OMERS ADMINISTRATION Corp Purchases Shares of 696,476 Cenovus Energy Inc $CVE

OMERS ADMINISTRATION Corp purchased a new stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 696,476 shares of the oil and gas company’s stock, valued at approximately $17,275,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Research Global Investors increased its position in Cenovus Energy by 16.6% in the 4th quarter. Capital Research Global Investors now owns 124,313,513 shares of the oil and gas company’s stock valued at $2,103,090,000 after acquiring an additional 17,730,542 shares during the period. GQG Partners LLC bought a new stake in Cenovus Energy during the 2nd quarter valued at $411,552,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Cenovus Energy during the 2nd quarter worth $355,752,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Cenovus Energy by 440.8% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 15,414,179 shares of the oil and gas company’s stock worth $260,797,000 after acquiring an additional 12,564,179 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Cenovus Energy by 111.2% in the first quarter. Bank of America Corp DE now owns 22,770,723 shares of the oil and gas company’s stock worth $604,107,000 after purchasing an additional 11,990,405 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Stock Performance

Shares of NYSE CVE opened at $32.99 on Monday. The stock has a fifty day moving average price of $27.83 and a two-hundred day moving average price of $26.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.04 and a current ratio of 1.63. The firm has a market cap of $61.01 billion, a P/E ratio of 12.69 and a beta of 0.34. Cenovus Energy Inc has a 1 year low of $15.44 and a 1 year high of $33.40.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $1.11 EPS for the quarter, hitting analysts’ consensus estimates of $1.11. The company had revenue of $14.59 billion for the quarter, compared to the consensus estimate of $11.87 billion. Cenovus Energy had a return on equity of 21.08% and a net margin of 12.37%.The company’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 EPS. Research analysts forecast that Cenovus Energy Inc will post 3.2 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Cenovus Energy’s payout ratio is presently 24.62%.

Analyst Ratings Changes

A number of brokerages have recently commented on CVE. Raymond James Financial lowered Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, May 6th. Morgan Stanley reaffirmed an “overweight” rating on shares of Cenovus Energy in a report on Wednesday. Lake Street Capital set a $36.00 target price on shares of Cenovus Energy in a research report on Wednesday, May 13th. The Goldman Sachs Group reissued a “buy” rating on shares of Cenovus Energy in a research note on Wednesday, May 13th. Finally, Zacks Research downgraded shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.25.

Cenovus Energy Company Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.