Cenovus Energy Inc $CVE Shares Bought by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. lifted its stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 105.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,145,115 shares of the oil and gas company’s stock after buying an additional 586,515 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Cenovus Energy were worth $19,407,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Rothschild Investment LLC purchased a new stake in shares of Cenovus Energy during the 4th quarter worth approximately $245,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Cenovus Energy by 3,341.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 588,486 shares of the oil and gas company’s stock worth $9,957,000 after buying an additional 571,386 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of Cenovus Energy by 16.2% during the 4th quarter. Intech Investment Management LLC now owns 150,545 shares of the oil and gas company’s stock worth $2,550,000 after buying an additional 20,994 shares during the last quarter. Arista Wealth Management LLC purchased a new stake in shares of Cenovus Energy during the 4th quarter worth approximately $254,000. Finally, Geode Capital Management LLC lifted its position in shares of Cenovus Energy by 10.9% during the 4th quarter. Geode Capital Management LLC now owns 13,274,142 shares of the oil and gas company’s stock worth $226,307,000 after buying an additional 1,305,123 shares during the last quarter. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CVE shares. Weiss Ratings upgraded shares of Cenovus Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 8th. Lake Street Capital set a $36.00 price objective on shares of Cenovus Energy in a research report on Wednesday, May 13th. BMO Capital Markets restated an “outperform” rating on shares of Cenovus Energy in a research report on Friday, February 20th. UBS Group restated a “buy” rating on shares of Cenovus Energy in a research report on Thursday, April 9th. Finally, TD Securities restated a “buy” rating on shares of Cenovus Energy in a research report on Friday, February 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $35.25.

Cenovus Energy Stock Down 1.7%

Shares of Cenovus Energy stock opened at $27.57 on Friday. The company has a market cap of $51.69 billion, a P/E ratio of 15.15 and a beta of 0.37. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.57. Cenovus Energy Inc has a one year low of $12.88 and a one year high of $32.07. The firm has a fifty day moving average of $27.50 and a two-hundred day moving average of $22.15.

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

Cenovus Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, June 15th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.20. Cenovus Energy’s payout ratio 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.