Cenovus Energy Inc. (NYSE:CVE) Stake Boosted by Assetmark Inc.

Assetmark Inc. increased its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 12.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 135,362 shares of the oil and gas company’s stock after purchasing an additional 14,814 shares during the quarter. Assetmark Inc.’s holdings in Cenovus Energy were worth $2,265,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Washington Trust Bank acquired a new stake in Cenovus Energy in the third quarter worth $214,000. Olympiad Research LP acquired a new position in Cenovus Energy during the 3rd quarter worth $380,000. Intact Investment Management Inc. grew its stake in shares of Cenovus Energy by 8.4% in the third quarter. Intact Investment Management Inc. now owns 2,386,398 shares of the oil and gas company’s stock worth $39,916,000 after purchasing an additional 185,507 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Cenovus Energy by 5.9% during the third quarter. Van ECK Associates Corp now owns 776,070 shares of the oil and gas company’s stock valued at $12,960,000 after purchasing an additional 43,023 shares during the period. Finally, Lodestone Wealth Management LLC raised its stake in shares of Cenovus Energy by 38.6% during the third quarter. Lodestone Wealth Management LLC now owns 80,886 shares of the oil and gas company’s stock valued at $1,353,000 after purchasing an additional 22,544 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CVE. TD Securities lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. StockNews.com downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, BMO Capital Markets lowered their price target on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Cenovus Energy presently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Cenovus Energy Trading Down 1.0 %

Shares of Cenovus Energy stock opened at $15.59 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The firm has a market cap of $28.52 billion, a price-to-earnings ratio of 10.75 and a beta of 2.05. The business has a fifty day simple moving average of $16.80 and a 200-day simple moving average of $18.58. Cenovus Energy Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.08. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $10.25 billion. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The company’s revenue was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. On average, equities analysts forecast that Cenovus Energy Inc. will post 1.5 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.133 per share. This represents a $0.53 annualized dividend and a dividend yield of 3.41%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, December 13th. Cenovus Energy’s dividend payout ratio is currently 36.55%.

Cenovus Energy Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.