28,804 Shares in Cenovus Energy Inc $CVE Acquired by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC bought a new position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 28,804 shares of the oil and gas company’s stock, valued at approximately $715,000.

Several other institutional investors have also recently added to or reduced their stakes in CVE. Jones Financial Companies Lllp grew its position 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 buying an additional 18,405 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 valued at $10,397,000 after acquiring an additional 44,125 shares during the period. Prudential Financial Inc. acquired a new position in shares of Cenovus Energy during the 2nd quarter valued at $525,000. EverSource Wealth Advisors LLC boosted its stake in Cenovus Energy by 57.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,912 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Cenovus Energy during the second quarter worth $495,000. 51.19% of the stock is owned by institutional investors and hedge funds.

Cenovus Energy Stock Performance

NYSE CVE opened at $31.60 on Monday. The company has a market cap of $58.44 billion, a P/E ratio of 12.15 and a beta of 0.34. The company has a fifty day simple moving average of $28.40 and a 200 day simple moving average of $26.91. The company has a current ratio of 1.63, a quick ratio of 1.04 and a debt-to-equity ratio of 0.25. Cenovus Energy Inc has a 12-month low of $15.63 and a 12-month high of $33.40.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $1.11 earnings per share for the quarter, hitting the consensus estimate of $1.11. The firm 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 business’s revenue was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.45 earnings per share. Sell-side analysts predict that Cenovus Energy Inc will post 3.2 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Cenovus Energy’s payout ratio is presently 24.62%.

Analyst Upgrades and Downgrades

CVE has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price target on shares of Cenovus Energy from $47.00 to $51.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Raymond James Financial cut shares of Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, May 6th. Scotiabank restated an “outperform” rating on shares of Cenovus Energy in a research note on Thursday, July 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of Cenovus Energy in a research report on Wednesday, August 19th. Finally, Lake Street Capital set a $36.00 price target on Cenovus Energy in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.