Cenovus Energy Inc $CVE Shares Acquired by Capital International Inc. CA

Capital International Inc. CA lifted its stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 115.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,581,833 shares of the oil and gas company’s stock after buying an additional 1,919,041 shares during the period. Capital International Inc. CA owned approximately 0.20% of Cenovus Energy worth $60,823,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVE. Atlantic Union Bankshares Corp purchased a new stake in Cenovus Energy during the 2nd quarter valued at about $27,000. Allworth Financial LP boosted its position in Cenovus Energy by 104.3% in the second quarter. Allworth Financial LP now owns 2,288 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 1,168 shares during the last quarter. Geneos Wealth Management Inc. boosted 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 buying an additional 1,384 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in 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 buying an additional 1,800 shares during the period. Finally, Advisors Asset Management Inc. purchased a new position in Cenovus Energy during the 2nd quarter worth approximately $78,000. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CVE. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Cenovus Energy in a research note on Tuesday, January 20th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Cenovus Energy in a research note on Friday, February 20th. Veritas cut shares of Cenovus Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, February 23rd. TD Securities reissued a “buy” rating on shares of Cenovus Energy in a report on Friday, February 20th. Finally, Wall Street Zen lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.33.

Cenovus Energy Stock Performance

NYSE CVE opened at $22.78 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.04. The stock’s 50 day simple moving average is $19.91 and its 200-day simple moving average is $18.18. The company has a market cap of $42.83 billion, a PE ratio of 14.89 and a beta of 0.43. Cenovus Energy Inc has a 1-year low of $10.23 and a 1-year high of $23.89.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.28 by $0.08. Cenovus Energy had a return on equity of 13.25% and a net margin of 7.92%.The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $10.89 billion. During the same period in the previous year, the business earned $0.07 earnings per share. As a group, equities research analysts anticipate that Cenovus Energy Inc will post 1.49 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, March 13th. Cenovus Energy’s dividend payout ratio (DPR) is currently 37.25%.

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.