Sanctuary Advisors LLC Makes New $1.46 Million Investment in Cenovus Energy Inc $CVE

Sanctuary Advisors LLC acquired a new stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 59,026 shares of the oil and gas company’s stock, valued at approximately $1,464,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Transamerica Financial Advisors LLC increased its position in Cenovus Energy by 1,302.7% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 1,433 shares during the period. NBC Securities Inc. lifted its position in Cenovus Energy by 961.5% during the 4th quarter. NBC Securities Inc. now owns 1,656 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 1,500 shares during the period. Gables Capital Management Inc. acquired a new stake in Cenovus Energy during the 2nd quarter worth approximately $35,000. Kestra Advisory Services LLC purchased a new position in shares of Cenovus Energy in the 4th quarter valued at approximately $38,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Cenovus Energy by 74.1% in the second quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 1,384 shares during the period. 51.19% of the stock is owned by hedge funds and other institutional investors.

Cenovus Energy Trading Up 2.3%

Shares of CVE stock opened at $31.48 on Thursday. The business’s fifty day moving average price is $28.14 and its 200 day moving average price is $26.75. Cenovus Energy Inc has a 1-year low of $15.63 and a 1-year high of $33.40. The firm has a market capitalization of $58.22 billion, a PE ratio of 12.11 and a beta of 0.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.04.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its earnings results on Wednesday, July 29th. The oil and gas company reported $1.11 EPS for the quarter, meeting analysts’ consensus estimates of $1.11. The company had revenue of $14.59 billion during the quarter, compared to the consensus estimate of $11.87 billion. Cenovus Energy had a return on equity of 21.08% and a net margin of 12.37%.Cenovus Energy’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 earnings per share. As a group, sell-side analysts forecast that Cenovus Energy Inc will post 3.2 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. Cenovus Energy’s dividend payout ratio (DPR) is 24.62%.

Analyst Upgrades and Downgrades

CVE has been the subject of several recent research reports. Scotiabank reaffirmed an “outperform” rating on shares of Cenovus Energy in a report on Thursday, July 30th. Raymond James Financial cut shares of Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, May 6th. Zacks Research downgraded shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Morgan Stanley reaffirmed an “overweight” rating on shares of Cenovus Energy in a report on Wednesday, August 19th. Finally, Desjardins upgraded shares of Cenovus Energy to a “moderate buy” rating in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Cenovus Energy presently has an average rating of “Moderate Buy” and an average target price of $36.25.

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.