107,923 Shares in Cenovus Energy Inc $CVE Bought by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC purchased a new stake in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 107,923 shares of the oil and gas company's stock, valued at approximately $2,678,000.

Several other institutional investors have also recently made changes to their positions in CVE. Capital Research Global Investors grew its stake in shares of Cenovus Energy by 16.6% in the 4th quarter. Capital Research Global Investors now owns 124,313,513 shares of the oil and gas company's stock valued at $2,103,090,000 after buying an additional 17,730,542 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Cenovus Energy by 440.8% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 15,414,179 shares of the oil and gas company's stock worth $260,797,000 after buying an additional 12,564,179 shares during the period. Bank of America Corp DE boosted its holdings in Cenovus Energy by 111.2% in the first quarter. Bank of America Corp DE now owns 22,770,723 shares of the oil and gas company's stock worth $604,107,000 after acquiring an additional 11,990,405 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in Cenovus Energy by 322.7% in the second quarter. Canada Pension Plan Investment Board now owns 15,521,050 shares of the oil and gas company's stock worth $211,338,000 after acquiring an additional 11,849,355 shares in the last quarter. Finally, FIL Ltd grew its stake in Cenovus Energy by 40.0% in the fourth quarter. FIL Ltd now owns 38,533,059 shares of the oil and gas company's stock valued at $651,880,000 after acquiring an additional 11,019,212 shares during the period. Institutional investors and hedge funds own 51.19% of the company's stock.

Analyst Upgrades and Downgrades

CVE has been the subject of several recent research reports. Lake Street Capital set a $36.00 price objective on Cenovus Energy in a report on Wednesday, May 13th. Desjardins upgraded Cenovus Energy to a "moderate buy" rating in a report on Thursday, July 16th. Raymond James Financial downgraded shares of Cenovus Energy from a "strong-buy" rating to an "outperform" rating in a research report on Wednesday, May 6th. Royal Bank Of Canada boosted their price target on shares of Cenovus Energy from $47.00 to $51.00 and gave the company an "outperform" rating in a research note on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of Cenovus Energy from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Cenovus Energy currently has an average rating of "Moderate Buy" and an average target price of $36.25.

Cenovus Energy Trading Up 0.2%

Shares of Cenovus Energy stock opened at $31.06 on Monday. Cenovus Energy Inc has a 1 year low of $14.77 and a 1 year high of $32.07. The firm has a market cap of $57.44 billion, a PE ratio of 11.95 and a beta of 0.34. The stock has a fifty day moving average price of $27.41 and a 200-day moving average price of $26.06. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.04.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its earnings results on Wednesday, July 29th. The oil and gas company reported $1.11 EPS for the quarter, hitting analysts' consensus estimates of $1.11. The company had revenue of $14.59 billion for the quarter, compared to analysts' expectations of $11.87 billion. Cenovus Energy had a return on equity of 21.08% and a net margin of 12.37%.The business's revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 EPS. Equities research analysts anticipate that Cenovus Energy Inc will post 3.2 EPS for the current year.

Cenovus Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Tuesday, September 15th. Cenovus Energy's payout ratio is presently 24.62%.

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.

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