Arkadios Wealth Advisors Boosts Stock Position in Cenovus Energy Inc. (NYSE:CVE)

Arkadios Wealth Advisors raised its stake in Cenovus Energy Inc. (NYSE:CVEFree Report) (TSE:CVE) by 10.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,908 shares of the oil and gas company’s stock after purchasing an additional 1,684 shares during the quarter. Arkadios Wealth Advisors’ holdings in Cenovus Energy were worth $271,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CVE. Vanguard Personalized Indexing Management LLC grew its position in Cenovus Energy by 24.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 18,899 shares of the oil and gas company’s stock valued at $372,000 after buying an additional 3,652 shares during the last quarter. AXA S.A. boosted its holdings in shares of Cenovus Energy by 14.7% in the second quarter. AXA S.A. now owns 36,051 shares of the oil and gas company’s stock valued at $709,000 after acquiring an additional 4,623 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Cenovus Energy by 5.3% during the second quarter. Mackenzie Financial Corp now owns 11,186,227 shares of the oil and gas company’s stock worth $219,897,000 after acquiring an additional 562,663 shares during the period. Ninepoint Partners LP raised its holdings in Cenovus Energy by 19.0% during the second quarter. Ninepoint Partners LP now owns 7,500,000 shares of the oil and gas company’s stock worth $147,450,000 after purchasing an additional 1,200,000 shares in the last quarter. Finally, SkyView Investment Advisors LLC lifted its position in Cenovus Energy by 13.2% in the second quarter. SkyView Investment Advisors LLC now owns 41,510 shares of the oil and gas company’s stock valued at $816,000 after purchasing an additional 4,830 shares during the period. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Stock Up 0.2 %

CVE opened at $15.00 on Friday. Cenovus Energy Inc. has a one year low of $14.20 and a one year high of $21.90. The company has a market cap of $27.38 billion, a price-to-earnings ratio of 10.35 and a beta of 2.01. The business’s fifty day moving average is $15.26 and its two-hundred day moving average is $16.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59.

Cenovus Energy (NYSE:CVEGet Free Report) (TSE:CVE) last released its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.34 by $0.08. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $10.25 billion. During the same period in the previous year, the firm earned $0.72 EPS. The business’s revenue for the quarter was down 17.9% compared to the same quarter last year. Analysts anticipate that Cenovus Energy Inc. will post 1.4 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a dividend of $0.133 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.55%. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, December 13th. Cenovus Energy’s dividend payout ratio (DPR) is 35.17%.

Analysts Set New Price Targets

CVE has been the topic of several recent analyst reports. StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $28.00 price objective on shares of Cenovus Energy in a research report on Monday, January 6th. TD Securities downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. Finally, BMO Capital Markets lowered their price target on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Read Our Latest Stock Report on Cenovus Energy

Cenovus Energy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

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