Catalyst Capital Advisors LLC Invests $2.20 Million in Cenovus Energy Inc $CVE

Catalyst Capital Advisors LLC acquired a new position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 83,000 shares of the oil and gas company’s stock, valued at approximately $2,202,000.

A number of other institutional investors have also recently modified their holdings of CVE. J.W. Cole Advisors Inc. increased its position in shares of Cenovus Energy by 3.9% in the fourth 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 in the last quarter. Gateway Investment Advisers LLC raised its stake 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 worth $1,590,000 after buying an additional 523 shares during the period. International Assets Investment Management LLC increased its holdings in Cenovus Energy by 0.9% in the 4th quarter. International Assets Investment Management LLC now owns 65,248 shares of the oil and gas company’s stock worth $1,104,000 after acquiring an additional 565 shares in the last quarter. OLD National Bancorp IN increased its holdings in Cenovus Energy by 5.2% in the 1st quarter. OLD National Bancorp IN now owns 12,597 shares of the oil and gas company’s stock worth $334,000 after acquiring an additional 618 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in Cenovus Energy by 24.4% during the fourth quarter. Farther Finance Advisors LLC now owns 3,307 shares of the oil and gas company’s stock worth $56,000 after acquiring an additional 649 shares during the period. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Stock Performance

NYSE:CVE opened at $27.97 on Friday. Cenovus Energy Inc has a 52 week low of $13.98 and a 52 week high of $32.07. The company has a market cap of $52.03 billion, a price-to-earnings ratio of 15.37 and a beta of 0.34. The company has a quick ratio of 1.00, a current ratio of 1.57 and a debt-to-equity ratio of 0.33. The company has a fifty day simple moving average of $27.56 and a two-hundred day simple moving average of $24.35.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.05. The business had revenue of $10.79 billion during the quarter, compared to the consensus estimate of $9.47 billion. Cenovus Energy had a net margin of 9.53% and a return on equity of 15.29%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 EPS. As a group, equities analysts anticipate that Cenovus Energy Inc will post 2.91 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, June 15th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.20. Cenovus Energy’s dividend payout ratio is currently 35.16%.

Analysts Set New Price Targets

A number of research analysts have weighed in on CVE shares. The Goldman Sachs Group reissued a “buy” rating on shares of Cenovus Energy in a research note on Wednesday, May 13th. Lake Street Capital set a $36.00 price target on shares of Cenovus Energy in a research note on Wednesday, May 13th. UBS Group restated a “buy” rating on shares of Cenovus Energy in a report on Thursday, April 9th. Royal Bank Of Canada upped their target price on shares of Cenovus Energy from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Tuesday, May 19th. Finally, Scotiabank raised shares of Cenovus Energy to a “strong-buy” rating in a research note on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Cenovus Energy presently has a consensus rating of “Buy” and a consensus target price of $35.25.

Cenovus Energy Company Profile

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.