Vise Technologies Inc. Acquires Shares of 53,543 Cenovus Energy Inc $CVE

Vise Technologies Inc. acquired a new stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 53,543 shares of the oil and gas company’s stock, valued at approximately $1,328,000.

Several other large investors also recently modified their holdings of CVE. J.W. Cole Advisors Inc. lifted its stake in shares of Cenovus Energy by 3.9% during the 4th quarter. J.W. Cole Advisors Inc. now owns 13,407 shares of the oil and gas company’s stock worth $227,000 after buying an additional 500 shares during the last quarter. Gateway Investment Advisers LLC grew its stake in Cenovus Energy by 0.6% in the 4th 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 last quarter. International Assets Investment Management LLC raised its holdings in Cenovus Energy by 0.9% in the 4th 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 acquiring an additional 565 shares during the period. OLD National Bancorp IN raised its holdings in Cenovus Energy by 5.2% in the 1st quarter. OLD National Bancorp IN now owns 12,597 shares of the oil and gas company’s stock valued at $334,000 after acquiring an additional 618 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in Cenovus Energy by 24.4% in the 4th quarter. Farther Finance Advisors LLC now owns 3,307 shares of the oil and gas company’s stock valued at $56,000 after acquiring an additional 649 shares during the period. 51.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CVE. Weiss Ratings upgraded shares of Cenovus Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Lake Street Capital set a $36.00 target price on Cenovus Energy in a research note on Wednesday, May 13th. The Goldman Sachs Group reiterated a “buy” rating on shares of Cenovus Energy in a research note on Wednesday, May 13th. Desjardins raised Cenovus Energy to a “moderate buy” rating in a report on Thursday, July 16th. Finally, Zacks Research downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.25.

Cenovus Energy Price Performance

Cenovus Energy stock opened at $32.99 on Friday. The firm has a market cap of $61.01 billion, a PE ratio of 12.69 and a beta of 0.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.04. The stock’s fifty day moving average price is $27.83 and its two-hundred day moving average price is $26.46. Cenovus Energy Inc has a one year low of $15.44 and a one year high of $33.40.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its earnings results on Wednesday, July 29th. The oil and gas company reported $1.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.11. The firm had revenue of $14.59 billion during 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 revenue was up 47.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 EPS. As a group, research analysts expect that Cenovus Energy Inc will post 3.2 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.22 dividend. 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 24.62%.

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.