Intact Investment Management Inc. lifted its position in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 19.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,114,698 shares of the oil and gas company's stock after buying an additional 502,750 shares during the quarter. Cenovus Energy makes up 1.5% of Intact Investment Management Inc.'s holdings, making the stock its 19th largest holding. Intact Investment Management Inc. owned 0.17% of Cenovus Energy worth $43,294,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its stake 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 worth $25,000 after purchasing an additional 851 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in Cenovus Energy in the 1st quarter worth $38,000. Blue Trust Inc. raised its position in shares of Cenovus Energy by 54.7% during the 4th quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company's stock valued at $72,000 after buying an additional 1,677 shares in the last quarter. Natixis purchased a new stake in shares of Cenovus Energy during the 4th quarter valued at about $98,000. Finally, Clarius Group LLC bought a new position in Cenovus Energy during the 1st quarter valued at about $150,000. Hedge funds and other institutional investors own 51.19% of the company's stock.
Cenovus Energy Price Performance
Shares of CVE stock opened at $14.64 on Friday. 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 company's 50-day simple moving average is $13.10 and its two-hundred day simple moving average is $13.86. Cenovus Energy Inc has a one year low of $10.23 and a one year high of $20.76. The company has a market capitalization of $26.67 billion, a P/E ratio of 13.68 and a beta of 0.94.
Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings data on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03. The company had revenue of $11.15 billion for the quarter, compared to analyst estimates of $12.39 billion. Cenovus Energy had a net margin of 5.22% and a return on equity of 9.56%. During the same period last year, the company posted $0.62 earnings per share. As a group, equities analysts anticipate that Cenovus Energy Inc will post 1.49 EPS for the current year.
Cenovus Energy Increases Dividend
The firm also recently disclosed a dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $0.20 per share. This represents a yield of 4.25%. This is a positive change from Cenovus Energy's previous dividend of $0.11. The ex-dividend date is Friday, June 13th. Cenovus Energy's dividend payout ratio (DPR) is presently 54.21%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price objective on shares of Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. National Bank Financial lowered shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research report on Friday, February 21st. Veritas lowered shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. National Bankshares reissued a "sector perform" rating on shares of Cenovus Energy in a research report on Friday, April 25th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a research report on Tuesday, April 15th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $25.75.
Check Out Our Latest Stock Analysis on Cenovus Energy
About Cenovus Energy
(
Free Report)
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.
Further Reading
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