PenderFund Capital Management Ltd. purchased a new stake in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 40,000 shares of the oil and gas company's stock, valued at approximately $992,000.

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Other institutional investors and hedge funds also recently bought and sold shares of the company. Transamerica Financial Advisors LLC increased its stake in shares of Cenovus Energy by 1,302.7% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company's stock valued at $26,000 after buying an additional 1,433 shares in the last quarter. NBC Securities Inc. lifted its position in Cenovus Energy by 961.5% during the 4th quarter. NBC Securities Inc. now owns 1,656 shares of the oil and gas company's stock worth $28,000 after buying an additional 1,500 shares in the last quarter. Gables Capital Management Inc. acquired a new position in Cenovus Energy during the 2nd quarter worth about $35,000. Kestra Advisory Services LLC bought a new stake in Cenovus Energy during the 4th quarter worth about $38,000. Finally, Geneos Wealth Management Inc. grew its holdings in Cenovus Energy by 74.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company's stock worth $44,000 after acquiring an additional 1,384 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company's stock.

Cenovus Energy Stock Performance

Shares of NYSE:CVE opened at $31.71 on Friday. The stock has a market capitalization of $58.65 billion, a P/E ratio of 12.20 and a beta of 0.34. Cenovus Energy Inc has a 1-year low of $15.63 and a 1-year high of $33.40. The company has a current ratio of 1.63, a quick ratio of 1.04 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $28.27 and a two-hundred day moving average price of $26.83.

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Cenovus Energy (NYSE:CVE - Get Free Report) 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. The company had revenue of $14.59 billion for the quarter, compared to the consensus estimate of $11.87 billion. Cenovus Energy had a net margin of 12.37% and a return on equity of 21.08%. The company's revenue was up 47.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 EPS. Equities analysts predict that Cenovus Energy Inc will post 3.2 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.8%. The ex-dividend date is Tuesday, September 15th. Cenovus Energy's dividend payout ratio is currently 24.62%.

Wall Street Analysts Forecast Growth

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A number of brokerages have weighed in on CVE. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Cenovus Energy in a research note on Thursday. 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. Raymond James Financial cut shares of Cenovus Energy from a "strong-buy" rating to an "outperform" rating in a research note on Wednesday, May 6th. Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a report on Wednesday, August 19th. Finally, Lake Street Capital set a $36.00 price objective on shares of Cenovus Energy in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $36.25.

Read Our Latest Report on Cenovus Energy

Cenovus Energy Company Profile

(Free Report)

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.

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