Point72 Asia Singapore Pte. Ltd. bought a new position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 29,478 shares of the oil and gas company's stock, valued at approximately $447,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Polar Asset Management Partners Inc. lifted its holdings in Cenovus Energy by 79.8% during the 4th quarter. Polar Asset Management Partners Inc. now owns 125,637 shares of the oil and gas company's stock valued at $1,903,000 after buying an additional 55,780 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of Cenovus Energy by 4.0% during the fourth quarter. Quantinno Capital Management LP now owns 293,956 shares of the oil and gas company's stock valued at $4,453,000 after acquiring an additional 11,252 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new stake in shares of Cenovus Energy in the fourth quarter valued at approximately $4,545,000. Lloyd Harbor Capital Management LLC bought a new position in Cenovus Energy in the fourth quarter worth approximately $9,090,000. Finally, Gotham Asset Management LLC grew its position in shares of Cenovus Energy by 58.8% during the 4th quarter. Gotham Asset Management LLC now owns 257,797 shares of the oil and gas company's stock worth $3,906,000 after buying an additional 95,447 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors.
Cenovus Energy Stock Down 1.2%
Shares of NYSE CVE traded down $0.16 during trading hours on Monday, hitting $13.55. 5,359,345 shares of the stock were exchanged, compared to its average volume of 8,964,867. Cenovus Energy Inc. has a 12 month low of $10.23 and a 12 month high of $21.08. The firm has a fifty day moving average price of $12.68 and a 200-day moving average price of $14.20. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The company has a market cap of $24.70 billion, a PE ratio of 11.20 and a beta of 0.95.
Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The business had revenue of $11.15 billion for the quarter, compared to analyst estimates of $12.39 billion. During the same period in the previous year, the company earned $0.62 earnings per share. On average, sell-side analysts expect that Cenovus Energy Inc. will post 1.49 EPS for the current year.
Cenovus Energy Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.1269 per share. This represents a $0.51 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Friday, March 14th. Cenovus Energy's dividend payout ratio is currently 51.40%.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $25.00 price objective on shares of Cenovus Energy in a research note on Friday, April 11th. National Bank Financial lowered shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a report on Friday, February 21st. National Bankshares reiterated a "sector perform" rating on shares of Cenovus Energy in a research note on Friday, April 25th. Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, Veritas lowered Cenovus Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 14th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $25.75.
Get Our Latest Analysis on CVE
Cenovus Energy Profile
(
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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