United Capital Financial Advisors LLC Takes $715,000 Position in Cenovus Energy Inc $CVE

United Capital Financial Advisors LLC purchased a new position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the 2nd quarter, HoldingsChannel reports. The fund purchased 28,804 shares of the oil and gas company’s stock, valued at approximately $715,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new stake in Cenovus Energy during the second quarter valued at $2,207,000. PenderFund Capital Management Ltd. bought a new position in Cenovus Energy in the 2nd quarter worth about $992,000. Pure Financial Advisors LLC purchased a new stake in shares of Cenovus Energy in the 2nd quarter valued at about $427,000. Corient Private Wealth LP purchased a new stake in shares of Cenovus Energy in the 2nd quarter valued at about $1,130,000. Finally, Bank of America Corp DE bought a new stake in shares of Cenovus Energy during the 2nd quarter valued at about $369,701,000. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on CVE shares. Morgan Stanley reissued an “overweight” rating on shares of Cenovus Energy in a report on Wednesday, August 19th. Scotiabank reiterated an “outperform” rating on shares of Cenovus Energy in a research report on Thursday, July 30th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Cenovus Energy in a research note on Thursday. Raymond James Financial lowered shares of Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.25.

Cenovus Energy Price Performance

CVE opened at $31.60 on Monday. The stock has a market capitalization of $58.44 billion, a P/E ratio of 12.15 and a beta of 0.34. The company has a current ratio of 1.63, a quick ratio of 1.04 and a debt-to-equity ratio of 0.25. Cenovus Energy Inc has a 12-month low of $15.63 and a 12-month high of $33.40. The stock has a 50-day moving average price of $28.40 and a 200-day moving average price of $26.91.

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. The company had revenue of $14.59 billion during the quarter, compared to the consensus estimate of $11.87 billion. Cenovus Energy had a return on equity of 21.08% and a net margin of 12.37%.Cenovus Energy’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS. Equities analysts predict that Cenovus Energy Inc will post 3.2 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. Cenovus Energy’s dividend payout ratio (DPR) is 24.62%.

About Cenovus Energy

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.