Oppenheimer Asset Management Inc. Purchases 66,987 Shares of Cenovus Energy Inc (NYSE:CVE)

Oppenheimer Asset Management Inc. increased its position in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 164.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,641 shares of the oil and gas company's stock after acquiring an additional 66,987 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Cenovus Energy were worth $1,497,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its position in Cenovus Energy by 185.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 48,103 shares of the oil and gas company's stock valued at $669,000 after purchasing an additional 31,265 shares in the last quarter. Manning & Napier Advisors LLC grew its position in Cenovus Energy by 2.0% during the first quarter. Manning & Napier Advisors LLC now owns 141,711 shares of the oil and gas company's stock valued at $1,971,000 after purchasing an additional 2,764 shares in the last quarter. Intact Investment Management Inc. grew its position in Cenovus Energy by 19.2% during the first quarter. Intact Investment Management Inc. now owns 3,114,698 shares of the oil and gas company's stock valued at $43,294,000 after purchasing an additional 502,750 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in Cenovus Energy during the first quarter valued at approximately $1,907,000. Finally, Clarius Group LLC purchased a new position in Cenovus Energy during the first quarter valued at approximately $150,000. Institutional investors and hedge funds own 51.19% of the company's stock.

Cenovus Energy Stock Down 1.2%

CVE stock traded down $0.17 during trading hours on Friday, hitting $13.64. The company's stock had a trading volume of 12,666,946 shares, compared to its average volume of 9,753,288. The company has a quick ratio of 0.84, a current ratio of 1.46 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $24.68 billion, a PE ratio of 12.75 and a beta of 0.94. Cenovus Energy Inc has a 12 month low of $10.23 and a 12 month high of $20.76. The stock has a 50 day moving average price of $13.30 and a two-hundred day moving average price of $13.81.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its earnings results 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 company 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 period in the previous year, the firm posted $0.62 earnings per share. On average, equities research analysts expect that Cenovus Energy Inc will post 1.49 earnings per share for the current year.

Cenovus Energy Increases Dividend

The company 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 is an increase from Cenovus Energy's previous dividend of $0.11. This represents a dividend yield of 4.25%. The ex-dividend date is Friday, June 13th. Cenovus Energy's dividend payout ratio is currently 54.21%.

Analyst Upgrades and Downgrades

CVE has been the topic of a number of research analyst reports. National Bankshares reaffirmed a "sector perform" rating on shares of Cenovus Energy in a research report on Friday, April 25th. Veritas downgraded shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Morgan Stanley reaffirmed an "overweight" rating on shares of Cenovus Energy in a research report on Tuesday, April 15th. Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $25.00 target price on shares of Cenovus Energy in a research report on Friday, April 11th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.75.

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.