Louisbourg Investments Inc. Purchases 44,592 Shares of Cenovus Energy Inc $CVE

Louisbourg Investments Inc. lifted its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 24.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 225,180 shares of the oil and gas company’s stock after buying an additional 44,592 shares during the quarter. Louisbourg Investments Inc.’s holdings in Cenovus Energy were worth $5,964,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. J.W. Cole Advisors Inc. lifted its position in 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 acquiring an additional 500 shares during the last quarter. Gateway Investment Advisers LLC grew its position in shares of 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 purchasing an additional 523 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of 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 worth $1,104,000 after purchasing an additional 565 shares during the period. OLD National Bancorp IN increased its stake in shares of Cenovus Energy by 5.2% in the first quarter. OLD National Bancorp IN now owns 12,597 shares of the oil and gas company’s stock worth $334,000 after purchasing an additional 618 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of Cenovus Energy by 24.4% during the 4th quarter. Farther Finance Advisors LLC now owns 3,307 shares of the oil and gas company’s stock worth $56,000 after purchasing an additional 649 shares during the last quarter. 51.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CVE has been the subject of several recent analyst reports. Raymond James Financial downgraded Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, May 6th. Weiss Ratings lowered Cenovus Energy from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 18th. UBS Group reissued a “buy” rating on shares of Cenovus Energy in a research report on Thursday, April 9th. Royal Bank Of Canada raised their price objective on shares of Cenovus Energy from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 19th. Finally, Zacks Research lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.25.

Cenovus Energy Stock Performance

NYSE:CVE opened at $24.80 on Friday. Cenovus Energy Inc has a 12-month low of $13.47 and a 12-month high of $32.07. The company has a quick ratio of 1.00, a current ratio of 1.57 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $46.15 billion, a PE ratio of 13.63 and a beta of 0.34. The firm has a 50-day moving average price of $27.93 and a 200 day moving average price of $23.43.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Cenovus Energy had a return on equity of 15.29% and a net margin of 9.53%.The company had revenue of $10.79 billion for the quarter, compared to the consensus estimate of $9.47 billion. During the same period in the previous year, the business earned $0.47 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. Research analysts anticipate that Cenovus Energy Inc will post 3.15 earnings per share 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. Shareholders of record on Monday, June 15th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.5%. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 15th. Cenovus Energy’s dividend payout ratio (DPR) is currently 35.16%.

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.