64,144 Shares in Cenovus Energy Inc $CVE Acquired by Ieq Capital LLC

Ieq Capital LLC bought a new stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the second quarter, Holdings Channel.com reports. The fund bought 64,144 shares of the oil and gas company’s stock, valued at approximately $1,591,000.

Other hedge funds have also bought and sold shares of the company. TD Asset Management Inc lifted its holdings in shares of Cenovus Energy by 3.6% during the 4th quarter. TD Asset Management Inc now owns 16,995,459 shares of the oil and gas company’s stock worth $287,897,000 after acquiring an additional 595,518 shares during the last quarter. Alberta Investment Management Corp bought a new position in Cenovus Energy in the second quarter valued at $143,730,000. Beverly Hills Private Wealth LLC bought a new position in Cenovus Energy in the second quarter valued at $2,678,000. Amundi raised its position in Cenovus Energy by 1.4% during the first quarter. Amundi now owns 5,366,196 shares of the oil and gas company’s stock valued at $142,365,000 after purchasing an additional 71,891 shares in the last quarter. Finally, Militia Capital Management LLC purchased a new stake in Cenovus Energy during the first quarter valued at about $1,740,000. 51.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Desjardins upgraded Cenovus Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Morgan Stanley reaffirmed an “overweight” rating on shares of Cenovus Energy in a research note on Wednesday, August 19th. The Goldman Sachs Group reiterated a “buy” rating on shares of Cenovus Energy in a research report on Wednesday, May 13th. Royal Bank Of Canada lifted their price target on shares of Cenovus Energy from $47.00 to $51.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings raised shares of Cenovus Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.25.

Cenovus Energy Price Performance

Shares of Cenovus Energy stock opened at $30.83 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.04. The business’s 50 day simple moving average is $28.02 and its two-hundred day simple moving average is $26.67. The stock has a market capitalization of $57.02 billion, a P/E ratio of 11.86 and a beta of 0.34. Cenovus Energy Inc has a one year low of $15.63 and a one year 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, meeting analysts’ consensus estimates of $1.11. Cenovus Energy had a return on equity of 21.08% and a net margin of 12.37%.The firm had revenue of $14.59 billion during the quarter, compared to analyst estimates of $11.87 billion. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The business’s quarterly revenue was up 47.9% compared to the same quarter last year. Analysts forecast that Cenovus Energy Inc will post 3.2 EPS for the current year.

Cenovus Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.88 annualized dividend and a yield of 2.9%. Cenovus Energy’s dividend payout ratio is presently 24.62%.

Cenovus Energy Company Profile

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.