43,244 Shares in Cenovus Energy Inc $CVE Purchased by Keybank National Association OH

Keybank National Association OH acquired a new position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 43,244 shares of the oil and gas company’s stock, valued at approximately $1,147,000.

Several other institutional investors have also added to or reduced their stakes in the company. Financial Management Professionals Inc. purchased a new stake in shares of Cenovus Energy in the fourth quarter worth approximately $25,000. Transamerica Financial Advisors LLC grew its position in Cenovus Energy by 1,302.7% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 1,433 shares during the last quarter. NBC Securities Inc. grew its position in Cenovus Energy by 961.5% in the 4th quarter. NBC Securities Inc. now owns 1,656 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 1,500 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Cenovus Energy in the fourth quarter worth $38,000. Finally, Geneos Wealth Management Inc. increased its stake in Cenovus Energy by 74.1% in the second quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 1,384 shares during the period. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Up 3.6%

NYSE:CVE opened at $25.23 on Wednesday. Cenovus Energy Inc has a 1-year low of $13.90 and a 1-year high of $32.07. The company has a 50-day moving average of $27.80 and a 200 day moving average of $23.82. The firm has a market cap of $46.95 billion, a PE ratio of 13.87 and a beta of 0.34. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.57 and a quick ratio of 1.00.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results 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 net margin of 9.53% and a return on equity of 15.29%. The business had revenue of $10.79 billion for the quarter, compared to the consensus estimate of $9.47 billion. During the same quarter last year, the firm posted $0.47 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, research analysts anticipate that Cenovus Energy Inc will post 3.02 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, June 15th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 3.5%. Cenovus Energy’s dividend payout ratio is 35.16%.

Wall Street Analysts Forecast Growth

CVE has been the subject of a number of recent analyst reports. Raymond James Financial lowered shares of Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, May 6th. Zacks Research lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Lake Street Capital set a $36.00 price objective on shares of Cenovus Energy in a research report on Wednesday, May 13th. The Goldman Sachs Group restated a “buy” rating on shares of Cenovus Energy in a research note on Wednesday, May 13th. Finally, Royal Bank Of Canada lifted their price target on shares of Cenovus Energy from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Cenovus Energy has a consensus rating of “Moderate Buy” and an average target price of $35.25.

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.