Tacita Capital Inc Takes Position in Cenovus Energy Inc $CVE

Tacita Capital Inc bought a new position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the second quarter, Holdings Channel reports. The firm bought 18,257 shares of the oil and gas company’s stock, valued at approximately $452,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVE. Capital Research Global Investors raised its position in Cenovus Energy by 16.6% during the fourth quarter. Capital Research Global Investors now owns 124,313,513 shares of the oil and gas company’s stock valued at $2,103,090,000 after acquiring an additional 17,730,542 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Cenovus Energy by 440.8% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 15,414,179 shares of the oil and gas company’s stock valued at $260,797,000 after acquiring an additional 12,564,179 shares during the period. Bank of America Corp DE boosted its position in Cenovus Energy by 111.2% in the 1st quarter. Bank of America Corp DE now owns 22,770,723 shares of the oil and gas company’s stock worth $604,107,000 after purchasing an additional 11,990,405 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Cenovus Energy by 322.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 15,521,050 shares of the oil and gas company’s stock worth $211,338,000 after purchasing an additional 11,849,355 shares during the period. Finally, FIL Ltd grew its stake in shares of Cenovus Energy by 40.0% during the 4th quarter. FIL Ltd now owns 38,533,059 shares of the oil and gas company’s stock worth $651,880,000 after purchasing an additional 11,019,212 shares during the period. 51.19% of the stock is owned by institutional investors and hedge funds.

Cenovus Energy Stock Performance

Shares of CVE stock opened at $32.49 on Thursday. The company has a current ratio of 1.63, a quick ratio of 1.04 and a debt-to-equity ratio of 0.25. Cenovus Energy Inc has a 12-month low of $14.85 and a 12-month high of $33.11. The business’s 50 day moving average is $27.65 and its two-hundred day moving average is $26.32. The company has a market capitalization of $60.10 billion, a P/E ratio of 12.50 and a beta of 0.34.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $1.11 EPS for the quarter, meeting analysts’ consensus estimates of $1.11. The business had revenue of $14.59 billion during the quarter, compared to analysts’ expectations of $11.87 billion. Cenovus Energy had a return on equity of 21.08% and a net margin of 12.37%.The business’s revenue was up 47.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share. Analysts expect that Cenovus Energy Inc will post 3.2 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The business also recently declared 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 of this dividend is Tuesday, September 15th. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. Cenovus Energy’s dividend payout ratio (DPR) is currently 24.62%.

Wall Street Analyst Weigh In

CVE has been the subject of several recent research reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Cenovus Energy in a report on Wednesday. The Goldman Sachs Group reissued a “buy” rating on shares of Cenovus Energy in a report on Wednesday, May 13th. Zacks Research lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Lake Street Capital set a $36.00 price objective on shares of Cenovus Energy in a report on Wednesday, May 13th. Finally, Raymond James Financial downgraded shares of Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Cenovus Energy presently has a consensus rating of “Moderate Buy” and a consensus price target 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.