Panview Capital Ltd Acquires 190,000 Shares of Cenovus Energy Inc $CVE

Panview Capital Ltd raised its holdings in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 16.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,355,000 shares of the oil and gas company’s stock after buying an additional 190,000 shares during the quarter. Cenovus Energy comprises 5.9% of Panview Capital Ltd’s holdings, making the stock its 8th largest position. Panview Capital Ltd’s holdings in Cenovus Energy were worth $18,428,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Mackenzie Financial Corp grew its stake in Cenovus Energy by 56.5% during the 1st quarter. Mackenzie Financial Corp now owns 19,481,233 shares of the oil and gas company’s stock valued at $270,742,000 after purchasing an additional 7,035,004 shares during the last quarter. 111 Capital boosted its position in Cenovus Energy by 75.6% in the second quarter. 111 Capital now owns 74,541 shares of the oil and gas company’s stock valued at $1,015,000 after buying an additional 32,092 shares during the last quarter. LPL Financial LLC increased its holdings in Cenovus Energy by 71.1% in the 1st quarter. LPL Financial LLC now owns 215,847 shares of the oil and gas company’s stock worth $3,002,000 after buying an additional 89,660 shares during the period. Bank of Nova Scotia raised its position in Cenovus Energy by 3.2% during the 1st quarter. Bank of Nova Scotia now owns 7,569,869 shares of the oil and gas company’s stock worth $105,221,000 after buying an additional 234,840 shares during the last quarter. Finally, L1 Capital Pty Ltd raised its position in Cenovus Energy by 23.2% during the 1st quarter. L1 Capital Pty Ltd now owns 8,214,366 shares of the oil and gas company’s stock worth $114,262,000 after buying an additional 1,544,848 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Stock Performance

NYSE CVE opened at $17.44 on Friday. The stock has a market capitalization of $30.79 billion, a price-to-earnings ratio of 17.26 and a beta of 0.86. The stock has a 50-day moving average of $17.05 and a 200 day moving average of $15.10. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 0.24. Cenovus Energy Inc has a twelve month low of $10.23 and a twelve month high of $18.60.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Friday, October 31st. The oil and gas company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.40 by $0.12. The company had revenue of $10.87 billion for the quarter, compared to analyst estimates of $12.51 billion. Cenovus Energy had a return on equity of 9.06% and a net margin of 5.18%.Cenovus Energy’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.42 earnings per share. Sell-side analysts anticipate that Cenovus Energy Inc will post 1.49 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 15th. This represents a $0.80 dividend on an annualized basis and a yield of 4.6%. Cenovus Energy’s dividend payout ratio is currently 45.90%.

Analysts Set New Price Targets

Several research firms have recently commented on CVE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cenovus Energy in a report on Thursday, October 30th. UBS Group restated a “buy” rating on shares of Cenovus Energy in a research report on Monday, August 25th. TD Securities reaffirmed a “buy” rating on shares of Cenovus Energy in a research report on Tuesday, September 30th. National Bank Financial upgraded Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 22nd. Finally, National Bankshares reissued an “outperform” rating on shares of Cenovus Energy in a report on Wednesday, September 10th. Four analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $21.00.

Cenovus Energy Profile

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.