Dynasty Wealth Management LLC Has $885,000 Stake in Cenovus Energy Inc (NYSE:CVE)

Dynasty Wealth Management LLC grew its holdings in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 151.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,596 shares of the oil and gas company's stock after acquiring an additional 38,276 shares during the quarter. Dynasty Wealth Management LLC's holdings in Cenovus Energy were worth $885,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Public Employees Retirement System of Ohio boosted its position in Cenovus Energy by 0.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 241,113 shares of the oil and gas company's stock worth $3,653,000 after buying an additional 762 shares during the period. Alliancebernstein L.P. boosted its holdings in Cenovus Energy by 0.7% in the fourth quarter. Alliancebernstein L.P. now owns 106,532 shares of the oil and gas company's stock valued at $1,614,000 after acquiring an additional 779 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Cenovus Energy by 104.9% in 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 acquiring an additional 851 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in Cenovus Energy by 4.5% in the fourth quarter. Guggenheim Capital LLC now owns 20,974 shares of the oil and gas company's stock valued at $318,000 after acquiring an additional 908 shares during the last quarter. Finally, Meridian Investment Counsel Inc. boosted its holdings in Cenovus Energy by 4.9% in the first quarter. Meridian Investment Counsel Inc. now owns 21,275 shares of the oil and gas company's stock valued at $296,000 after acquiring an additional 1,000 shares during the last quarter. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVE has been the subject of a number of analyst reports. National Bankshares reissued a "sector perform" rating on shares of Cenovus Energy in a research note on Friday, April 25th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $25.00 target price on shares of Cenovus Energy in a report on Friday, April 11th. Morgan Stanley reaffirmed an "overweight" rating on shares of Cenovus Energy in a report on Tuesday, April 15th. The Goldman Sachs Group cut their price target on shares of Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, Veritas lowered Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Five investment 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $23.00.

Cenovus Energy Stock Up 0.6%

Shares of NYSE:CVE opened at $14.04 on Friday. The firm has a fifty day moving average price of $13.91 and a two-hundred day moving average price of $13.75. The company has a market cap of $25.41 billion, a price-to-earnings ratio of 13.13 and a beta of 0.93. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.46 and a quick ratio of 0.84. Cenovus Energy Inc has a one year low of $10.23 and a one year high of $20.60.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings data on Thursday, May 8th. The oil and gas company reported $0.32 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 previous year, the business earned $0.62 earnings per share. Analysts anticipate that Cenovus Energy Inc will post 1.49 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

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