Ascent Group LLC Takes Position in Cenovus Energy Inc $CVE

Ascent Group LLC purchased a new stake in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 14,235 shares of the oil and gas company's stock, valued at approximately $194,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its holdings in shares of Cenovus Energy by 56.5% during the 1st quarter. Mackenzie Financial Corp now owns 19,481,233 shares of the oil and gas company's stock worth $270,742,000 after acquiring an additional 7,035,004 shares during the period. Vanguard Group Inc. grew its position in shares of Cenovus Energy by 8.8% during the first quarter. Vanguard Group Inc. now owns 54,483,601 shares of the oil and gas company's stock worth $757,213,000 after buying an additional 4,401,045 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Cenovus Energy by 33.6% during the first quarter. Dimensional Fund Advisors LP now owns 17,363,386 shares of the oil and gas company's stock worth $241,513,000 after buying an additional 4,362,384 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Cenovus Energy by 2,719.3% in the first quarter. Acadian Asset Management LLC now owns 4,141,434 shares of the oil and gas company's stock valued at $57,533,000 after purchasing an additional 3,994,539 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Cenovus Energy by 40.2% during the 1st quarter. Invesco Ltd. now owns 11,281,543 shares of the oil and gas company's stock worth $156,926,000 after purchasing an additional 3,237,659 shares during the period. Institutional investors and hedge funds own 51.19% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Cenovus Energy in a report on Wednesday. UBS Group reaffirmed a "buy" rating on shares of Cenovus Energy in a report on Monday, August 25th. Royal Bank Of Canada increased their price objective on Cenovus Energy from $25.00 to $26.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. National Bankshares reiterated an "outperform" rating on shares of Cenovus Energy in a research report on Wednesday, September 10th. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of Cenovus Energy in a research report on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Cenovus Energy has an average rating of "Buy" and an average target price of $23.33.

Cenovus Energy Stock Up 1.7%

CVE opened at $17.71 on Thursday. The stock has a market capitalization of $31.65 billion, a price-to-earnings ratio of 17.53 and a beta of 0.92. Cenovus Energy Inc has a 12 month low of $10.23 and a 12 month high of $18.17. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 0.78. The business has a 50-day moving average of $16.34 and a two-hundred day moving average of $14.39.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings data on Thursday, July 31st. The oil and gas company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.19. The business had revenue of $10.66 billion for the quarter, compared to analyst estimates of $10.64 billion. Cenovus Energy had a return on equity of 9.06% and a net margin of 5.18%.The company's revenue was down 12.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 EPS. On average, research analysts expect that Cenovus Energy Inc will post 1.49 earnings per share for the current year.

Cenovus Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Monday, September 15th. Cenovus Energy's payout ratio is 57.43%.

About Cenovus Energy

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.

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