59,026 Shares in Cenovus Energy Inc $CVE Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC acquired a new stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) in the 2nd quarter, Holdings Channel reports. The firm acquired 59,026 shares of the oil and gas company’s stock, valued at approximately $1,464,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors boosted its position in Cenovus Energy by 16.6% during the fourth 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 purchasing an additional 17,730,542 shares in the last quarter. GQG Partners LLC purchased a new position in shares of Cenovus Energy in the second quarter valued at $411,552,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Cenovus Energy during the 2nd quarter worth $355,752,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Cenovus Energy by 440.8% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 15,414,179 shares of the oil and gas company’s stock worth $260,797,000 after buying an additional 12,564,179 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of 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 worth $604,107,000 after buying an additional 11,990,405 shares in the last quarter. 51.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on CVE. Morgan Stanley reissued an “overweight” rating on shares of Cenovus Energy in a research note on Wednesday, August 19th. Lake Street Capital set a $36.00 price target on shares of Cenovus Energy in a report on Wednesday, May 13th. Wall Street Zen upgraded shares of Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Zacks Research cut shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Cenovus Energy in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Cenovus Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.25.

Cenovus Energy Stock Up 2.3%

CVE opened at $31.48 on Thursday. The firm has a market cap of $58.22 billion, a P/E ratio of 12.11 and a beta of 0.34. The business’s fifty day simple moving average is $28.14 and its 200 day simple moving average is $26.75. Cenovus Energy Inc has a 52 week low of $15.63 and a 52 week high of $33.40. 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 earnings results on Wednesday, July 29th. The oil and gas company reported $1.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.11. Cenovus Energy had a net margin of 12.37% and a return on equity of 21.08%. The company had revenue of $14.59 billion for the quarter, compared to analyst estimates of $11.87 billion. During the same period in the prior year, the firm earned $0.45 EPS. The firm’s quarterly revenue was up 47.9% on a year-over-year basis. As a group, equities research analysts anticipate that Cenovus Energy Inc will post 3.2 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. 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.