31,306 Shares in Cenovus Energy Inc (NYSE:CVE) Purchased by Nicholson Meyer Capital Management Inc.

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

A number of other large investors also recently modified their holdings of the company. 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. Bruce G. Allen Investments LLC bought a new position in shares of Cenovus Energy in the first quarter valued at approximately $38,000. Natixis purchased a new position in shares of Cenovus Energy during the fourth quarter valued at approximately $98,000. Clarius Group LLC purchased a new position in shares of Cenovus Energy during the first quarter valued at approximately $150,000. Finally, Black Maple Capital Management LP bought a new stake in Cenovus Energy during the fourth quarter worth $167,000. 51.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CVE. The Goldman Sachs Group dropped their price objective on Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Scotiabank upgraded shares of Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. Morgan Stanley restated an "overweight" rating on shares of Cenovus Energy in a report on Tuesday, April 15th. National Bankshares reiterated a "sector perform" rating on shares of Cenovus Energy in a research note on Friday, April 25th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $25.00 target price on shares of Cenovus Energy in a research report on Friday, April 11th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $25.75.

Cenovus Energy Stock Performance

CVE traded down $0.11 during trading on Thursday, hitting $14.14. 6,288,830 shares of the company traded hands, compared to its average volume of 9,786,562. Cenovus Energy Inc has a one year low of $10.23 and a one year high of $20.76. The stock's fifty day moving average is $13.41 and its 200 day moving average is $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. The firm has a market cap of $25.58 billion, a P/E ratio of 13.22 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 for the quarter, beating analysts' consensus estimates of $0.29 by $0.03. Cenovus Energy had a net margin of 5.22% and a return on equity of 9.56%. The firm had revenue of $11.15 billion for the quarter, compared to analysts' expectations of $12.39 billion. During the same period in the previous year, the company earned $0.62 earnings per share. As a group, equities analysts predict that Cenovus Energy Inc will post 1.49 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

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

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.