Annex Advisory Services LLC Makes New $2.84 Million Investment in Cenovus Energy Inc $CVE

Key Points

• Annex Advisory Services LLC opened a new position in Cenovus Energy in Q4, buying 167,979 shares valued at approximately $2.84 million.
• Several large institutions also added to positions—Capital Research (+291.3%), Canada Pension Plan (+322.7%), Mackenzie (+46.7%), and CIBC (+494.2%)—leaving institutional investors with about 51.19% ownership of the company.
• Cenovus reported Q4 EPS of $0.36 (vs. $0.28 estimate) but revenue missed estimates, has a market cap of $47.85B and P/E of 16.65, recently declared a quarterly dividend of $0.20 (annualized $0.80, yield 3.1%), and carries a consensus analyst target near $29.67 with a "Buy" consensus.

Annex Advisory Services LLC bought a new position in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 167,979 shares of the oil and gas company's stock, valued at approximately $2,842,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVE. Capital Research Global Investors boosted its stake in Cenovus Energy by 291.3% during the 3rd quarter. Capital Research Global Investors now owns 106,582,971 shares of the oil and gas company's stock worth $1,809,758,000 after purchasing an additional 79,345,506 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Cenovus Energy by 322.7% during the 2nd 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 purchasing an additional 11,849,355 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Cenovus Energy by 46.7% during the 3rd quarter. Mackenzie Financial Corp now owns 30,643,806 shares of the oil and gas company's stock worth $520,196,000 after purchasing an additional 9,753,134 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Cenovus Energy by 494.2% during the 3rd quarter. CIBC Asset Management Inc now owns 11,442,043 shares of the oil and gas company's stock worth $194,493,000 after purchasing an additional 9,516,460 shares during the last quarter. Finally, Canoe Financial LP acquired a new stake in Cenovus Energy during the 4th quarter worth $102,662,000. Institutional investors and hedge funds own 51.19% of the company's stock.

Cenovus Energy Stock Down 1.0%

Shares of CVE opened at $25.47 on Thursday. The firm has a market cap of $47.85 billion, a P/E ratio of 16.65 and a beta of 0.34. Cenovus Energy Inc has a 12-month low of $11.36 and a 12-month high of $27.65. The company's 50-day moving average price is $23.82 and its 200 day moving average price is $19.76. The company has a current ratio of 1.57, a quick ratio of 1.04 and a debt-to-equity ratio of 0.35.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.08. The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $10.89 billion. Cenovus Energy had a net margin of 7.92% and a return on equity of 13.25%. During the same period in the previous year, the firm earned $0.07 EPS. On average, sell-side analysts forecast that Cenovus Energy Inc will post 1.49 earnings per share for the current year.

Cenovus Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, March 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.1%. Cenovus Energy's dividend payout ratio is 38.56%.

Analyst Ratings Changes

CVE has been the topic of several recent research reports. Royal Bank Of Canada boosted their price target on shares of Cenovus Energy from $29.00 to $31.00 and gave the company an "outperform" rating in a research report on Wednesday, February 18th. BMO Capital Markets reissued an "outperform" rating on shares of Cenovus Energy in a research report on Friday, February 20th. Weiss Ratings reissued a "hold (c)" rating on shares of Cenovus Energy in a research report on Tuesday, January 27th. TD Securities reissued a "buy" rating on shares of Cenovus Energy in a research report on Friday, February 20th. Finally, The Goldman Sachs Group boosted their price target on shares of Cenovus Energy from $22.00 to $29.00 and gave the company a "buy" rating in a research report on Thursday, March 12th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Cenovus Energy currently has a consensus rating of "Buy" and a consensus target price of $29.67.

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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