Cenovus Energy Inc. (NYSE:CVE) Shares Acquired by Gold Investment Management Ltd.

Gold Investment Management Ltd. boosted its holdings in Cenovus Energy Inc. (NYSE:CVEFree Report) (TSE:CVE) by 4.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,881 shares of the oil and gas company’s stock after buying an additional 833 shares during the quarter. Gold Investment Management Ltd.’s holdings in Cenovus Energy were worth $378,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Perspectives Inc bought a new stake in Cenovus Energy in the fourth quarter worth $28,000. Fifth Third Bancorp raised its holdings in shares of Cenovus Energy by 80.3% during the first quarter. Fifth Third Bancorp now owns 1,453 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 647 shares during the period. Banque Cantonale Vaudoise bought a new position in Cenovus Energy in the first quarter valued at $30,000. Headlands Technologies LLC bought a new stake in shares of Cenovus Energy during the 4th quarter worth about $33,000. Finally, Spire Wealth Management raised its stake in Cenovus Energy by 41.9% in the 4th quarter. Spire Wealth Management now owns 2,305 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 681 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. StockNews.com raised shares of Cenovus Energy from a “buy” rating to a “strong-buy” rating in a report on Friday, July 5th. Finally, Raymond James raised shares of Cenovus Energy to a “moderate buy” rating in a research note on Tuesday, May 28th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $29.00.

Read Our Latest Research Report on Cenovus Energy

Cenovus Energy Trading Up 2.1 %

CVE stock traded up $0.39 during midday trading on Wednesday, reaching $19.66. The company’s stock had a trading volume of 5,717,179 shares, compared to its average volume of 9,557,333. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.70. The stock has a fifty day simple moving average of $19.77 and a two-hundred day simple moving average of $18.65. Cenovus Energy Inc. has a 1 year low of $14.69 and a 1 year high of $21.90. The firm has a market capitalization of $36.55 billion, a price-to-earnings ratio of 10.92 and a beta of 2.07.

Cenovus Energy (NYSE:CVEGet Free Report) (TSE:CVE) last issued its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.11. Cenovus Energy had a return on equity of 16.53% and a net margin of 8.73%. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.98 billion. On average, equities research analysts predict that Cenovus Energy Inc. will post 2.04 EPS for the current year.

Cenovus Energy Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were given a dividend of $0.0981 per share. This represents a $1.18 annualized dividend and a yield of 5.99%. The ex-dividend date of this dividend was Thursday, May 16th. Cenovus Energy’s dividend payout ratio is currently 28.89%.

Cenovus Energy 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.

See Also

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Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

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