Cenovus Energy Inc $CVE Stake Raised by Cookson Peirce & Co. Inc.

Key Points

• Cookson Peirce increased its Cenovus Energy stake by 18.2% in the second quarter, adding 177,134 shares to own 1.15 million shares valued at approximately $28.6 million. Institutional investors collectively hold 51.19% of the company.
• Analysts maintain a generally positive outlook, with Cenovus receiving a consensus “Moderate Buy” rating and an average price target of $36.25. Recent ratings included upgrades from Desjardins and Weiss Ratings, although Zacks downgraded the stock to “Hold.”
• Cenovus reported quarterly earnings of $1.11 per share and revenue of $14.59 billion, with revenue up 47.9% year over year. The company also declared a quarterly dividend of $0.22 per share, equal to a 2.7% annualized yield.

Cookson Peirce & Co. Inc. raised its holdings in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 18.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,151,707 shares of the oil and gas company's stock after acquiring an additional 177,134 shares during the quarter. Cookson Peirce & Co. Inc. owned approximately 0.06% of Cenovus Energy worth $28,574,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in shares of Cenovus Energy during the second quarter worth approximately $25,000. Transamerica Financial Advisors LLC increased its stake in Cenovus Energy by 1,302.7% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company's stock valued at $26,000 after buying an additional 1,433 shares during the period. NBC Securities Inc. increased its stake in Cenovus Energy by 961.5% in the 4th 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 in the 2nd quarter worth approximately $35,000. Finally, Kestra Advisory Services LLC purchased a new stake in Cenovus Energy in the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 51.19% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on CVE. The Goldman Sachs Group restated a "buy" rating on shares of Cenovus Energy in a report on Wednesday, May 13th. Desjardins raised Cenovus Energy to a "moderate buy" rating in a research report on Thursday, July 16th. Scotiabank restated an "outperform" rating on shares of Cenovus Energy in a research note on Thursday, July 30th. Weiss Ratings raised Cenovus Energy from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Finally, Zacks Research lowered Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $36.25.

Cenovus Energy Stock Performance

CVE stock opened at $32.58 on Friday. The firm has a 50 day moving average of $27.74 and a two-hundred day moving average of $26.41. Cenovus Energy Inc has a 12 month low of $14.85 and a 12 month high of $33.40. The company has a market capitalization of $60.25 billion, a price-to-earnings ratio of 12.53 and a beta of 0.34. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.25.

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

Cenovus Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Cenovus Energy's dividend payout ratio is presently 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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