LVW Advisors LLC Takes Position in Cenovus Energy Inc. (NYSE:CVE)

LVW Advisors LLC purchased a new stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,019 shares of the oil and gas company’s stock, valued at approximately $240,000.

Other large investors have also made changes to their positions in the company. Panview Asian Equity Master Fund grew its position in Cenovus Energy by 63.5% during the fourth quarter. Panview Asian Equity Master Fund now owns 515,000 shares of the oil and gas company’s stock valued at $8,575,000 after purchasing an additional 200,000 shares in the last quarter. BNP Paribas Financial Markets grew its position in Cenovus Energy by 152.1% in the fourth quarter. BNP Paribas Financial Markets now owns 321,802 shares of the oil and gas company’s stock worth $5,358,000 after acquiring an additional 194,151 shares in the last quarter. Mackenzie Financial Corp grew its position in Cenovus Energy by 4.4% in the fourth quarter. Mackenzie Financial Corp now owns 11,053,328 shares of the oil and gas company’s stock worth $184,278,000 after acquiring an additional 462,273 shares in the last quarter. TD Asset Management Inc grew its position in Cenovus Energy by 26.5% in the fourth quarter. TD Asset Management Inc now owns 42,191,779 shares of the oil and gas company’s stock worth $706,503,000 after acquiring an additional 8,841,374 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in Cenovus Energy by 39.9% in the first quarter. International Assets Investment Management LLC now owns 35,767 shares of the oil and gas company’s stock worth $719,000 after acquiring an additional 10,200 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Trading Down 0.1 %

Shares of CVE stock opened at $19.66 on Monday. Cenovus Energy Inc. has a 52-week low of $14.69 and a 52-week high of $21.90. The stock has a market cap of $36.56 billion, a price-to-earnings ratio of 10.92 and a beta of 2.07. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.70. The firm has a fifty day moving average of $19.98 and a 200-day moving average of $18.48.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. Cenovus Energy had a net margin of 8.73% and a return on equity of 16.53%. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.98 billion. On average, equities research analysts forecast that Cenovus Energy Inc. will post 2.04 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were issued a $0.0981 dividend. This represents a $1.18 annualized dividend and a dividend yield of 5.99%. The ex-dividend date was Thursday, May 16th. Cenovus Energy’s payout ratio is 28.89%.

Analyst Upgrades and Downgrades

CVE has been the subject of a number of analyst reports. Raymond James upgraded shares of Cenovus Energy to a “moderate buy” rating in a research note on Tuesday, May 28th. StockNews.com cut shares of Cenovus Energy from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, Morgan Stanley upped their target price on shares of Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cenovus Energy has a consensus rating of “Buy” and a consensus price target of $29.00.

Cenovus Energy Company Profile

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.