Assetmark Inc. Acquires 13,527 Shares of Cenovus Energy Inc. (NYSE:CVE)

Assetmark Inc. raised its holdings in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 16.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,210 shares of the oil and gas company’s stock after buying an additional 13,527 shares during the quarter. Assetmark Inc.’s holdings in Cenovus Energy were worth $1,635,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Trexquant Investment LP increased its holdings in Cenovus Energy by 3,135.0% in the 4th quarter. Trexquant Investment LP now owns 635,961 shares of the oil and gas company’s stock valued at $10,589,000 after buying an additional 616,302 shares during the period. Clearbridge Investments LLC bought a new stake in shares of Cenovus Energy in the 4th quarter worth about $34,384,000. Hillsdale Investment Management Inc. bought a new stake in shares of Cenovus Energy in the 4th quarter worth about $2,816,000. Dynamic Technology Lab Private Ltd grew its holdings in shares of Cenovus Energy by 194.3% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 65,581 shares of the oil and gas company’s stock worth $1,092,000 after purchasing an additional 43,299 shares during the last quarter. Finally, Anthracite Investment Company Inc. bought a new stake in shares of Cenovus Energy in the 4th quarter worth about $832,000. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Up 1.9 %

Shares of NYSE:CVE opened at $20.31 on Friday. Cenovus Energy Inc. has a 12 month low of $14.69 and a 12 month high of $21.90. The company’s 50-day moving average price is $20.49 and its two-hundred day moving average price is $18.12. The company has a quick ratio of 1.01, a current ratio of 1.70 and a debt-to-equity ratio of 0.25. The firm has a market cap of $37.72 billion, a P/E ratio of 11.28 and a beta of 2.10.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. Cenovus Energy had a net margin of 8.73% and a return on equity of 16.53%. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.98 billion. As a group, research analysts forecast that Cenovus Energy Inc. will post 1.94 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.0981 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.18 dividend on an annualized basis and a yield of 5.79%. Cenovus Energy’s payout ratio is presently 21.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. UBS Group raised shares of Cenovus Energy from a “neutral” rating to a “buy” rating in a report on Friday, February 23rd. Morgan Stanley upped their target price on shares of Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, StockNews.com raised shares of Cenovus Energy from a “buy” rating to a “strong-buy” rating in a report on Friday, May 3rd. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $26.67.

Cenovus Energy Company 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.