18,803 Shares in Cenovus Energy Inc $CVE Acquired by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,803 shares of the oil and gas company’s stock, valued at approximately $318,000.

A number of other hedge funds also recently made changes to their positions in the stock. Advisory Services Network LLC acquired a new position in shares of Cenovus Energy during the 3rd quarter valued at $50,000. Allworth Financial LP lifted its holdings in Cenovus Energy by 32.2% in the 3rd quarter. Allworth Financial LP now owns 3,025 shares of the oil and gas company’s stock worth $51,000 after buying an additional 737 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Cenovus Energy by 74.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company’s stock worth $44,000 after buying an additional 1,384 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Cenovus Energy by 57.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,912 shares of the oil and gas company’s stock worth $67,000 after buying an additional 1,800 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in Cenovus Energy by 16.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 6,369 shares of the oil and gas company’s stock worth $113,000 after buying an additional 917 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Price Performance

Shares of NYSE:CVE opened at $26.88 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. Cenovus Energy Inc has a fifty-two week low of $10.23 and a fifty-two week high of $27.65. The firm has a 50-day simple moving average of $22.96 and a 200 day simple moving average of $19.35. The company has a market cap of $50.51 billion, a PE ratio of 17.57 and a beta of 0.34.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.08. Cenovus Energy had a net margin of 7.92% and a return on equity of 13.25%. The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $10.89 billion. During the same quarter in the prior year, the firm earned $0.07 EPS. On average, sell-side analysts anticipate that Cenovus Energy Inc will post 1.49 EPS for the current year.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, March 13th. Cenovus Energy’s dividend payout ratio is currently 38.56%.

Analyst Ratings Changes

A number of brokerages have commented on CVE. The Goldman Sachs Group boosted their price objective on shares of Cenovus Energy from $22.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. TD Securities reiterated a “buy” rating on shares of Cenovus Energy in a report on Friday, February 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cenovus Energy in a report on Tuesday, January 27th. Royal Bank Of Canada boosted their price objective on shares of Cenovus Energy from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Cenovus Energy in a report on Tuesday, January 20th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Cenovus Energy has a consensus rating of “Buy” and a consensus price target of $29.67.

Cenovus Energy Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.