Cenovus Energy Inc $CVE Shares Acquired by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC increased its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 18.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 916,749 shares of the oil and gas company’s stock after buying an additional 143,159 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Cenovus Energy were worth $15,509,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. J.W. Cole Advisors Inc. raised its position in shares of Cenovus Energy by 3.9% during the 4th quarter. J.W. Cole Advisors Inc. now owns 13,407 shares of the oil and gas company’s stock valued at $227,000 after buying an additional 500 shares during the period. Gateway Investment Advisers LLC raised its position in shares of Cenovus Energy by 0.6% during the 4th quarter. Gateway Investment Advisers LLC now owns 93,986 shares of the oil and gas company’s stock valued at $1,590,000 after buying an additional 523 shares during the period. International Assets Investment Management LLC raised its position in shares of Cenovus Energy by 0.9% during the 4th quarter. International Assets Investment Management LLC now owns 65,248 shares of the oil and gas company’s stock valued at $1,104,000 after buying an additional 565 shares during the period. Farther Finance Advisors LLC raised its position in shares of Cenovus Energy by 24.4% during the 4th quarter. Farther Finance Advisors LLC now owns 3,307 shares of the oil and gas company’s stock valued at $56,000 after buying an additional 649 shares during the period. Finally, IFP Advisors Inc raised its position in shares of Cenovus Energy by 15.7% during the 4th quarter. IFP Advisors Inc now owns 4,839 shares of the oil and gas company’s stock valued at $82,000 after buying an additional 656 shares during the period. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Performance

Shares of CVE stock opened at $27.63 on Wednesday. The company has a current ratio of 1.57, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The firm has a fifty day moving average price of $27.95 and a 200 day moving average price of $22.71. The company has a market cap of $51.66 billion, a P/E ratio of 15.18 and a beta of 0.34. Cenovus Energy Inc has a 12 month low of $13.47 and a 12 month high of $32.07.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Wednesday, May 6th. The oil and gas company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. Cenovus Energy had a net margin of 9.53% and a return on equity of 15.29%. The firm had revenue of $10.79 billion during the quarter, compared to the consensus estimate of $9.47 billion. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. Sell-side analysts predict that Cenovus Energy Inc will post 3.15 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.22 dividend. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, June 15th. Cenovus Energy’s payout ratio is currently 32.42%.

Analyst Ratings Changes

A number of analysts have recently weighed in on CVE shares. Scotiabank reaffirmed an “outperform” rating on shares of Cenovus Energy in a research report on Thursday, May 7th. Zacks Research raised Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 22nd. Wall Street Zen raised Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. UBS Group reaffirmed a “buy” rating on shares of Cenovus Energy in a research report on Thursday, April 9th. Finally, Lake Street Capital set a $36.00 target price on shares of Cenovus Energy in a research note on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $35.25.

About Cenovus Energy

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.