Cenovus Energy Inc (NYSE:CVE) Shares Purchased by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. boosted its stake in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 185.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 48,103 shares of the oil and gas company's stock after acquiring an additional 31,265 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Cenovus Energy were worth $669,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its holdings in Cenovus Energy by 104.9% in the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company's stock valued at $25,000 after buying an additional 851 shares during the period. Bruce G. Allen Investments LLC purchased a new stake in Cenovus Energy in the 1st quarter valued at about $38,000. Natixis purchased a new stake in Cenovus Energy in the 4th quarter valued at about $98,000. Clarius Group LLC purchased a new stake in Cenovus Energy in the 1st quarter valued at about $150,000. Finally, Black Maple Capital Management LP purchased a new stake in Cenovus Energy in the 4th quarter valued at about $167,000. Institutional investors and hedge funds own 51.19% of the company's stock.

Wall Street Analysts Forecast Growth

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

Cenovus Energy Stock Down 0.7%

CVE opened at $14.06 on Tuesday. The stock has a market capitalization of $25.44 billion, a price-to-earnings ratio of 13.14 and a beta of 0.93. Cenovus Energy Inc has a 12 month low of $10.23 and a 12 month high of $20.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.46 and a quick ratio of 0.84. The business has a 50-day moving average of $13.53 and a two-hundred day moving average of $13.76.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.03. Cenovus Energy had a return on equity of 9.56% and a net margin of 5.22%. The company had revenue of $11.15 billion for the quarter, compared to analyst estimates of $12.39 billion. During the same period in the prior 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 Increases Dividend

The firm also recently disclosed 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 payout ratio is currently 54.21%.

Cenovus Energy Company Profile

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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