WCG Wealth Advisors LLC Purchases Shares of 41,208 Cenovus Energy Inc $CVE

WCG Wealth Advisors LLC purchased a new stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 41,208 shares of the oil and gas company’s stock, valued at approximately $697,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Gateway Investment Advisers LLC lifted its stake in Cenovus Energy by 0.6% in the fourth quarter. Gateway Investment Advisers LLC now owns 93,986 shares of the oil and gas company’s stock valued at $1,590,000 after buying an additional 523 shares during the period. International Assets Investment Management LLC lifted its stake in Cenovus Energy by 0.9% in the fourth quarter. International Assets Investment Management LLC now owns 65,248 shares of the oil and gas company’s stock valued at $1,104,000 after buying an additional 565 shares during the period. Farther Finance Advisors LLC lifted its stake in Cenovus Energy by 24.4% in the fourth quarter. Farther Finance Advisors LLC now owns 3,307 shares of the oil and gas company’s stock valued at $56,000 after buying an additional 649 shares during the period. IFP Advisors Inc lifted its stake in Cenovus Energy by 15.7% in the fourth quarter. IFP Advisors Inc now owns 4,839 shares of the oil and gas company’s stock valued at $82,000 after buying an additional 656 shares during the period. Finally, Bank of Stockton lifted its stake in Cenovus Energy by 5.0% in the fourth quarter. Bank of Stockton now owns 15,246 shares of the oil and gas company’s stock valued at $258,000 after buying an additional 725 shares during the period. 51.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CVE shares. Scotiabank reaffirmed an “outperform” rating on shares of Cenovus Energy in a research report on Thursday, May 7th. Raymond James Financial lowered Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, May 6th. TD Securities reaffirmed a “buy” rating on shares of Cenovus Energy in a research report on Friday, February 20th. Weiss Ratings raised Cenovus Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 1st. Finally, Wall Street Zen raised Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $35.25.

Cenovus Energy Price Performance

Shares of NYSE:CVE opened at $28.25 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.57 and a debt-to-equity ratio of 0.33. Cenovus Energy Inc has a twelve month low of $13.29 and a twelve month high of $32.07. The stock’s 50 day moving average is $27.87 and its 200-day moving average is $22.54. The firm has a market capitalization of $52.82 billion, a price-to-earnings ratio of 15.52 and a beta of 0.34.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.05. Cenovus Energy had a return on equity of 15.29% and a net margin of 9.53%.The business had revenue of $10.79 billion during the quarter, compared to the consensus estimate of $9.47 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. Cenovus Energy’s revenue was up 1.0% compared to the same quarter last year. Sell-side analysts forecast that Cenovus Energy Inc will post 3.15 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.1%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 15th. Cenovus Energy’s dividend payout ratio is currently 32.42%.

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.