Vontobel Holding Ltd. acquired a new position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 56,000 shares of the oil and gas company's stock, valued at approximately $933,000.
A number of other hedge funds also recently bought and sold shares of CVE. NBC Securities Inc. purchased a new position in Cenovus Energy during the 3rd quarter valued at about $34,000. GHP Investment Advisors Inc. bought a new stake in Cenovus Energy during the 4th quarter valued at approximately $43,000. CWM LLC boosted its position in Cenovus Energy by 19.2% during the 3rd quarter. CWM LLC now owns 3,336 shares of the oil and gas company's stock valued at $69,000 after acquiring an additional 537 shares in the last quarter. Operose Advisors LLC bought a new stake in Cenovus Energy during the 3rd quarter valued at approximately $79,000. Finally, Y.D. More Investments Ltd bought a new stake in Cenovus Energy during the 3rd quarter valued at approximately $104,000. Hedge funds and other institutional investors own 51.19% of the company's stock.
Wall Street Analysts Forecast Growth
CVE has been the topic of several research reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $28.00 price objective on shares of Cenovus Energy in a research report on Friday, January 26th. Morgan Stanley boosted their price target on Cenovus Energy from $28.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, March 28th. StockNews.com raised Cenovus Energy from a "hold" rating to a "buy" rating in a research report on Thursday, April 11th. Finally, UBS Group raised Cenovus Energy from a "neutral" rating to a "buy" rating in a research report on Friday, February 23rd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $26.67.
Check Out Our Latest Research Report on Cenovus Energy
Cenovus Energy Stock Up 1.2 %
CVE stock traded up $0.25 during midday trading on Monday, hitting $21.10. The company's stock had a trading volume of 6,088,838 shares, compared to its average volume of 11,428,315. The company has a market cap of $39.35 billion, a PE ratio of 13.35 and a beta of 2.15. Cenovus Energy Inc. has a 12 month low of $14.69 and a 12 month high of $21.90. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.25. The firm's 50-day moving average is $19.06 and its 200-day moving average is $18.00.
Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. The business had revenue of $9.65 billion for the quarter, compared to analysts' expectations of $9.73 billion. Cenovus Energy had a return on equity of 14.85% and a net margin of 7.88%. During the same period in the prior year, the firm posted $0.29 EPS. On average, equities research analysts forecast that Cenovus Energy Inc. will post 1.88 earnings per share for the current fiscal year.
Cenovus Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.1033 dividend. The ex-dividend date was Thursday, March 14th. This is a boost from Cenovus Energy's previous quarterly dividend of $0.10. This represents a $0.41 annualized dividend and a yield of 1.96%. Cenovus Energy's dividend payout ratio is 25.95%.
Cenovus Energy Company Profile
(
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.
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