Oppenheimer Asset Management Inc. Buys 66,987 Shares of Cenovus Energy Inc (NYSE:CVE)

Oppenheimer Asset Management Inc. raised its stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 164.8% during the 1st quarter, Holdings Channel reports. The fund owned 107,641 shares of the oil and gas company’s stock after acquiring an additional 66,987 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Cenovus Energy were worth $1,497,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in Cenovus Energy by 104.9% in the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 851 shares during the period. Bruce G. Allen Investments LLC bought a new position in Cenovus Energy in the 1st quarter valued at about $38,000. Natixis bought a new position in Cenovus Energy in the 4th quarter valued at about $98,000. Clarius Group LLC bought a new position in Cenovus Energy in the 1st quarter valued at about $150,000. Finally, Black Maple Capital Management LP bought a new position in Cenovus Energy in the 4th quarter valued at about $167,000. 51.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on CVE shares. National Bankshares reaffirmed a “sector perform” rating on shares of Cenovus Energy in a report on Friday, April 25th. Veritas cut shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 14th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $25.00 target price on shares of Cenovus Energy in a report on Friday, April 11th. Morgan Stanley reaffirmed an “overweight” rating on shares of Cenovus Energy in a report on Tuesday, April 15th. Finally, The Goldman Sachs Group lowered their target price on shares of Cenovus Energy from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.75.

Cenovus Energy Stock Performance

Shares of NYSE:CVE opened at $13.64 on Friday. The company’s 50 day simple moving average is $13.30 and its 200 day simple moving average is $13.81. The stock has a market capitalization of $24.68 billion, a price-to-earnings ratio of 12.75 and a beta of 0.94. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.46 and a quick ratio of 0.84. Cenovus Energy Inc has a 1 year low of $10.23 and a 1 year high of $20.76.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The business had revenue of $11.15 billion for the quarter, compared to analysts’ expectations of $12.39 billion. Cenovus Energy had a net margin of 5.22% and a return on equity of 9.56%. During the same period last year, the firm posted $0.62 earnings per share. As a group, research analysts predict that Cenovus Energy Inc will post 1.49 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The company also recently disclosed a dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.20 dividend. This represents a yield of 4.25%. This is a boost from Cenovus Energy’s previous dividend of $0.11. The ex-dividend date of this dividend is Friday, June 13th. Cenovus Energy’s dividend payout ratio (DPR) is 54.21%.

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.