Vestmark Advisory Solutions Inc. Makes New Investment in Cenovus Energy Inc $CVE

Vestmark Advisory Solutions Inc. acquired a new position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 82,752 shares of the oil and gas company’s stock, valued at approximately $1,125,000.

Other institutional investors also recently modified their holdings of the company. Mackenzie Financial Corp grew its position in Cenovus Energy by 56.5% during the 1st quarter. Mackenzie Financial Corp now owns 19,481,233 shares of the oil and gas company’s stock worth $270,742,000 after acquiring an additional 7,035,004 shares during the last quarter. Vanguard Group Inc. raised its position in Cenovus Energy by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 54,483,601 shares of the oil and gas company’s stock valued at $757,213,000 after purchasing an additional 4,401,045 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Cenovus Energy by 33.6% in the first quarter. Dimensional Fund Advisors LP now owns 17,363,386 shares of the oil and gas company’s stock worth $241,513,000 after purchasing an additional 4,362,384 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Cenovus Energy by 2,719.3% during the first quarter. Acadian Asset Management LLC now owns 4,141,434 shares of the oil and gas company’s stock worth $57,533,000 after purchasing an additional 3,994,539 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Cenovus Energy by 40.2% in the first quarter. Invesco Ltd. now owns 11,281,543 shares of the oil and gas company’s stock valued at $156,926,000 after buying an additional 3,237,659 shares in the last quarter. Institutional investors own 51.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Zacks Research upgraded shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Wall Street Zen raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group reiterated a “buy” rating on shares of Cenovus Energy in a research report on Monday, August 25th. Jefferies Financial Group reissued a “buy” rating on shares of Cenovus Energy in a report on Tuesday, September 2nd. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Cenovus Energy in a research report on Monday. Four analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $21.00.

Cenovus Energy Stock Up 2.4%

Shares of NYSE:CVE opened at $17.86 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 0.78. The stock has a market cap of $31.55 billion, a price-to-earnings ratio of 17.68 and a beta of 0.86. The company has a 50 day moving average of $17.07 and a 200-day moving average of $15.19. Cenovus Energy Inc has a one year low of $10.23 and a one year high of $18.60.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.12. Cenovus Energy had a net margin of 5.18% and a return on equity of 9.06%. The business had revenue of $10.87 billion for the quarter, compared to analyst estimates of $12.51 billion. During the same period in the prior year, the business posted $0.42 earnings per share. Cenovus Energy’s revenue was down 7.0% compared to the same quarter last year. On average, sell-side analysts forecast that Cenovus Energy Inc will post 1.49 earnings per share for the current year.

Cenovus Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Monday, December 15th. Cenovus Energy’s dividend payout ratio (DPR) is currently 45.90%.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.