42,063 Shares in Cenovus Energy Inc $CVE Bought by EFG International AG

Key Points

• EFG International AG acquired 42,063 Cenovus Energy shares during the second quarter, valued at approximately $1.04 million. Institutional investors collectively own 51.19% of the company.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $36.25, despite one firm downgrading the stock to “Hold.”
• Cenovus reported quarterly revenue of $14.59 billion, up 47.9% year over year, while matching earnings expectations at $1.11 per share. The company also declared a quarterly dividend of $0.22 per share, yielding approximately 2.8% annually.

EFG International AG acquired a new position in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 42,063 shares of the oil and gas company's stock, valued at approximately $1,044,000.

Other institutional investors have also recently bought and sold shares of the company. Transamerica Financial Advisors LLC raised its stake in shares of Cenovus Energy by 1,302.7% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company's stock worth $26,000 after purchasing an additional 1,433 shares during the period. NBC Securities Inc. grew its position in Cenovus Energy by 961.5% during the fourth quarter. NBC Securities Inc. now owns 1,656 shares of the oil and gas company's stock valued at $28,000 after buying an additional 1,500 shares during the period. Gables Capital Management Inc. purchased a new stake in Cenovus Energy during the second quarter worth about $35,000. Kestra Advisory Services LLC purchased a new stake in Cenovus Energy during the fourth quarter worth about $38,000. Finally, Geneos Wealth Management Inc. increased its holdings in Cenovus Energy by 74.1% during the second 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 during the last quarter. Institutional investors own 51.19% of the company's stock.

Analyst Ratings Changes

CVE has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Cenovus Energy from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Zacks Research lowered shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 16th. Morgan Stanley reaffirmed an "overweight" rating on shares of Cenovus Energy in a report on Wednesday, August 19th. Desjardins upgraded Cenovus Energy to a "moderate buy" rating in a research note on Thursday, July 16th. Finally, Weiss Ratings raised Cenovus Energy from a "hold (c+)" rating to a "buy (b-)" rating in a report 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $36.25.

Cenovus Energy Price Performance

Shares of NYSE:CVE opened at $31.48 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $58.22 billion, a PE ratio of 12.11 and a beta of 0.34. Cenovus Energy Inc has a twelve month low of $15.63 and a twelve month high of $33.40. The company has a 50-day moving average price of $28.14 and a two-hundred day moving average price of $26.75.

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

Cenovus Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors 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 currently 24.62%.

Cenovus Energy Company 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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