U.S. Capital Wealth Advisors LLC Raises Position in Cenovus Energy Inc (NYSE:CVE)

U.S. Capital Wealth Advisors LLC lifted its position in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 68.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 655,133 shares of the oil and gas company's stock after purchasing an additional 265,638 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Cenovus Energy were worth $9,113,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CVE. Capital World Investors increased its holdings in shares of Cenovus Energy by 15.8% in the fourth quarter. Capital World Investors now owns 191,412,590 shares of the oil and gas company's stock worth $2,901,131,000 after purchasing an additional 26,127,617 shares during the period. Dimensional Fund Advisors LP increased its stake in Cenovus Energy by 48.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,001,002 shares of the oil and gas company's stock valued at $196,935,000 after acquiring an additional 4,220,663 shares during the last quarter. Toronto Dominion Bank increased its stake in Cenovus Energy by 91.7% in the fourth quarter. Toronto Dominion Bank now owns 7,233,491 shares of the oil and gas company's stock valued at $109,515,000 after acquiring an additional 3,460,311 shares during the last quarter. Franklin Resources Inc. increased its stake in Cenovus Energy by 105.0% in the fourth quarter. Franklin Resources Inc. now owns 4,337,551 shares of the oil and gas company's stock valued at $65,667,000 after acquiring an additional 2,221,549 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Cenovus Energy by 29.2% in the fourth quarter. Geode Capital Management LLC now owns 8,287,334 shares of the oil and gas company's stock valued at $128,783,000 after acquiring an additional 1,873,415 shares during the last quarter. Institutional investors own 51.19% of the company's stock.

Cenovus Energy Price Performance

Cenovus Energy stock traded up $0.57 during mid-day trading on Tuesday, hitting $14.61. The stock had a trading volume of 5,292,967 shares, compared to its average volume of 9,812,164. The firm has a market capitalization of $26.43 billion, a P/E ratio of 13.61 and a beta of 0.93. The company has a current ratio of 1.46, a quick ratio of 0.84 and a debt-to-equity ratio of 0.25. The firm's 50 day moving average is $13.53 and its 200 day moving average is $13.76. Cenovus Energy Inc has a one year low of $10.23 and a one year high of $20.76.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings results on Thursday, May 8th. The oil and gas company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.03. The firm had revenue of $11.15 billion during the quarter, compared to the consensus estimate of $12.39 billion. Cenovus Energy had a net margin of 5.22% and a return on equity of 9.56%. During the same quarter last year, the firm earned $0.62 EPS. On average, sell-side analysts forecast that Cenovus Energy Inc will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently declared a dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a $0.20 dividend. This represents a yield of 4.25%. The ex-dividend date of this dividend was Friday, June 13th. This is an increase from Cenovus Energy's previous dividend of $0.11. Cenovus Energy's dividend payout ratio (DPR) is currently 54.21%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. The Goldman Sachs Group reduced their target price on Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Scotiabank raised Cenovus Energy to a "strong-buy" rating in a research note on Wednesday, March 19th. Veritas cut Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. National Bankshares reissued a "sector perform" rating on shares of Cenovus Energy in a research note on Friday, April 25th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $25.00 target price on shares of Cenovus Energy in a research note on Friday, April 11th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $25.75.

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.