Balyasny Asset Management L.P. Has $6.87 Million Stock Position in Cenovus Energy Inc. (NYSE:CVE)

Balyasny Asset Management L.P. boosted its holdings in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 69.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 453,446 shares of the oil and gas company's stock after purchasing an additional 185,458 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Cenovus Energy were worth $6,872,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Capital World Investors boosted its position in shares of Cenovus Energy by 15.8% in the fourth quarter. Capital World Investors now owns 191,412,590 shares of the oil and gas company's stock valued at $2,901,131,000 after acquiring an additional 26,127,617 shares during the period. Capital International Investors boosted its holdings in Cenovus Energy by 0.7% in the 4th quarter. Capital International Investors now owns 53,572,829 shares of the oil and gas company's stock valued at $811,769,000 after purchasing an additional 382,519 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Cenovus Energy by 48.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,001,002 shares of the oil and gas company's stock valued at $196,935,000 after buying an additional 4,220,663 shares during the period. Geode Capital Management LLC lifted its stake in shares of Cenovus Energy by 29.2% in the fourth quarter. Geode Capital Management LLC now owns 8,287,334 shares of the oil and gas company's stock valued at $128,783,000 after buying an additional 1,873,415 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Cenovus Energy by 3.6% in the fourth quarter. Invesco Ltd. now owns 8,043,884 shares of the oil and gas company's stock valued at $121,865,000 after buying an additional 276,023 shares during the period. Institutional investors own 51.19% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on CVE. Royal Bank of Canada reiterated an "outperform" rating and issued a $25.00 price objective on shares of Cenovus Energy in a research report on Friday, April 11th. National Bank Financial cut shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. The Goldman Sachs Group cut their price target on shares of Cenovus Energy from $18.00 to $16.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a report on Tuesday, April 15th. Finally, Scotiabank upgraded shares of Cenovus Energy to a "strong-buy" rating in a research note on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $25.75.

Cenovus Energy Trading Up 1.8%

Shares of Cenovus Energy stock traded up $0.25 on Tuesday, hitting $13.96. 11,248,868 shares of the company's stock traded hands, compared to its average volume of 8,908,458. 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 Inc. has a one year low of $10.23 and a one year high of $21.08. The stock has a market capitalization of $25.44 billion, a PE ratio of 11.54 and a beta of 0.95. The firm's 50-day moving average price is $12.60 and its two-hundred day moving average price is $14.27.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its earnings results on Thursday, May 8th. The oil and gas company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.29 by $0.03. The firm had revenue of $11.15 billion during the quarter, compared to the consensus estimate of $12.39 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. During the same quarter in the prior year, the firm earned $0.62 earnings per share. On average, research analysts expect that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.1269 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.51 annualized dividend and a dividend yield of 3.63%. Cenovus Energy's dividend payout ratio (DPR) is currently 51.40%.

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.