12,894 Shares in Cenovus Energy Inc. (NYSE:CVE) Bought by Bank of Stockton

Bank of Stockton purchased a new stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 12,894 shares of the oil and gas company’s stock, valued at approximately $216,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC raised its holdings in shares of Cenovus Energy by 71.4% during the 1st quarter. Wolff Wiese Magana LLC now owns 2,400 shares of the oil and gas company’s stock valued at $48,000 after buying an additional 1,000 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Cenovus Energy by 640.3% in the 3rd quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 2,651 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Cenovus Energy by 42.1% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 4,827 shares of the oil and gas company’s stock valued at $96,000 after purchasing an additional 1,429 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cenovus Energy by 8.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company’s stock valued at $170,000 after purchasing an additional 643 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in Cenovus Energy in the 1st quarter worth $205,000. Institutional investors own 51.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. BMO Capital Markets cut their price target on shares of Cenovus Energy from $33.00 to $31.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Scotiabank dropped their price objective on Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Finally, TD Securities lowered Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Cenovus Energy currently has an average rating of “Moderate Buy” and a consensus target price of $30.75.

Cenovus Energy Stock Up 0.9 %

Shares of Cenovus Energy stock traded up $0.15 during midday trading on Friday, hitting $16.89. The company had a trading volume of 1,009,197 shares, compared to its average volume of 8,853,034. The company has a 50 day moving average of $17.52 and a 200 day moving average of $19.08. The stock has a market capitalization of $31.40 billion, a P/E ratio of 9.30 and a beta of 2.04. Cenovus Energy Inc. has a 52-week low of $14.69 and a 52-week high of $21.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.66.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Thursday, August 1st. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.13). Cenovus Energy had a return on equity of 16.61% and a net margin of 8.56%. The firm had revenue of $10.88 billion during the quarter, compared to analysts’ expectations of $9.78 billion. On average, equities analysts predict that Cenovus Energy Inc. will post 1.84 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $0.132 per share. This represents a $0.53 annualized dividend and a yield of 3.13%. The ex-dividend date was Friday, September 13th. Cenovus Energy’s dividend payout ratio is currently 29.44%.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.