Guardian Partners Inc. Invests $924,000 in Cenovus Energy Inc. (NYSE:CVE)

Guardian Partners Inc. bought a new stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 60,291 shares of the oil and gas company’s stock, valued at approximately $924,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in shares of Cenovus Energy in the 3rd quarter valued at $25,000. Farther Finance Advisors LLC raised its stake in Cenovus Energy by 104.9% in the fourth quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 851 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Cenovus Energy during the 4th quarter worth about $67,000. Blue Trust Inc. boosted its position in shares of Cenovus Energy by 54.7% during the 4th quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company’s stock worth $72,000 after acquiring an additional 1,677 shares in the last quarter. Finally, SevenBridge Financial Group LLC purchased a new position in shares of Cenovus Energy in the 3rd quarter valued at about $162,000. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Analyst Upgrades and Downgrades

CVE has been the subject of a number of research analyst reports. Royal Bank of Canada lowered their price target on Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, February 21st. StockNews.com cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. Finally, National Bank Financial lowered shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.25.

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock opened at $14.17 on Friday. The firm’s fifty day simple moving average is $14.35 and its 200-day simple moving average is $15.52. Cenovus Energy Inc. has a 12 month low of $12.08 and a 12 month high of $21.90. The stock has a market capitalization of $25.82 billion, a price-to-earnings ratio of 11.71 and a beta of 1.99. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.27). Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $11.08 billion. As a group, equities analysts forecast that Cenovus Energy Inc. will post 1.49 earnings per share for the current year.

Cenovus Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.1269 per share. The ex-dividend date is Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a yield of 3.58%. Cenovus Energy’s payout ratio is 40.50%.

Cenovus Energy Company Profile

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.