7. AFFORDABLE AND CLEAN ENERGY

Truist Financial Corp Acquires 1,459 Shares of Cenovus Energy Inc. (NYSE:CVE)

Written by Amanda

Truist Financial Corp grew its holdings in shares of Cenovus Energy Inc. (NYSE:CVEFree Report) (TSE:CVE) by 2.6% in the fourth quarter, HoldingsChannel reports. The fund owned 57,668 shares of the oil and gas company’s stock after purchasing an additional 1,459 shares during the quarter. Truist Financial Corp’s holdings in Cenovus Energy were worth $960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. NBC Securities Inc. bought a new position in Cenovus Energy in the 3rd quarter worth $34,000. Financial Perspectives Inc bought a new position in Cenovus Energy in the 4th quarter worth $28,000. GHP Investment Advisors Inc. bought a new position in Cenovus Energy in the 4th quarter worth $43,000. Operose Advisors LLC bought a new position in Cenovus Energy in the 3rd quarter worth $79,000. Finally, Wahed Invest LLC bought a new position in Cenovus Energy in the 3rd quarter worth $200,000. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Down 0.5 %

CVE opened at $20.43 on Tuesday. The firm has a 50-day simple moving average of $20.12 and a two-hundred day simple moving average of $18.04. Cenovus Energy Inc. has a 52 week low of $14.69 and a 52 week high of $21.90. The company has a market capitalization of $37.95 billion, a PE ratio of 11.35 and a beta of 2.10. The company has a quick ratio of 1.01, a current ratio of 1.70 and a debt-to-equity ratio of 0.25.

Cenovus Energy (NYSE:CVEGet Free Report) (TSE:CVE) last released its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. The business had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $9.73 billion. Cenovus Energy had a net margin of 8.73% and a return on equity of 16.53%. During the same quarter in the prior year, the firm earned $0.29 EPS. Analysts forecast that Cenovus Energy Inc. will post 1.92 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.0981 per share. This represents a $1.18 annualized dividend and a dividend yield of 5.76%. The ex-dividend date is Thursday, May 16th. Cenovus Energy’s dividend payout ratio is 22.78%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CVE. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $28.00 target price on shares of Cenovus Energy in a report on Friday, January 26th. StockNews.com raised shares of Cenovus Energy from a “buy” rating to a “strong-buy” rating in a report on Friday, May 3rd. UBS Group raised shares of Cenovus Energy from a “neutral” rating to a “buy” rating in a report on Friday, February 23rd. Finally, Morgan Stanley increased their price objective on shares of Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $26.67.

Get Our Latest Research Report on CVE

About Cenovus Energy

(Free Report)

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.

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Want to see what other hedge funds are holding CVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cenovus Energy Inc. (NYSE:CVEFree Report) (TSE:CVE).



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Source: defenseworld.net

About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai