Cenovus Energy Inc $CVE Shares Bought 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 boosted its stake in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 16.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 267,833 shares of the oil and gas company's stock after acquiring an additional 38,363 shares during the quarter. Voya Investment Management LLC's holdings in Cenovus Energy were worth $3,722,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CVE. Ameriprise Financial Inc. raised its position in Cenovus Energy by 37.9% during the fourth quarter. Ameriprise Financial Inc. now owns 92,386 shares of the oil and gas company's stock valued at $1,400,000 after acquiring an additional 25,377 shares in the last quarter. Cetera Investment Advisers raised its position in Cenovus Energy by 8.7% during the fourth quarter. Cetera Investment Advisers now owns 46,096 shares of the oil and gas company's stock valued at $698,000 after acquiring an additional 3,676 shares in the last quarter. Tidal Investments LLC raised its position in Cenovus Energy by 187.7% during the fourth quarter. Tidal Investments LLC now owns 72,422 shares of the oil and gas company's stock valued at $1,097,000 after acquiring an additional 47,246 shares in the last quarter. Voloridge Investment Management LLC raised its position in Cenovus Energy by 16.9% during the fourth quarter. Voloridge Investment Management LLC now owns 1,532,608 shares of the oil and gas company's stock valued at $23,219,000 after acquiring an additional 221,505 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Cenovus Energy by 96.3% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 820,575 shares of the oil and gas company's stock valued at $12,423,000 after acquiring an additional 402,576 shares in the last quarter. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on CVE shares. Jefferies Financial Group reiterated 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 report on Monday, August 25th. National Bank Financial raised Cenovus Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, August 22nd. National Bankshares reissued an "outperform" rating on shares of Cenovus Energy in a report on Wednesday, September 10th. Finally, Royal Bank Of Canada raised their price objective on Cenovus Energy from $25.00 to $26.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $23.33.

Cenovus Energy Price Performance

Shares of NYSE:CVE traded up $0.55 during trading on Tuesday, reaching $17.64. The stock had a trading volume of 3,009,629 shares, compared to its average volume of 12,597,463. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.78 and a current ratio of 1.32. The business has a fifty day moving average price of $15.65 and a 200-day moving average price of $14.08. The stock has a market cap of $31.54 billion, a PE ratio of 17.47 and a beta of 0.99. Cenovus Energy Inc has a 1-year low of $10.23 and a 1-year high of $18.61.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings results on Thursday, July 31st. The oil and gas company reported $0.33 earnings per share (EPS) 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 return on equity of 9.06% and a net margin of 5.18%.The business's revenue was down 12.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 earnings per share. On average, equities analysts forecast that Cenovus Energy Inc will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

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 paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.80 dividend on an annualized basis and a yield of 4.5%. Cenovus Energy's payout ratio is 57.43%.

Cenovus Energy 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.