Cookson Peirce & Co. Inc. Has $28.57 Million Position in Cenovus Energy Inc $CVE

Cookson Peirce & Co. Inc. boosted its stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 18.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,151,707 shares of the oil and gas company’s stock after purchasing an additional 177,134 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Cenovus Energy were worth $28,574,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital Research Global Investors boosted its holdings in shares of Cenovus Energy by 16.6% during the 4th quarter. Capital Research Global Investors now owns 124,313,513 shares of the oil and gas company’s stock worth $2,103,090,000 after buying an additional 17,730,542 shares during the period. Vanguard Group Inc. raised its holdings in Cenovus Energy by 12.8% in the 4th quarter. Vanguard Group Inc. now owns 63,525,477 shares of the oil and gas company’s stock worth $1,074,660,000 after acquiring an additional 7,197,843 shares during the period. Capital International Investors raised its holdings in Cenovus Energy by 3.9% in the 4th quarter. Capital International Investors now owns 50,979,140 shares of the oil and gas company’s stock worth $862,505,000 after acquiring an additional 1,903,432 shares during the period. FIL Ltd lifted its position in Cenovus Energy by 40.0% during the 4th quarter. FIL Ltd now owns 38,533,059 shares of the oil and gas company’s stock worth $651,880,000 after acquiring an additional 11,019,212 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Cenovus Energy by 111.2% during the 1st quarter. Bank of America Corp DE now owns 22,770,723 shares of the oil and gas company’s stock worth $604,107,000 after acquiring an additional 11,990,405 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Weiss Ratings upgraded shares of Cenovus Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Desjardins raised Cenovus Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Wall Street Zen upgraded Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. The Goldman Sachs Group restated a “buy” rating on shares of Cenovus Energy in a research note on Wednesday, May 13th. Finally, Raymond James Financial lowered Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.25.

Cenovus Energy Stock Up 0.3%

Shares of CVE opened at $32.58 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.04 and a current ratio of 1.63. The company has a 50-day simple moving average of $27.74 and a 200-day simple moving average of $26.41. Cenovus Energy Inc has a 52 week low of $14.85 and a 52 week high of $33.40. The firm has a market capitalization of $60.25 billion, a P/E ratio of 12.53 and a beta of 0.34.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its earnings results on Wednesday, July 29th. The oil and gas company reported $1.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.11. Cenovus Energy had a return on equity of 21.08% and a net margin of 12.37%.The business had revenue of $14.59 billion for the quarter, compared to the consensus estimate of $11.87 billion. During the same period last year, the business earned $0.45 earnings per share. The firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. On average, equities research analysts expect that Cenovus Energy Inc will post 3.2 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a $0.22 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.7%. Cenovus Energy’s dividend payout ratio (DPR) is currently 24.62%.

Cenovus Energy Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.