Raymond James Financial Inc. Acquires New Holdings in Cenovus Energy Inc. (NYSE:CVE)

Raymond James Financial Inc. acquired a new stake in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 240,850 shares of the oil and gas company's stock, valued at approximately $3,649,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in Cenovus Energy in the third quarter worth about $408,000. SkyView Investment Advisors LLC grew its holdings in shares of Cenovus Energy by 5.1% during the 3rd quarter. SkyView Investment Advisors LLC now owns 43,632 shares of the oil and gas company's stock worth $730,000 after acquiring an additional 2,122 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Cenovus Energy by 1,289.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 430,781 shares of the oil and gas company's stock worth $6,526,000 after acquiring an additional 399,787 shares in the last quarter. Foundation Resource Management Inc. lifted its stake in shares of Cenovus Energy by 1.5% in the 4th quarter. Foundation Resource Management Inc. now owns 435,264 shares of the oil and gas company's stock valued at $6,594,000 after purchasing an additional 6,509 shares during the period. Finally, Gateway Investment Advisers LLC boosted its position in shares of Cenovus Energy by 175.4% during the fourth quarter. Gateway Investment Advisers LLC now owns 103,509 shares of the oil and gas company's stock valued at $1,568,000 after purchasing an additional 65,921 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors.

Cenovus Energy Stock Down 0.5 %

Cenovus Energy stock traded down $0.07 during trading hours on Friday, hitting $11.91. The stock had a trading volume of 2,703,734 shares, compared to its average volume of 8,601,419. The stock's 50-day moving average price is $12.71 and its 200-day moving average price is $14.52. The stock has a market capitalization of $21.70 billion, a P/E ratio of 9.86 and a beta of 1.46. Cenovus Energy Inc. has a 12-month low of $10.23 and a 12-month high of $21.08. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings data on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.27). Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. The firm had revenue of $8.40 billion during the quarter, compared to analysts' expectations of $11.08 billion. Equities research analysts anticipate that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.1269 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date was Friday, March 14th. Cenovus Energy's payout ratio is currently 40.50%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CVE. Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a report on Tuesday, April 15th. Royal Bank of Canada reissued an "outperform" rating and set a $25.00 price target on shares of Cenovus Energy in a research report on Friday, April 11th. Scotiabank upgraded shares of Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. The Goldman Sachs Group lowered their target price on shares of Cenovus Energy from $18.00 to $16.00 and set a "buy" rating for the company in a report on Wednesday. Finally, National Bank Financial downgraded Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $25.75.

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.