DORCHESTER WEALTH MANAGEMENT Co Has $3.48 Million Position in Cenovus Energy Inc (NYSE:CVE)

DORCHESTER WEALTH MANAGEMENT Co raised its stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 7.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 472,349 shares of the oil and gas company’s stock after buying an additional 31,849 shares during the period. DORCHESTER WEALTH MANAGEMENT Co owned about 0.06% of Cenovus Energy worth $3,480,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. AMF Pensionsforsakring AB increased its stake in Cenovus Energy by 1.4% in the first quarter. AMF Pensionsforsakring AB now owns 1,026,623 shares of the oil and gas company’s stock valued at $11,585,000 after buying an additional 14,380 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Cenovus Energy by 51.6% in the first quarter. Acadian Asset Management LLC now owns 13,800 shares of the oil and gas company’s stock worth $156,000 after buying an additional 4,700 shares during the period. Korea Investment CORP increased its stake in shares of Cenovus Energy by 258.9% in the first quarter. Korea Investment CORP now owns 890,170 shares of the oil and gas company’s stock worth $10,045,000 after buying an additional 642,170 shares during the period. Candriam Luxembourg S.C.A. increased its stake in shares of Cenovus Energy by 10.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 22,361 shares of the oil and gas company’s stock worth $252,000 after buying an additional 2,200 shares during the period. Finally, Beutel Goodman & Co Ltd. increased its stake in shares of Cenovus Energy by 5.0% in the first quarter. Beutel Goodman & Co Ltd. now owns 45,403,489 shares of the oil and gas company’s stock worth $512,963,000 after buying an additional 2,152,330 shares during the period. Institutional investors own 55.90% of the company’s stock.

Cenovus Energy Inc (NYSE CVE) opened at 8.20 on Thursday. The firm has a market capitalization of $10.08 billion, a price-to-earnings ratio of 3.46 and a beta of 0.57. Cenovus Energy Inc has a 52-week low of $6.76 and a 52-week high of $16.82. The company’s 50-day moving average price is $7.59 and its 200 day moving average price is $10.31.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.24. The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.40 billion. Cenovus Energy had a return on equity of 3.20% and a net margin of 17.89%. During the same quarter last year, the business posted ($0.05) EPS. Equities analysts predict that Cenovus Energy Inc will post $0.37 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.039 dividend. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. The ex-dividend date is Thursday, September 14th. This represents a $0.16 annualized dividend and a dividend yield of 1.90%. Cenovus Energy’s dividend payout ratio (DPR) is currently 8.33%.

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A number of equities research analysts have recently weighed in on the company. Canaccord Genuity reiterated a “hold” rating and issued a $16.50 price target on shares of Cenovus Energy in a report on Wednesday, April 26th. Zacks Investment Research lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. Credit Suisse Group reiterated an “outperform” rating on shares of Cenovus Energy in a research report on Friday, May 26th. ValuEngine lowered Cenovus Energy from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, BidaskClub upgraded Cenovus Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $17.34.

About Cenovus Energy

Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

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