Raymond James & Associates Acquires 19,566 Shares of Cenovus Energy Inc. (NYSE:CVE)

Raymond James & Associates grew its stake in Cenovus Energy Inc. (NYSE:CVE – Get Rating) (TSE:CVE) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 309,768 shares of the oil and gas company’s stock after purchasing an additional 19,566 shares during the period. Raymond James & Associates’ holdings in Cenovus Energy were worth $6,013,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ensign Peak Advisors Inc grew its stake in shares of Cenovus Energy by 2.6% during the third quarter. Ensign Peak Advisors Inc now owns 63,534 shares of the oil and gas company’s stock worth $1,065,000 after buying an additional 1,600 shares during the last quarter. Trexquant Investment LP increased its holdings in Cenovus Energy by 598.6% in the 3rd quarter. Trexquant Investment LP now owns 234,844 shares of the oil and gas company’s stock worth $3,610,000 after purchasing an additional 201,227 shares in the last quarter. MQS Management LLC bought a new position in Cenovus Energy in the third quarter valued at about $244,000. Cordatus Wealth Management LLC acquired a new stake in shares of Cenovus Energy during the fourth quarter valued at about $537,000. Finally, Creative Planning grew its holdings in shares of Cenovus Energy by 17.8% during the third quarter. Creative Planning now owns 193,707 shares of the oil and gas company’s stock worth $2,977,000 after purchasing an additional 29,207 shares during the last quarter. 49.27% of the stock is owned by institutional investors.

Cenovus Energy Trading Up 0.5 %

NYSE:CVE opened at $16.51 on Monday. Cenovus Energy Inc. has a 52 week low of $14.44 and a 52 week high of $24.91. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.94 and a current ratio of 1.63. The firm’s fifty day moving average is $16.82 and its 200-day moving average is $18.40. The firm has a market cap of $31.46 billion, a P/E ratio of 7.94 and a beta of 2.24.

Cenovus Energy (NYSE:CVE – Get Rating) (TSE:CVE) last issued its quarterly earnings results on Thursday, February 16th. The oil and gas company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.19). Cenovus Energy had a net margin of 8.75% and a return on equity of 20.38%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $9.77 billion. Equities analysts expect that Cenovus Energy Inc. will post 1.91 earnings per share for the current year.

Cenovus Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be given a dividend of $0.104 per share. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.42 annualized dividend and a dividend yield of 2.52%. Cenovus Energy’s dividend payout ratio is presently 14.90%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Scotiabank downgraded shares of Cenovus Energy from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, April 14th. BMO Capital Markets reduced their price objective on shares of Cenovus Energy from C$33.00 to C$32.00 in a research note on Friday, February 17th. Finally, StockNews.com assumed coverage on Cenovus Energy in a research report on Thursday. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Cenovus Energy presently has an average rating of “Hold” and a consensus price target of $32.00.

Cenovus Energy Profile

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Cenovus Energy, Inc is a Canadian-based integrated energy company, which engages in the provision of gas and oil. It operates through the following segments: Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Corporate and Eliminations. The Oil Sands segment is involved in the development and production of bitumen and heavy oil in northern Alberta and Saskatchewan.