Northwest & Ethical Investments L.P. Buys 78,981 Shares of Cenovus Energy Inc. (NYSE:CVE)

Northwest & Ethical Investments L.P. raised its holdings in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 56.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 219,683 shares of the oil and gas company's stock after buying an additional 78,981 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Cenovus Energy were worth $3,324,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Truvestments Capital LLC acquired a new position in shares of Cenovus Energy during the 3rd quarter valued at $25,000. Farther Finance Advisors LLC boosted its position in shares of Cenovus Energy by 104.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 851 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Cenovus Energy in the 4th quarter valued at about $67,000. Blue Trust Inc. increased its position in Cenovus Energy by 54.7% in the 4th quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company's stock valued at $72,000 after buying an additional 1,677 shares in the last quarter. Finally, SevenBridge Financial Group LLC acquired a new position in Cenovus Energy during the 3rd quarter worth approximately $162,000. 51.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Royal Bank of Canada decreased their price objective on Cenovus Energy from $26.00 to $25.00 and set an "outperform" rating for the company in a report on Friday, February 21st. StockNews.com lowered shares of Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, National Bank Financial downgraded shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $29.25.

Remove Ads

Cenovus Energy Stock Up 0.5 %

CVE traded up $0.07 during mid-day trading on Tuesday, reaching $14.37. 7,186,622 shares of the stock were exchanged, compared to its average volume of 8,468,963. Cenovus Energy Inc. has a 1 year low of $12.08 and a 1 year high of $21.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. The stock has a market capitalization of $26.20 billion, a PE ratio of 11.88 and a beta of 1.99. The company has a 50 day moving average price of $14.33 and a two-hundred day moving average price of $15.48.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings data 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 firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $11.08 billion. As a group, research analysts anticipate that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.1269 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a yield of 3.53%. Cenovus Energy's dividend payout ratio (DPR) is currently 40.50%.

Cenovus Energy Company 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.