FDx Advisors Inc. grew its stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 75.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,169 shares of the oil and gas company’s stock after acquiring an additional 12,971 shares during the quarter. FDx Advisors Inc.’s holdings in Cenovus Energy were worth $302,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Allegis Investment Advisors LLC boosted its position in shares of Cenovus Energy by 16.9% in the 2nd quarter. Allegis Investment Advisors LLC now owns 13,933 shares of the oil and gas company’s stock worth $103,000 after purchasing an additional 2,016 shares in the last quarter. Cigna Investments Inc. New acquired a new stake in Cenovus Energy during the 2nd quarter worth about $110,000. First Commonwealth Financial Corp PA acquired a new stake in Cenovus Energy during the 2nd quarter worth about $114,000. Sciencast Management LP acquired a new stake in Cenovus Energy during the 2nd quarter worth about $124,000. Finally, HighTower Advisors LLC acquired a new stake in Cenovus Energy during the 2nd quarter worth about $130,000. Institutional investors and hedge funds own 56.84% of the company’s stock.
CVE has been the subject of several analyst reports. Morgan Stanley set a $15.00 price objective on Cenovus Energy and gave the company a “buy” rating in a report on Friday, October 13th. Canaccord Genuity restated a “buy” rating and issued a $14.00 price target on shares of Cenovus Energy in a research note on Tuesday, September 5th. Zacks Investment Research upgraded Cenovus Energy from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Thursday, October 19th. AltaCorp Capital lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Thursday, November 9th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $15.00 price target on shares of Cenovus Energy in a research report on Monday, October 16th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Cenovus Energy currently has an average rating of “Hold” and an average target price of $16.06.
Shares of Cenovus Energy Inc (CVE) traded up $0.20 during mid-day trading on Thursday, hitting $9.48. The company’s stock had a trading volume of 2,228,040 shares, compared to its average volume of 4,188,087. The stock has a market capitalization of $11,882.40, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 2.79 and a beta of 0.61. Cenovus Energy Inc has a 12 month low of $6.76 and a 12 month high of $16.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.10 and a current ratio of 1.41.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.039 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Thursday, December 14th. Cenovus Energy’s payout ratio is 8.08%.
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Cenovus Energy Profile
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