Gold Investment Management Ltd. Boosts Holdings in Cenovus Energy Inc. (NYSE:CVE)

Gold Investment Management Ltd. raised its holdings in Cenovus Energy Inc. (NYSE:CVEFree Report) (TSE:CVE) by 4.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,881 shares of the oil and gas company’s stock after buying an additional 833 shares during the quarter. Gold Investment Management Ltd.’s holdings in Cenovus Energy were worth $378,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CVE. Trexquant Investment LP raised its position in shares of Cenovus Energy by 62.4% during the 3rd quarter. Trexquant Investment LP now owns 19,659 shares of the oil and gas company’s stock valued at $409,000 after acquiring an additional 7,550 shares in the last quarter. SkyView Investment Advisors LLC increased its position in shares of Cenovus Energy by 3.4% during the third quarter. SkyView Investment Advisors LLC now owns 31,886 shares of the oil and gas company’s stock valued at $664,000 after purchasing an additional 1,051 shares during the period. Public Sector Pension Investment Board increased its position in shares of Cenovus Energy by 1.5% during the third quarter. Public Sector Pension Investment Board now owns 367,580 shares of the oil and gas company’s stock valued at $7,689,000 after purchasing an additional 5,507 shares during the period. Deutsche Bank AG grew its position in Cenovus Energy by 16.2% in the third quarter. Deutsche Bank AG now owns 1,422,158 shares of the oil and gas company’s stock valued at $29,609,000 after acquiring an additional 198,062 shares during the period. Finally, American Century Companies Inc. grew its position in Cenovus Energy by 4.0% in the third quarter. American Century Companies Inc. now owns 662,694 shares of the oil and gas company’s stock valued at $13,798,000 after acquiring an additional 25,521 shares during the period. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Performance

NYSE:CVE traded up $0.39 during mid-day trading on Wednesday, hitting $19.66. 5,717,179 shares of the stock were exchanged, compared to its average volume of 9,557,333. The firm’s 50-day simple moving average is $19.77 and its 200 day simple moving average is $18.65. Cenovus Energy Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $21.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.70. The stock has a market capitalization of $36.55 billion, a price-to-earnings ratio of 10.92 and a beta of 2.07.

Cenovus Energy (NYSE:CVEGet Free Report) (TSE:CVE) last issued its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.11. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.98 billion. Cenovus Energy had a return on equity of 16.53% and a net margin of 8.73%. As a group, equities analysts anticipate that Cenovus Energy Inc. will post 2.04 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were paid a $0.0981 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date was Thursday, May 16th. Cenovus Energy’s dividend payout ratio is 28.89%.

Analysts Set New Price Targets

CVE has been the topic of a number of recent analyst reports. StockNews.com raised Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 5th. Raymond James raised Cenovus Energy to a “moderate buy” rating in a research note on Tuesday, May 28th. Finally, Morgan Stanley increased their price target on Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $29.00.

Read Our Latest Stock Analysis on Cenovus Energy

About Cenovus Energy

(Free Report)

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.

Further Reading

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

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