Raymond James Financial Inc. Makes New Investment in Cenovus Energy Inc. (NYSE:CVE)

Raymond James Financial Inc. bought a new position in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 240,850 shares of the oil and gas company's stock, valued at approximately $3,649,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new position in shares of Cenovus Energy during the 3rd quarter valued at about $25,000. Sierra Ocean LLC bought a new stake in Cenovus Energy during the fourth quarter worth approximately $67,000. Blue Trust Inc. grew its position in Cenovus Energy by 54.7% in the fourth quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company's stock worth $72,000 after buying an additional 1,677 shares during the last quarter. Empirical Asset Management LLC bought a new position in shares of Cenovus Energy in the fourth quarter valued at $174,000. Finally, SVB Wealth LLC acquired a new stake in shares of Cenovus Energy during the 4th quarter valued at $182,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Stock Up 1.0 %

Shares of CVE traded up $0.13 during trading hours on Monday, reaching $13.91. The company's stock had a trading volume of 7,429,860 shares, compared to its average volume of 8,535,349. The company has a 50 day moving average of $14.24 and a two-hundred day moving average of $15.40. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The firm has a market cap of $25.36 billion, a price-to-earnings ratio of 11.50 and a beta of 1.99. Cenovus Energy Inc. has a 1-year low of $12.08 and a 1-year high of $21.90.

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Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings data 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). The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. As a group, research analysts predict that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The company also recently disclosed 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 is Friday, March 14th. This represents a $0.51 annualized dividend and a dividend yield of 3.65%. Cenovus Energy's dividend payout ratio is 40.50%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CVE shares. Royal Bank of Canada decreased their target price on Cenovus Energy from $26.00 to $25.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. National Bank Financial downgraded Cenovus Energy from an "outperform" rating to a "sector perform" rating in a report on Friday, February 21st. StockNews.com cut shares of Cenovus Energy from a "buy" rating to a "hold" rating in a report on Saturday, December 28th. Morgan Stanley restated an "overweight" rating on shares of Cenovus Energy in a report on Wednesday, March 26th. Finally, Scotiabank upgraded shares of Cenovus Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. Three 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $29.00.

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.