17,216 Shares in Cenovus Energy Inc $CVE Acquired by Pure Financial Advisors LLC

Pure Financial Advisors LLC bought a new position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 17,216 shares of the oil and gas company’s stock, valued at approximately $427,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gables Capital Management Inc. bought a new stake in shares of Cenovus Energy in the second quarter worth $35,000. Transamerica Financial Advisors LLC lifted its holdings in Cenovus Energy by 1,302.7% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 1,433 shares during the period. NBC Securities Inc. boosted its position in Cenovus Energy by 961.5% in the fourth quarter. NBC Securities Inc. now owns 1,656 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 1,500 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Cenovus Energy during the fourth quarter valued at approximately $38,000. Finally, Allworth Financial LP purchased a new position in shares of Cenovus Energy during the 2nd quarter worth $68,000. 51.19% of the stock is owned by institutional investors.

Cenovus Energy Stock Up 0.7%

CVE opened at $31.71 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.04 and a current ratio of 1.63. Cenovus Energy Inc has a fifty-two week low of $15.63 and a fifty-two week high of $33.40. The firm’s fifty day moving average is $28.27 and its 200 day moving average is $26.83. The stock has a market cap of $58.65 billion, a price-to-earnings ratio of 12.20 and a beta of 0.34.

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

Cenovus Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. Cenovus Energy’s dividend payout ratio (DPR) is currently 24.62%.

Analysts Set New Price Targets

Several research firms have recently commented on CVE. Zacks Research lowered Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Cenovus Energy in a report on Thursday. Desjardins upgraded Cenovus Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Royal Bank Of Canada raised their price objective on Cenovus Energy from $47.00 to $51.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Finally, Scotiabank reiterated an “outperform” rating on shares of Cenovus Energy in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.25.

About Cenovus Energy

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.