Tweedy Browne Co LLC Makes New Investment in Cenovus Energy Inc $CVE

Key Points

• Tweedy Browne Co LLC invested approximately $301,000 in Cenovus Energy Inc by acquiring 22,144 shares in the second quarter.
• The company recently reported quarterly earnings of $0.33 per share, exceeding analyst estimates, while also announcing a quarterly dividend of $0.20 per share.
• Cenovus Energy has received a consensus rating of "Buy" from analysts, with three rating it a "Strong Buy" and an average target price of $23.33.

Tweedy Browne Co LLC purchased a new position in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 22,144 shares of the oil and gas company's stock, valued at approximately $301,000.

Several other hedge funds have also recently modified their holdings of the business. Fulton Bank N.A. lifted its position in Cenovus Energy by 4.4% during the second quarter. Fulton Bank N.A. now owns 19,201 shares of the oil and gas company's stock valued at $261,000 after acquiring an additional 809 shares during the last quarter. NFP Retirement Inc. lifted its position in Cenovus Energy by 2.7% during the first quarter. NFP Retirement Inc. now owns 34,500 shares of the oil and gas company's stock valued at $480,000 after acquiring an additional 900 shares during the last quarter. Meridian Investment Counsel Inc. lifted its position in Cenovus Energy by 4.9% during 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. SeaBridge Investment Advisors LLC lifted its position in Cenovus Energy by 10.0% during the first quarter. SeaBridge Investment Advisors LLC now owns 11,000 shares of the oil and gas company's stock valued at $153,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its position in Cenovus Energy by 8.3% during the second quarter. Yousif Capital Management LLC now owns 17,539 shares of the oil and gas company's stock valued at $239,000 after acquiring an additional 1,340 shares during the last quarter. Hedge funds and other institutional investors own 51.19% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on CVE. National Bankshares reissued an "outperform" rating on shares of Cenovus Energy in a research report on Wednesday, September 10th. Jefferies Financial Group reissued a "buy" rating on shares of Cenovus Energy in a research report on Tuesday, September 2nd. UBS Group reissued a "buy" rating on shares of Cenovus Energy in a research report on Monday, August 25th. Raymond James Financial upgraded shares of Cenovus Energy from an "outperform" rating to a "strong-buy" rating in a research note on Thursday, October 9th. Finally, TD Securities restated a "buy" rating on shares of Cenovus Energy in a research note on Tuesday, September 30th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Cenovus Energy has a consensus rating of "Buy" and an average target price of $23.33.

Cenovus Energy Stock Down 3.2%

NYSE:CVE opened at $16.74 on Friday. The firm has a market capitalization of $29.92 billion, a P/E ratio of 16.57 and a beta of 0.92. Cenovus Energy Inc has a 1-year low of $10.23 and a 1-year high of $18.60. The company's fifty day moving average price is $16.63 and its 200-day moving average price is $14.52. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 0.78.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings data on Thursday, July 31st. The oil and gas company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.19. The firm had revenue of $10.66 billion for the quarter, compared to analyst estimates of $10.64 billion. Cenovus Energy had a net margin of 5.18% and a return on equity of 9.06%. The business's quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 earnings per share. As a group, equities research analysts anticipate that Cenovus Energy Inc will post 1.49 EPS for the current year.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a $0.20 dividend. The ex-dividend date was Monday, September 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.8%. Cenovus Energy's dividend payout ratio is presently 57.43%.

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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