Cenovus Energy Inc $CVE Shares Acquired by Picton Mahoney Asset Management

Picton Mahoney Asset Management raised its holdings in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 15.6% in the third quarter, Holdings Channel.com reports. The firm owned 6,389,703 shares of the oil and gas company’s stock after buying an additional 863,647 shares during the period. Cenovus Energy comprises 1.0% of Picton Mahoney Asset Management’s portfolio, making the stock its 17th largest holding. Picton Mahoney Asset Management’s holdings in Cenovus Energy were worth $108,472,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Atlantic Union Bankshares Corp acquired a new stake in shares of Cenovus Energy during the second quarter worth approximately $27,000. Allworth Financial LP boosted its stake in Cenovus Energy by 104.3% during the 2nd quarter. Allworth Financial LP now owns 2,288 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 1,168 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Cenovus Energy by 74.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company’s stock worth $44,000 after acquiring an additional 1,384 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Cenovus Energy by 57.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,912 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Cenovus Energy in the 2nd quarter valued at about $78,000. 51.19% of the stock is owned by institutional investors and hedge funds.

Cenovus Energy Price Performance

Shares of NYSE CVE opened at $22.36 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.04. The firm has a market capitalization of $42.04 billion, a PE ratio of 14.61 and a beta of 0.43. Cenovus Energy Inc has a 1-year low of $10.23 and a 1-year high of $23.56. The business’s fifty day moving average price is $19.42 and its two-hundred day moving average price is $17.96.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.08. Cenovus Energy had a net margin of 7.92% and a return on equity of 13.25%. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $10.89 billion. During the same quarter in the previous year, the company posted $0.07 earnings per share. On average, research analysts expect that Cenovus Energy Inc will post 1.49 EPS for the current year.

Cenovus Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a $0.20 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.80 annualized dividend and a yield of 3.6%. Cenovus Energy’s dividend payout ratio is 37.25%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. BMO Capital Markets reissued an “outperform” rating on shares of Cenovus Energy in a report on Friday, February 20th. TD Securities reissued a “buy” rating on shares of Cenovus Energy in a research report on Friday, February 20th. Wall Street Zen downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Monday, February 23rd. Royal Bank Of Canada boosted their target price on shares of Cenovus Energy from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $22.00 price target on shares of Cenovus Energy in a research report on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Cenovus Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.33.

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.