Originally published on Best Stocks Category: best stocks to buy now The publicly traded company Cenovus Energy Inc. (NYSE: CVE) (TSE: CVE) announced the payment of a quarterly dividend on Tuesday, November 1, according to Zacks. On Friday, December 30, stockholders recorded as having ownership on Thursday, December 15, will be eligible to receive a $0.076 dividend payment per share. This payment will be made. This equates to an annual dividend payment of $0.30 and a dividend yield of 1.44 percent for the company. The date of the dividend distribution set for December 14 is currently scheduled.Cenovus Energy has reduced its dividend payment by an average of 23% annually over the past three years. Cenovus Energy has a dividend payout ratio of 10.3%, which indicates that the company’s earnings are sufficient to cover the dividend payment without any problems. In the following year, it is anticipated that Cenovus Energy will have earnings of $2.89 per share. This will enable the company to pay its annual dividend of $0.32 while maintaining an expected future payout ratio of 11.1%.During trading on Thursday during the middle of the day, the price of CVE common stock rose by $0.85 to $21.14. In total, 683,449 shares of the company’s stock were traded, which is significantly lower than the daily volume of 8,568,144 typically traded shares. The company’s market capitalization is currently at $40.66 billion, its P/E ratio is currently at 12.68, and its beta is currently at 2.33. The all-time low for Cenovus Energy over the past year is $10.72, while the all-time high for the company over the past year is $24.91. 1.73 is the value of the current ratio, 1.14 is the value of the quick ratio, and 0.44 is the value of the debt-to-equity ratio. A company’s ability to meet its short-term financial commitments is evaluated using the quick ratio. The current simple moving average for the past 50 days at the company is $18.12, and the simple moving average for the past 200 days is $18.91.Over the past few weeks, several brokerage firms have issued statements regarding CVE. StockNews.com released a research report on Wednesday, October 12, which initiated coverage of Cenovus Energy shares. The report can be found here. Investors were encouraged to follow their recommendations and purchase the stock. The price target that National Bank Financial has set for Cenovus Energy has decreased from C$38.00 to C$36.00 due to a research note published on September 30. Jefferies Financial Group stated in a report that they would begin following and covering Cenovus Energy effective with the publication of that report on October 19. Investors were encouraged to follow their recommendations and purchase the stock. In a report on Thursday, October 13, Scotiabank stated that they had decreased their target price for Cenovus Energy from C$34.00 to C$33.00. This change was made in response to recent market events. Credit Suisse Group maintained its “outperform” rating on shares of Cenovus Energy. It established a price objective of $37.00 for the stock in a research note published on Thursday, August 11. According to the information provided by Bloomberg, nine equity research professionals suggest investing in the company’s shares. The stock is currently rated as a “buy” with an average price objective of $27.30.Recent happenings have caused shifts in the ownership percentages held by hedge funds and other types of institutional investors in the company. These investors include pension funds and endowments. Bornite Capital Management L.P. increased the proportion of Cenovus Energy shares it owned by 20.0% over the first three months of 2018. Bornite Capital Management L.P. has accumulated 3,000,000 shares of the oil and gas company’s stock after purchasing an additional 500,000 shares over the most recent quarter. Based on the stock’s current market price, this investment is estimated to be worth a total of $50,040,000. Raymond James & Associates successfully increased the amount of Cenovus Energy shares it owned by 48.6% over the first three months of 2018. Raymond James & Associates now has a total of 130,378 shares of the oil and gas company thanks to the purchase of an additional 42,646 shares during the quarter.The current market value of Raymond James & Associates oil and gas holdings is $2,175,000. In the first quarter of 2018, the Bank of New York Mellon Corporation increased its holdings in Cenovus Energy by purchasing an additional 0.5 percent of the company’s shares. As a result, the Bank of New York Mellon Corp. now owns 1,471,933 shares of the oil and gas company after purchasing an additional 7,624 shares during the preceding quarter to bring its total number to 1,471,933. These shares are currently worth $24,551 based on the market. Furthermore, the amount of Cenovus Energy stock Cambridge Investment Research Advisors Inc. owned increased by 25.1% over the first three months of 2018. After making additional purchases totaling 4,806 shares during the most recent fiscal quarter, Cambridge Investment Research Advisors Inc. now owns 23,944 shares of the oil and gas company’s stock. The stock has a value of $399,000, and the company has a market capitalization of that amount. In addition, during the first three months of the year, Natixis Advisors L.P. increased the proportion of Cenovus Energy stock owned by 11.6%. As a result, Natixis Advisors Limited Partnership now has a total of 49,549 shares of the stock of the oil and gas company, which has a market value of $826,000; this is a result of the acquisition of an additional 5,150 shares during the preceding quarter. At the moment, institutional investors are in control of 50.30 percent of the company’s total shares.Exploration, production, and marketing of crude oil, natural gas liquids, and natural gas are the responsibilities of the subsidiaries of Cenovus Energy Inc. in the regions of Canada, the United States of America, and Asia Pacific. The company is organized into several distinct divisions, the most notable of which are Oil Sands, Conventional, Offshore, Canadian Manufacturing, United States Manufacturing, and Retail.