Raymond James Financial Services Advisors Inc. increased its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 107.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,857 shares of the oil and gas company’s stock after purchasing an additional 11,296 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Cenovus Energy were worth $219,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Allegis Investment Advisors LLC lifted its holdings in Cenovus Energy by 16.9% in the second quarter. Allegis Investment Advisors LLC now owns 13,933 shares of the oil and gas company’s stock valued at $103,000 after acquiring an additional 2,016 shares during the period. Cigna Investments Inc. New purchased a new stake in shares of Cenovus Energy in the second quarter valued at approximately $110,000. First Commonwealth Financial Corp PA purchased a new stake in shares of Cenovus Energy in the second quarter valued at approximately $114,000. Sciencast Management LP purchased a new stake in shares of Cenovus Energy in the second quarter valued at approximately $124,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Cenovus Energy in the second quarter valued at approximately $130,000. 56.84% of the stock is owned by hedge funds and other institutional investors.

Shares of Cenovus Energy Inc (NYSE:CVE) opened at $9.44 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.10 and a current ratio of 1.41. Cenovus Energy Inc has a 12-month low of $6.76 and a 12-month high of $16.82. The company has a market capitalization of $11,599.78, a P/E ratio of 13.49, a P/E/G ratio of 2.72 and a beta of 0.61.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.039 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Thursday, December 14th. Cenovus Energy’s payout ratio is 8.08%.

A number of analysts have recently commented on the company. Canaccord Genuity restated a “buy” rating and issued a $14.50 price objective on shares of Cenovus Energy in a research report on Monday, September 25th. BidaskClub cut Cenovus Energy from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Morgan Stanley set a $15.00 price objective on Cenovus Energy and gave the company a “buy” rating in a research report on Friday, October 13th. Royal Bank Of Canada restated a “buy” rating and issued a $15.00 price objective on shares of Cenovus Energy in a research report on Monday, October 16th. Finally, Zacks Investment Research upgraded Cenovus Energy from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Thursday, October 19th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. Cenovus Energy presently has a consensus rating of “Hold” and an average target price of $14.42.

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About Cenovus Energy

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Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

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