Prevail Innovative Wealth Advisors LLC purchased a new stake in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 232,692 shares of the oil and gas company's stock, valued at approximately $3,525,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in shares of Cenovus Energy by 11.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,653,192 shares of the oil and gas company's stock valued at $61,163,000 after buying an additional 369,021 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Cenovus Energy by 65.9% in the third quarter. Cerity Partners LLC now owns 26,567 shares of the oil and gas company's stock valued at $444,000 after acquiring an additional 10,554 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Cenovus Energy by 184.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 568,338 shares of the oil and gas company's stock valued at $9,508,000 after purchasing an additional 368,885 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Cenovus Energy by 3.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 385,754 shares of the oil and gas company's stock worth $6,459,000 after acquiring an additional 14,414 shares in the last quarter. Finally, PDT Partners LLC acquired a new stake in Cenovus Energy during the third quarter valued at approximately $955,000. 51.19% of the stock is currently owned by institutional investors.
Cenovus Energy Stock Performance
CVE stock traded down $0.96 during mid-day trading on Thursday, reaching $13.08. 7,752,771 shares of the stock traded hands, compared to its average volume of 8,529,453. The firm has a market capitalization of $23.85 billion, a PE ratio of 10.81 and a beta of 1.99. The business has a 50-day moving average of $14.20 and a two-hundred day moving average of $15.37. Cenovus Energy Inc. has a 52 week low of $12.08 and a 52 week high of $21.90. 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 earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.27). Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $11.08 billion. As a group, equities analysts predict that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.
Cenovus Energy Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.1269 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date was Friday, March 14th. Cenovus Energy's dividend payout ratio (DPR) is presently 40.50%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the company. Scotiabank upgraded Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a report on Wednesday, March 26th. Royal Bank of Canada restated an "outperform" rating and set a $25.00 price target on shares of Cenovus Energy in a report on Wednesday. StockNews.com lowered shares of Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. Finally, National Bank Financial cut shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a report on Friday, February 21st. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cenovus Energy has a consensus rating of "Moderate Buy" and a consensus target price of $29.00.
View Our Latest Stock Analysis on Cenovus Energy
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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