45,541 Shares in Cenovus Energy Inc $CVE Acquired by Corient Private Wealth LP

Corient Private Wealth LP bought a new stake in shares of 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 firm bought 45,541 shares of the oil and gas company's stock, valued at approximately $1,130,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVE. Jones Financial Companies Lllp raised its position in Cenovus Energy by 574.8% in the 1st quarter. Jones Financial Companies Lllp now owns 21,607 shares of the oil and gas company's stock worth $301,000 after purchasing an additional 18,405 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Cenovus Energy by 6.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 747,472 shares of the oil and gas company's stock valued at $10,397,000 after purchasing an additional 44,125 shares during the period. Prudential Financial Inc. bought a new position in Cenovus Energy in the second quarter worth approximately $525,000. EverSource Wealth Advisors LLC boosted its position in Cenovus Energy by 57.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,912 shares of the oil and gas company's stock valued at $67,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Cenovus Energy during the second quarter valued at approximately $495,000. 51.19% of the stock is owned by hedge funds and other institutional investors.

Cenovus Energy Stock Performance

Shares of CVE opened at $32.40 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.04 and a debt-to-equity ratio of 0.25. The firm has a market cap of $59.69 billion, a PE ratio of 12.46 and a beta of 0.35. The company's 50 day simple moving average is $29.16 and its 200-day simple moving average is $27.26. Cenovus Energy Inc has a 12-month low of $15.63 and a 12-month high of $33.40.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $1.11 earnings per share for the quarter, hitting the consensus estimate of $1.11. The firm had revenue of $14.59 billion during the quarter, compared to the consensus estimate of $11.87 billion. Cenovus Energy had a return on equity of 21.08% and a net margin of 12.37%.The company's revenue for the quarter was up 47.9% on a year-over-year basis. During the same period last year, the company earned $0.45 earnings per share. As a group, equities analysts predict that Cenovus Energy Inc will post 3.2 EPS for the current year.

Cenovus Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, September 15th. Cenovus Energy's dividend payout ratio (DPR) is currently 24.62%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wall Street Zen lowered Cenovus Energy from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Cenovus Energy in a report on Thursday, August 27th. Royal Bank Of Canada boosted their price objective on Cenovus Energy from $47.00 to $51.00 and gave the stock an "outperform" rating in a research note on Thursday, July 30th. Scotiabank reissued an "outperform" rating on shares of Cenovus Energy in a research note on Thursday, July 30th. Finally, Lake Street Capital set a $36.00 target price on shares of Cenovus Energy in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $39.00.

About Cenovus Energy

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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