74,800 Shares in Cenovus Energy Inc $CVE Purchased by Caldwell Investment Management Ltd.

Caldwell Investment Management Ltd. 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 (SEC). The firm bought 74,800 shares of the oil and gas company’s stock, valued at approximately $1,852,000. Cenovus Energy makes up about 1.2% of Caldwell Investment Management Ltd.’s investment portfolio, making the stock its 10th largest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVE. Gables Capital Management Inc. bought a new position in Cenovus Energy in the 2nd quarter valued at approximately $35,000. Transamerica Financial Advisors LLC increased its holdings in shares of 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 worth $26,000 after purchasing an additional 1,433 shares in the last quarter. NBC Securities Inc. increased its holdings in shares of 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 worth $28,000 after purchasing an additional 1,500 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Cenovus Energy in the fourth quarter worth $38,000. Finally, Allworth Financial LP purchased a new position in shares of Cenovus Energy in the second quarter worth $68,000. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Performance

NYSE:CVE opened at $32.99 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.04 and a current ratio of 1.63. The stock has a 50-day simple moving average of $27.83 and a two-hundred day simple moving average of $26.46. The firm has a market capitalization of $61.01 billion, a PE ratio of 12.69 and a beta of 0.34. Cenovus Energy Inc has a 52-week low of $15.44 and a 52-week high of $33.40.

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

Cenovus Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. Cenovus Energy’s dividend payout ratio is presently 24.62%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Raymond James Financial cut shares of Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, May 6th. Zacks Research cut shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Weiss Ratings upgraded shares of Cenovus Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Morgan Stanley restated an “overweight” rating on shares of Cenovus Energy in a report on Wednesday. Finally, Wall Street Zen raised shares of Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. One 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.25.

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.