Capstone Investment Advisors LLC Has $323,000 Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

Capstone Investment Advisors LLC raised its stake in Cenovus Energy Inc. (NYSE:CVEFree Report) (TSE:CVE) by 35.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 19,415 shares of the oil and gas company’s stock after buying an additional 5,122 shares during the period. Capstone Investment Advisors LLC’s holdings in Cenovus Energy were worth $323,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVE. Financial Perspectives Inc acquired a new stake in shares of Cenovus Energy during the 4th quarter valued at $28,000. Headlands Technologies LLC acquired a new stake in shares of Cenovus Energy during the fourth quarter valued at about $33,000. NBC Securities Inc. bought a new stake in shares of Cenovus Energy during the third quarter worth about $34,000. Spire Wealth Management increased its stake in shares of Cenovus Energy by 41.9% in the fourth quarter. Spire Wealth Management now owns 2,305 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 681 shares during the period. Finally, GHP Investment Advisors Inc. bought a new position in Cenovus Energy in the 4th quarter valued at approximately $43,000. Institutional investors own 51.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CVE. UBS Group upgraded shares of Cenovus Energy from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. Raymond James upgraded Cenovus Energy to a “moderate buy” rating in a report on Tuesday, May 28th. Morgan Stanley lifted their target price on Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, StockNews.com upgraded Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 3rd. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $26.67.

View Our Latest Stock Report on CVE

Cenovus Energy Trading Up 1.1 %

NYSE:CVE opened at $20.82 on Friday. Cenovus Energy Inc. has a 52 week low of $14.69 and a 52 week high of $21.90. The firm’s fifty day moving average is $20.64 and its 200-day moving average is $18.22. The firm has a market cap of $38.67 billion, a P/E ratio of 11.57 and a beta of 2.10. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.70.

Cenovus Energy (NYSE:CVEGet Free Report) (TSE:CVE) last issued its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.98 billion. Cenovus Energy had a return on equity of 16.53% and a net margin of 8.73%. Equities analysts expect that Cenovus Energy Inc. will post 2.05 earnings per share for the current year.

Cenovus Energy Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were issued a $0.0981 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.18 dividend on an annualized basis and a yield of 5.65%. Cenovus Energy’s payout ratio is currently 21.67%.

About Cenovus Energy

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

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