Core Capital Management & Research inc. Buys Shares of 20,000 Cenovus Energy Inc $CVE

Core Capital Management & Research inc. purchased a new stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 20,000 shares of the oil and gas company’s stock, valued at approximately $496,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Capital Research Global Investors lifted its holdings in shares of Cenovus Energy by 16.6% in the 4th quarter. Capital Research Global Investors now owns 124,313,513 shares of the oil and gas company’s stock worth $2,103,090,000 after acquiring an additional 17,730,542 shares during the last quarter. Capital International Investors increased its holdings in Cenovus Energy by 3.9% in the 4th quarter. Capital International Investors now owns 50,979,140 shares of the oil and gas company’s stock valued at $862,505,000 after purchasing an additional 1,903,432 shares during the last quarter. FIL Ltd increased its holdings in Cenovus Energy by 40.0% in the 4th quarter. FIL Ltd now owns 38,533,059 shares of the oil and gas company’s stock valued at $651,880,000 after purchasing an additional 11,019,212 shares during the last quarter. Bank of America Corp DE increased its holdings in Cenovus Energy by 111.2% in the 1st quarter. Bank of America Corp DE now owns 22,770,723 shares of the oil and gas company’s stock valued at $604,107,000 after purchasing an additional 11,990,405 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Cenovus Energy by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 18,018,995 shares of the oil and gas company’s stock valued at $304,894,000 after purchasing an additional 855,618 shares during the period. 51.19% of the stock is owned by hedge funds and other institutional investors.

Cenovus Energy Stock Performance

Shares of CVE stock opened at $33.44 on Thursday. 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 Inc has a 52 week low of $15.63 and a 52 week high of $33.87. The stock has a market capitalization of $61.62 billion, a PE ratio of 12.86 and a beta of 0.35. The firm has a 50 day moving average of $29.65 and a two-hundred day moving average of $27.52.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $1.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.11. The business had revenue of $14.59 billion for the quarter, compared to analyst estimates of $11.87 billion. Cenovus Energy had a return on equity of 21.08% and a net margin of 12.37%.The company’s revenue was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 earnings per share. On average, research analysts predict that Cenovus Energy Inc will post 3.2 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Cenovus Energy’s payout ratio is presently 24.62%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CVE shares. Morgan Stanley restated an “overweight” rating on shares of Cenovus Energy in a research note on Wednesday, August 19th. UBS Group cut Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. Weiss Ratings upgraded Cenovus Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Royal Bank Of Canada increased their target price on Cenovus Energy from $47.00 to $51.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Finally, Zacks Research cut Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cenovus Energy currently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

About Cenovus Energy

Cenovus Energy Inc is an integrated Canadian energy company headquartered in Calgary, Alberta. The company explores for, develops, produces and markets crude oil, natural gas and natural gas liquids, with a significant focus on oil sands projects in Alberta. Its upstream operations include oil sands mining and in situ production, conventional oil and natural gas assets, and offshore production interests in the Atlantic region.

Cenovus also operates downstream businesses that upgrade, refine and market petroleum products.