First Trust Advisors LP Has $11.02 Million Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

First Trust Advisors LP grew its stake in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 34.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 727,585 shares of the oil and gas company's stock after purchasing an additional 187,087 shares during the quarter. First Trust Advisors LP's holdings in Cenovus Energy were worth $11,024,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its holdings in Cenovus Energy by 104.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company's stock worth $25,000 after buying an additional 851 shares during the last quarter. Sierra Ocean LLC bought a new position in shares of Cenovus Energy in the 4th quarter valued at about $67,000. Blue Trust Inc. increased its stake in shares of Cenovus Energy by 54.7% during the 4th quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company's stock worth $72,000 after purchasing an additional 1,677 shares during the last quarter. Empirical Asset Management LLC bought a new stake in shares of Cenovus Energy in the 4th quarter valued at about $174,000. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Cenovus Energy by 177.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 11,991 shares of the oil and gas company's stock valued at $184,000 after purchasing an additional 7,669 shares during the period. Institutional investors own 51.19% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVE. National Bankshares reissued a "sector perform" rating on shares of Cenovus Energy in a research report on Friday. Scotiabank raised Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. Morgan Stanley reaffirmed an "overweight" rating on shares of Cenovus Energy in a report on Tuesday, April 15th. Royal Bank of Canada reiterated an "outperform" rating and issued a $25.00 price objective on shares of Cenovus Energy in a report on Friday, April 11th. Finally, National Bank Financial cut shares of 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, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Cenovus Energy has a consensus rating of "Moderate Buy" and an average target price of $29.00.

Cenovus Energy Trading Down 0.3 %

CVE stock opened at $12.07 on Monday. Cenovus Energy Inc. has a 52 week low of $10.23 and a 52 week high of $21.58. The company has a market capitalization of $22.00 billion, a PE ratio of 9.98 and a beta of 1.46. The company's 50-day simple moving average is $12.95 and its 200 day simple moving average is $14.64. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) 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 business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $11.08 billion. As a group, sell-side analysts anticipate that Cenovus Energy Inc. will post 1.49 earnings per share for the current year.

Cenovus Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.1269 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.51 annualized dividend and a yield of 4.20%. Cenovus Energy's dividend payout ratio is presently 40.50%.

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.

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