Financial Perspectives Inc Invests $28,000 in Cenovus Energy Inc. (NYSE:CVE)

Financial Perspectives Inc bought a new position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 1,676 shares of the oil and gas company’s stock, valued at approximately $28,000.

Several other institutional investors also recently modified their holdings of the stock. NBC Securities Inc. bought a new position in shares of Cenovus Energy during the 3rd quarter valued at about $34,000. GHP Investment Advisors Inc. bought a new position in shares of Cenovus Energy during the 4th quarter valued at about $43,000. CWM LLC lifted its holdings in shares of Cenovus Energy by 19.2% during the 3rd quarter. CWM LLC now owns 3,336 shares of the oil and gas company’s stock valued at $69,000 after purchasing an additional 537 shares in the last quarter. Operose Advisors LLC bought a new position in shares of Cenovus Energy during the 3rd quarter valued at about $79,000. Finally, Y.D. More Investments Ltd bought a new position in shares of Cenovus Energy during the 3rd quarter valued at about $104,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on CVE. Morgan Stanley boosted their target price on Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. StockNews.com raised Cenovus Energy from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. UBS Group raised Cenovus Energy from a “neutral” rating to a “buy” rating in a report on Friday, February 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $28.00 target price on shares of Cenovus Energy in a report on Friday, January 26th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $26.67.

Cenovus Energy Trading Up 0.8 %

Cenovus Energy stock traded up $0.17 during trading hours on Tuesday, hitting $21.28. The stock had a trading volume of 6,515,796 shares, compared to its average volume of 11,365,327. The company has a quick ratio of 0.91, a current ratio of 1.56 and a debt-to-equity ratio of 0.25. The stock has a market cap of $39.68 billion, a price-to-earnings ratio of 13.47 and a beta of 2.15. Cenovus Energy Inc. has a one year low of $14.69 and a one year high of $21.90. The business’s 50 day simple moving average is $19.16 and its 200-day simple moving average is $18.02.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. The company had revenue of $9.65 billion during the quarter, compared to analysts’ expectations of $9.73 billion. Cenovus Energy had a return on equity of 14.85% and a net margin of 7.88%. During the same quarter in the prior year, the firm posted $0.29 earnings per share. On average, equities analysts predict that Cenovus Energy Inc. will post 1.88 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.1033 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.41 annualized dividend and a yield of 1.94%. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.10. Cenovus Energy’s dividend payout ratio (DPR) is currently 25.95%.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.