Cambridge Investment Research Advisors Inc. Buys 31,265 Shares of Cenovus Energy Inc (NYSE:CVE)

Cambridge Investment Research Advisors Inc. grew its holdings in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 185.7% in the first quarter, according to its most recent 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 SEC filing.

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

Cenovus Energy Price Performance

Cenovus Energy stock traded up $0.30 during trading hours on Friday, hitting $14.67. 8,386,483 shares of the stock were exchanged, compared to its average volume of 9,897,557. Cenovus Energy Inc has a 12 month low of $10.23 and a 12 month high of $20.76. The business's 50-day moving average is $13.69 and its two-hundred day moving average is $13.77. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.84 and a current ratio of 1.46. The stock has a market capitalization of $26.54 billion, a P/E ratio of 13.71 and a beta of 0.93.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its quarterly earnings data on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. The firm had revenue of $11.15 billion for the quarter, compared to the consensus estimate of $12.39 billion. Cenovus Energy had a return on equity of 9.56% and a net margin of 5.22%. During the same quarter in the prior year, the business earned $0.62 EPS. Equities research analysts expect that Cenovus Energy Inc will post 1.49 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, June 13th. This represents a yield of 4.25%. This is a boost from Cenovus Energy's previous dividend of $0.11. Cenovus Energy's payout ratio is currently 54.21%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVE. The Goldman Sachs Group reduced their price objective on Cenovus Energy from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Veritas lowered shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Morgan Stanley restated an "overweight" rating on shares of Cenovus Energy in a report on Tuesday, April 15th. National Bankshares reiterated a "sector perform" rating on shares of Cenovus Energy in a research report on Friday, April 25th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set 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 given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price 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.