Osmosis Investment Management UK Ltd Purchases New Holdings in Cenovus Energy Inc $CVE

Osmosis Investment Management UK Ltd acquired a new position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 27,887 shares of the oil and gas company’s stock, valued at approximately $692,000.

Other institutional investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new position in shares of Cenovus Energy during the second quarter valued at approximately $1,464,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Cenovus Energy in the second quarter worth approximately $355,752,000. Bank of Nova Scotia purchased a new stake in shares of Cenovus Energy in the second quarter worth approximately $156,763,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Cenovus Energy during the 2nd quarter worth approximately $740,000. Finally, GQG Partners LLC bought a new stake in shares of Cenovus Energy during the 2nd quarter worth approximately $411,552,000. Institutional investors own 51.19% of the company’s stock.

Analyst Ratings Changes

CVE has been the topic of several research analyst reports. Wall Street Zen raised Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Lake Street Capital set a $36.00 target price on Cenovus Energy in a research report on Wednesday, May 13th. Morgan Stanley reissued an “overweight” rating on shares of Cenovus Energy in a research note on Wednesday, August 19th. Scotiabank restated an “outperform” rating on shares of Cenovus Energy in a report on Thursday, July 30th. Finally, Raymond James Financial downgraded shares of Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, May 6th. 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.25.

Cenovus Energy Stock Down 4.2%

Shares of NYSE:CVE opened at $30.83 on Wednesday. Cenovus Energy Inc has a 52-week low of $15.63 and a 52-week high of $33.40. The stock has a market cap of $57.02 billion, a P/E ratio of 11.86 and a beta of 0.34. The business’s 50 day moving average is $28.02 and its 200 day moving average is $26.67. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.25.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $1.11 EPS for the quarter, hitting the consensus estimate of $1.11. The company had revenue of $14.59 billion for the quarter, compared to the consensus estimate of $11.87 billion. Cenovus Energy had a return on equity of 21.08% and a net margin of 12.37%.Cenovus Energy’s quarterly revenue was up 47.9% on a year-over-year basis. During the same period last year, the business posted $0.45 EPS. Sell-side analysts predict 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. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.88 annualized dividend and a dividend yield of 2.9%. Cenovus Energy’s dividend payout ratio (DPR) is currently 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.