Nicholson Meyer Capital Management Inc. Invests $435,000 in Cenovus Energy Inc (NYSE:CVE)

Nicholson Meyer Capital Management Inc. purchased a new position in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 31,306 shares of the oil and gas company's stock, valued at approximately $435,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVE. Public Employees Retirement System of Ohio grew its holdings in shares of Cenovus Energy by 0.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 241,113 shares of the oil and gas company's stock valued at $3,653,000 after buying an additional 762 shares during the last quarter. Alliancebernstein L.P. lifted its position in Cenovus Energy by 0.7% in the 4th quarter. Alliancebernstein L.P. now owns 106,532 shares of the oil and gas company's stock valued at $1,614,000 after acquiring an additional 779 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Cenovus Energy by 104.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 851 shares during the last quarter. Guggenheim Capital LLC boosted its stake in Cenovus Energy by 4.5% during the 4th quarter. Guggenheim Capital LLC now owns 20,974 shares of the oil and gas company's stock valued at $318,000 after purchasing an additional 908 shares during the last quarter. Finally, Banco Santander S.A. increased its holdings in shares of Cenovus Energy by 5.6% in the 4th quarter. Banco Santander S.A. now owns 30,967 shares of the oil and gas company's stock worth $469,000 after purchasing an additional 1,641 shares in the last quarter. Institutional investors own 51.19% of the company's stock.

Cenovus Energy Stock Performance

CVE traded up $0.29 during midday trading on Tuesday, reaching $13.89. The company had a trading volume of 6,507,770 shares, compared to its average volume of 9,781,428. The business has a 50-day moving average of $13.33 and a two-hundred day moving average of $13.78. The company has a quick ratio of 0.84, a current ratio of 1.46 and a debt-to-equity ratio of 0.25. Cenovus Energy Inc has a 1 year low of $10.23 and a 1 year high of $20.76. The company has a market cap of $25.13 billion, a P/E ratio of 12.98 and a beta of 0.93.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. Cenovus Energy had a net margin of 5.22% and a return on equity of 9.56%. The company had revenue of $11.15 billion during the quarter, compared to analyst estimates of $12.39 billion. During the same period in the prior year, the firm posted $0.62 EPS. As a group, equities research analysts predict that Cenovus Energy Inc will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, June 13th. This is a boost from Cenovus Energy's previous dividend of $0.11. This represents a dividend yield of 4.25%. Cenovus Energy's dividend payout ratio is 54.21%.

Analyst Ratings Changes

Several research firms recently commented on CVE. Scotiabank upgraded Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. National Bankshares reiterated a "sector perform" rating on shares of Cenovus Energy in a research note on Friday, April 25th. Royal Bank Of Canada reissued an "outperform" rating and set a $25.00 price objective on shares of Cenovus Energy in a report on Friday, April 11th. Veritas downgraded shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, The Goldman Sachs Group cut their target price on shares of Cenovus Energy from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.75.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.