Wealth Science Advisors LLC Invests $372,000 in Cenovus Energy Inc $CVE

Wealth Science Advisors LLC purchased a new position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the fourth quarter, HoldingsChannel reports. The fund purchased 21,962 shares of the oil and gas company’s stock, valued at approximately $372,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVE. Capital Research Global Investors boosted its position in shares of Cenovus Energy by 291.3% during the third quarter. Capital Research Global Investors now owns 106,582,971 shares of the oil and gas company’s stock worth $1,809,758,000 after purchasing an additional 79,345,506 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Cenovus Energy by 322.7% during the second quarter. Canada Pension Plan Investment Board now owns 15,521,050 shares of the oil and gas company’s stock worth $211,338,000 after purchasing an additional 11,849,355 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Cenovus Energy by 46.7% during the third quarter. Mackenzie Financial Corp now owns 30,643,806 shares of the oil and gas company’s stock worth $520,196,000 after purchasing an additional 9,753,134 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Cenovus Energy by 494.2% during the third quarter. CIBC Asset Management Inc now owns 11,442,043 shares of the oil and gas company’s stock worth $194,493,000 after purchasing an additional 9,516,460 shares in the last quarter. Finally, Canoe Financial LP bought a new position in shares of Cenovus Energy during the fourth quarter worth $102,662,000. 51.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CVE shares. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Cenovus Energy in a research report on Tuesday, January 20th. Scotiabank raised shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Wall Street Zen raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. TD Securities reaffirmed a “buy” rating on shares of Cenovus Energy in a research report on Friday, February 20th. Finally, Royal Bank Of Canada boosted their price objective on shares of Cenovus Energy from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Four research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $29.67.

Cenovus Energy Stock Up 2.0%

Shares of CVE stock opened at $26.43 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.04 and a debt-to-equity ratio of 0.35. Cenovus Energy Inc has a 1 year low of $11.60 and a 1 year high of $27.65. The firm’s fifty day moving average price is $24.37 and its two-hundred day moving average price is $20.10. The firm has a market capitalization of $49.56 billion, a P/E ratio of 17.28 and a beta of 0.34.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued 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 firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $10.89 billion. During the same period in the previous year, the business earned $0.07 EPS. On average, equities analysts predict that Cenovus Energy Inc will post 2.28 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, March 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.0%. Cenovus Energy’s payout ratio is currently 38.56%.

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.