First Trust Advisors LP Has $11.53 Million Holdings in Cenovus Energy Inc $CVE

First Trust Advisors LP grew its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 77.2% during the first quarter, HoldingsChannel.com reports. The firm owned 434,746 shares of the oil and gas company’s stock after buying an additional 189,371 shares during the quarter. First Trust Advisors LP’s holdings in Cenovus Energy were worth $11,532,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CVE. Financial Management Professionals Inc. bought a new stake in Cenovus Energy in the 4th quarter valued at approximately $25,000. Transamerica Financial Advisors LLC raised its holdings in shares of Cenovus Energy by 1,302.7% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 1,433 shares during the last quarter. NBC Securities Inc. lifted its position in shares of Cenovus Energy by 961.5% in the fourth quarter. NBC Securities Inc. now owns 1,656 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 1,500 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Cenovus Energy during the fourth quarter worth $38,000. Finally, Geneos Wealth Management Inc. grew its position in Cenovus Energy by 74.1% in the second quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 1,384 shares in the last quarter. 51.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVE. Zacks Research cut shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. UBS Group reaffirmed a “buy” rating on shares of Cenovus Energy in a research report on Thursday, April 9th. Raymond James Financial lowered Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, May 6th. Royal Bank Of Canada increased their price target on Cenovus Energy from $47.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Desjardins upgraded Cenovus Energy to a “moderate buy” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Cenovus Energy currently has an average rating of “Moderate Buy” and an average price target of $36.25.

Cenovus Energy Stock Performance

Shares of CVE stock opened at $30.14 on Friday. The company has a fifty day moving average price of $27.28 and a two-hundred day moving average price of $25.22. Cenovus Energy Inc has a one year low of $14.48 and a one year high of $32.07. The stock has a market cap of $56.07 billion, a P/E ratio of 11.59 and a beta of 0.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.00.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $1.11 earnings per share for the quarter, hitting the consensus estimate of $1.11. Cenovus Energy had a net margin of 12.37% and a return on equity of 21.08%. The company had revenue of $14.59 billion for the quarter, compared to analyst estimates of $11.87 billion. During the same period in the previous year, the business earned $0.45 EPS. Cenovus Energy’s revenue for the quarter was up 47.9% compared to the same quarter last year. As a group, equities analysts predict that Cenovus Energy Inc will post 3.02 EPS for the current year.

Cenovus Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Tuesday, September 15th. Cenovus Energy’s payout ratio 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.