Cenovus Energy Inc $CVE Shares Purchased by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in Cenovus Energy Inc, raising its holdings by 16.7% to a total of 267,833 shares valued at approximately $3.72 million.
• Cenovus Energy has received various ratings from analysts, with a consensus of "Buy" and an average price target of $23.33, reflecting positive investor sentiment.
• The company declared a quarterly dividend of $0.20, which will be paid to shareholders on September 29th, representing an annualized yield of 4.7%.

Voya Investment Management LLC increased its position in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 16.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,833 shares of the oil and gas company's stock after purchasing an additional 38,363 shares during the period. Voya Investment Management LLC's holdings in Cenovus Energy were worth $3,722,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CVE. Bruce G. Allen Investments LLC purchased a new stake in shares of Cenovus Energy during the 1st quarter valued at about $38,000. Cromwell Holdings LLC grew its stake in shares of Cenovus Energy by 1,165.1% during the 1st quarter. Cromwell Holdings LLC now owns 3,049 shares of the oil and gas company's stock valued at $42,000 after acquiring an additional 2,808 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Cenovus Energy during the 1st quarter valued at approximately $42,000. Clarius Group LLC bought a new position in shares of Cenovus Energy during the 1st quarter valued at approximately $150,000. Finally, SeaBridge Investment Advisors LLC grew its stake in shares of Cenovus Energy by 10.0% during the 1st 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 period. Institutional investors own 51.19% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CVE shares. Royal Bank Of Canada upped their price target on Cenovus Energy from $25.00 to $26.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Jefferies Financial Group reiterated a "buy" rating on shares of Cenovus Energy in a research report on Tuesday, September 2nd. UBS Group reiterated a "buy" rating on shares of Cenovus Energy in a research report on Monday, August 25th. National Bankshares reiterated an "outperform" rating on shares of Cenovus Energy in a research report on Wednesday, September 10th. Finally, Wall Street Zen upgraded Cenovus Energy from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Cenovus Energy currently has a consensus rating of "Buy" and a consensus target price of $23.33.

Cenovus Energy Price Performance

Shares of Cenovus Energy stock traded up $0.14 on Monday, reaching $17.13. The company's stock had a trading volume of 19,514,541 shares, compared to its average volume of 12,636,316. The company has a market capitalization of $30.62 billion, a P/E ratio of 16.99 and a beta of 0.99. Cenovus Energy Inc has a 52-week low of $10.23 and a 52-week high of $18.61. The stock has a 50-day moving average price of $15.59 and a 200-day moving average price of $14.05. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.24.

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 company had revenue of $10.66 billion for the quarter, compared to analyst estimates of $10.64 billion. Cenovus Energy had a return on equity of 9.06% and a net margin of 5.18%.The firm's revenue for the quarter was down 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 earnings per share. Analysts expect that Cenovus Energy Inc will post 1.49 EPS for the current year.

Cenovus Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Monday, September 15th. Cenovus Energy's dividend payout ratio (DPR) is presently 56.44%.

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.