Westerkirk Capital Inc. Acquires Shares of 65,590 Cenovus Energy Inc $CVE

Westerkirk Capital Inc. acquired a new position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 65,590 shares of the oil and gas company’s stock, valued at approximately $892,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers raised its holdings in Cenovus Energy by 10.9% during the first quarter. Cetera Investment Advisers now owns 51,101 shares of the oil and gas company’s stock worth $711,000 after purchasing an additional 5,005 shares in the last quarter. LPL Financial LLC increased its position in Cenovus Energy by 71.1% during the 1st quarter. LPL Financial LLC now owns 215,847 shares of the oil and gas company’s stock worth $3,002,000 after purchasing an additional 89,660 shares during the period. XTX Topco Ltd purchased a new position in shares of Cenovus Energy during the 1st quarter worth approximately $307,000. Arkadios Wealth Advisors raised its stake in shares of Cenovus Energy by 11.4% during the 1st quarter. Arkadios Wealth Advisors now owns 19,943 shares of the oil and gas company’s stock worth $277,000 after buying an additional 2,035 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Cenovus Energy by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 54,483,601 shares of the oil and gas company’s stock valued at $757,213,000 after buying an additional 4,401,045 shares during the period. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CVE shares. National Bank Financial raised Cenovus Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, August 22nd. BMO Capital Markets set a $29.00 target price on shares of Cenovus Energy in a research report on Monday, November 17th. National Bankshares restated an “outperform” rating on shares of Cenovus Energy in a research report on Wednesday, September 10th. Wall Street Zen raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, TD Securities reissued a “buy” rating on shares of Cenovus Energy in a research note on Tuesday, September 30th. Four equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Cenovus Energy has an average rating of “Buy” and an average price target of $25.67.

Cenovus Energy Stock Performance

Shares of CVE opened at $17.56 on Wednesday. Cenovus Energy Inc has a 12-month low of $10.23 and a 12-month high of $18.75. The stock has a market cap of $33.19 billion, a P/E ratio of 14.39 and a beta of 0.52. The company has a current ratio of 1.73, a quick ratio of 1.18 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average of $17.40 and a two-hundred day moving average of $15.78.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Friday, October 31st. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.12. Cenovus Energy had a return on equity of 10.73% and a net margin of 6.23%.The firm had revenue of $10.87 billion during the quarter, compared to the consensus estimate of $12.51 billion. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. As a group, research analysts predict that Cenovus Energy Inc will post 1.49 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Monday, December 15th. Cenovus Energy’s dividend payout ratio is currently 47.54%.

About Cenovus Energy

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.