39,475 Shares in Cenovus Energy Inc $CVE Purchased by MQS Management LLC

MQS Management LLC acquired a new position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 39,475 shares of the oil and gas company’s stock, valued at approximately $668,000.

Several other institutional investors and hedge funds have also made changes to their positions in CVE. Jones Financial Companies Lllp boosted its holdings in shares of Cenovus Energy by 574.8% during the 1st quarter. Jones Financial Companies Lllp now owns 21,607 shares of the oil and gas company’s stock worth $301,000 after purchasing an additional 18,405 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Cenovus Energy by 6.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 747,472 shares of the oil and gas company’s stock worth $10,397,000 after purchasing an additional 44,125 shares during the last quarter. Prudential Financial Inc. acquired a new position in shares of Cenovus Energy during the 2nd quarter worth approximately $525,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Cenovus Energy by 57.8% during 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, Marshall Wace LLP acquired a new position in shares of Cenovus Energy during the 2nd quarter worth approximately $495,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CVE shares. Wall Street Zen upgraded Cenovus Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Scotiabank restated an “outperform” rating on shares of Cenovus Energy in a report on Thursday, May 7th. UBS Group restated a “buy” rating on shares of Cenovus Energy in a report on Thursday, April 9th. Lake Street Capital set a $36.00 target price on Cenovus Energy in a report on Wednesday, May 13th. Finally, Veritas upgraded Cenovus Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, March 10th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Cenovus Energy presently has a consensus rating of “Buy” and an average target price of $35.25.

Cenovus Energy Trading Down 0.9%

CVE opened at $30.04 on Friday. Cenovus Energy Inc has a one year low of $12.88 and a one year high of $32.07. The stock has a market capitalization of $56.31 billion, a PE ratio of 16.50 and a beta of 0.37. The business’s 50 day moving average price is $27.00 and its 200 day moving average price is $21.75. 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 (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported $0.61 EPS 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 firm had revenue of $10.79 billion for the quarter, compared to analysts’ expectations of $9.47 billion. During the same period in the prior year, the firm posted $0.47 earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts expect that Cenovus Energy Inc will post 3.01 EPS for the current year.

Cenovus Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.22 dividend. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, June 15th. Cenovus Energy’s payout ratio is currently 32.42%.

About Cenovus Energy

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.