696,476 Shares in Cenovus Energy Inc $CVE Acquired by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp bought a new stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) in the 2nd quarter, HoldingsChannel reports. The firm bought 696,476 shares of the oil and gas company’s stock, valued at approximately $17,275,000.

Other large investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its holdings in shares of Cenovus Energy by 574.8% in the first quarter. Jones Financial Companies Lllp now owns 21,607 shares of the oil and gas company’s stock valued at $301,000 after buying an additional 18,405 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Cenovus Energy by 6.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 747,472 shares of the oil and gas company’s stock worth $10,397,000 after acquiring an additional 44,125 shares in the last quarter. Prudential Financial Inc. bought a new stake in shares of Cenovus Energy during the 2nd quarter worth $525,000. EverSource Wealth Advisors LLC grew its holdings in shares of Cenovus Energy by 57.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,912 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Cenovus Energy in the 2nd quarter worth $495,000. 51.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Scotiabank reaffirmed an “outperform” rating on shares of Cenovus Energy in a research report on Thursday, July 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Cenovus Energy in a research report on Wednesday, May 13th. Weiss Ratings raised Cenovus Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Morgan Stanley restated an “overweight” rating on shares of Cenovus Energy in a report on Wednesday. Finally, Desjardins raised shares of Cenovus Energy to a “moderate buy” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.25.

Cenovus Energy Trading Up 0.2%

Cenovus Energy stock opened at $32.99 on Monday. Cenovus Energy Inc has a 52 week low of $15.44 and a 52 week high of $33.40. 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 firm has a market capitalization of $61.01 billion, a price-to-earnings ratio of 12.69 and a beta of 0.34. The company has a 50 day moving average price of $27.83 and a 200 day moving average price of $26.51.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Wednesday, July 29th. The oil and gas company reported $1.11 earnings per share (EPS) for the quarter, meeting 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 the consensus estimate of $11.87 billion. During the same period in the previous year, the business earned $0.45 EPS. The company’s revenue was up 47.9% on a year-over-year basis. Research analysts forecast that Cenovus Energy Inc will post 3.2 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 given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th. 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.