EFG International AG Makes New $1.04 Million Investment in Cenovus Energy Inc $CVE

EFG International AG bought a new stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 42,063 shares of the oil and gas company’s stock, valued at approximately $1,044,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Gables Capital Management Inc. bought a new position in shares of Cenovus Energy in the second quarter valued at approximately $35,000. Transamerica Financial Advisors LLC increased its holdings in Cenovus Energy by 1,302.7% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 1,433 shares during the period. NBC Securities Inc. increased its holdings in Cenovus Energy by 961.5% during the 4th quarter. NBC Securities Inc. now owns 1,656 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 1,500 shares during the period. Kestra Advisory Services LLC bought a new stake in Cenovus Energy during the 4th quarter worth approximately $38,000. Finally, Allworth Financial LP purchased a new stake in Cenovus Energy in the 2nd quarter worth approximately $68,000. 51.19% of the stock is currently owned by institutional investors.

Cenovus Energy Trading Up 2.3%

Shares of Cenovus Energy stock opened at $31.48 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.04. Cenovus Energy Inc has a 1 year low of $15.63 and a 1 year high of $33.40. The firm has a market cap of $58.22 billion, a PE ratio of 12.11 and a beta of 0.34. The company has a 50 day simple moving average of $28.14 and a two-hundred day simple moving average of $26.75.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $1.11 EPS for the quarter, hitting analysts’ consensus estimates of $1.11. The firm had revenue of $14.59 billion for the quarter, compared to analyst estimates of $11.87 billion. Cenovus Energy had a net margin of 12.37% and a return on equity of 21.08%. The business’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 EPS. Analysts expect that Cenovus Energy Inc will post 3.2 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

The company also recently disclosed 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 is Tuesday, September 15th. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. Cenovus Energy’s dividend payout ratio is 24.62%.

Analyst Upgrades and Downgrades

CVE has been the subject of several analyst reports. Royal Bank Of Canada raised their price target on shares of Cenovus Energy from $47.00 to $51.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Lake Street Capital set a $36.00 price target on shares of Cenovus Energy in a report on Wednesday, May 13th. Morgan Stanley reiterated an “overweight” rating on shares of Cenovus Energy in a research report on Wednesday, August 19th. Raymond James Financial lowered Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, May 6th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Cenovus Energy in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.25.

Cenovus Energy 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.