59,962 Shares in Cenovus Energy Inc. (NYSE:CVE) Bought by Summit Global Investments

Summit Global Investments acquired a new stake in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 59,962 shares of the oil and gas company's stock, valued at approximately $998,000.

A number of other institutional investors also recently bought and sold shares of CVE. Financial Perspectives Inc acquired a new position in Cenovus Energy in the fourth quarter valued at $28,000. Headlands Technologies LLC acquired a new position in shares of Cenovus Energy during the fourth quarter worth about $33,000. NBC Securities Inc. acquired a new position in shares of Cenovus Energy during the third quarter worth about $34,000. GHP Investment Advisors Inc. acquired a new position in shares of Cenovus Energy during the fourth quarter worth about $43,000. Finally, Operose Advisors LLC acquired a new position in shares of Cenovus Energy during the third quarter worth about $79,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CVE shares. UBS Group upgraded shares of Cenovus Energy from a "neutral" rating to a "buy" rating in a research note on Friday, February 23rd. Morgan Stanley boosted their price target on shares of Cenovus Energy from $28.00 to $30.00 and gave the stock an "overweight" rating in a research note on Thursday, March 28th. StockNews.com upgraded shares of Cenovus Energy from a "buy" rating to a "strong-buy" rating in a research report on Friday. Finally, Royal Bank of Canada restated an "outperform" rating and set a $28.00 target price on shares of Cenovus Energy in a research report on Friday, January 26th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Cenovus Energy has an average rating of "Buy" and a consensus price target of $26.67.

Cenovus Energy Price Performance

CVE traded down $0.08 on Friday, hitting $20.49. 8,227,200 shares of the company were exchanged, compared to its average volume of 10,314,023. Cenovus Energy Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $21.90. The firm has a market capitalization of $38.22 billion, a P/E ratio of 11.38 and a beta of 2.10. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.91 and a current ratio of 1.70. The business's fifty day moving average is $19.74 and its 200 day moving average is $18.05.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings results 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. Cenovus Energy had a net margin of 8.73% and a return on equity of 16.53%. The company had revenue of $9.65 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same quarter in the prior year, the firm earned $0.29 earnings per share. As a group, sell-side analysts anticipate that Cenovus Energy Inc. will post 1.88 EPS for the current year.

Cenovus Energy Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.0981 dividend. This represents a $1.18 annualized dividend and a dividend yield of 5.74%. The ex-dividend date of this dividend is Thursday, May 16th. Cenovus Energy's dividend payout ratio (DPR) is presently 22.78%.

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.