First Trust Advisors LP Has $11.53 Million Stock Holdings in Cenovus Energy Inc $CVE

First Trust Advisors LP increased its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 77.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 434,746 shares of the oil and gas company’s stock after purchasing an additional 189,371 shares during the quarter. First Trust Advisors LP’s holdings in Cenovus Energy were worth $11,532,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVE. Financial Management Professionals Inc. acquired a new stake in shares of Cenovus Energy during the 4th quarter worth approximately $25,000. 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 buying an additional 1,433 shares during the period. NBC Securities Inc. boosted its stake 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 valued at $28,000 after acquiring an additional 1,500 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Cenovus Energy in the fourth quarter valued at approximately $38,000. Finally, Geneos Wealth Management Inc. grew its holdings in Cenovus Energy by 74.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company’s stock worth $44,000 after acquiring an additional 1,384 shares during the period. 51.19% of the stock is owned by institutional investors.

Cenovus Energy Trading Down 0.6%

Shares of NYSE CVE opened at $30.14 on Friday. Cenovus Energy Inc has a twelve month low of $14.48 and a twelve month high of $32.07. The stock has a market cap of $56.07 billion, a price-to-earnings ratio of 11.59 and a beta of 0.34. The company has a quick ratio of 1.00, a current ratio of 1.63 and a debt-to-equity ratio of 0.25. The company’s fifty day moving average is $27.28 and its 200-day moving average is $25.22.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $1.11 EPS for the quarter, hitting the consensus estimate of $1.11. The business 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 firm’s revenue was up 47.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 EPS. Equities research analysts predict that Cenovus Energy Inc will post 3.02 EPS for the current year.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.9%. Cenovus Energy’s dividend payout ratio (DPR) is currently 24.62%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen cut shares of Cenovus Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Cenovus Energy in a research note on Wednesday, May 13th. Weiss Ratings downgraded Cenovus Energy from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. Royal Bank Of Canada increased their target price on Cenovus Energy from $47.00 to $51.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, UBS Group restated a “buy” rating on shares of Cenovus Energy in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently 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.