Bayesian Capital Management LP raised its holdings in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 125.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 163,000 shares of the oil and gas company's stock after purchasing an additional 90,700 shares during the period. Bayesian Capital Management LP's holdings in Cenovus Energy were worth $2,469,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Capital World Investors raised its position in shares of Cenovus Energy by 15.8% during the 4th quarter. Capital World Investors now owns 191,412,590 shares of the oil and gas company's stock worth $2,901,131,000 after purchasing an additional 26,127,617 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Cenovus Energy by 48.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,001,002 shares of the oil and gas company's stock worth $196,935,000 after buying an additional 4,220,663 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Cenovus Energy by 105.0% in the fourth quarter. Franklin Resources Inc. now owns 4,337,551 shares of the oil and gas company's stock worth $65,667,000 after buying an additional 2,221,549 shares in the last quarter. Geode Capital Management LLC lifted its stake in Cenovus Energy by 29.2% in the 4th quarter. Geode Capital Management LLC now owns 8,287,334 shares of the oil and gas company's stock worth $128,783,000 after purchasing an additional 1,873,415 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Cenovus Energy by 36.3% during the 4th quarter. Renaissance Technologies LLC now owns 4,378,894 shares of the oil and gas company's stock worth $66,340,000 after buying an additional 1,166,294 shares during the last quarter. 51.19% of the stock is owned by institutional investors and hedge funds.
Cenovus Energy Stock Down 0.6 %
Shares of NYSE:CVE traded down $0.08 during midday trading on Wednesday, hitting $11.77. 16,963,869 shares of the company's stock traded hands, compared to its average volume of 8,733,066. Cenovus Energy Inc. has a twelve month low of $10.23 and a twelve month high of $21.08. The firm's fifty day moving average price is $12.55 and its two-hundred day moving average price is $14.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. The company has a market cap of $21.44 billion, a PE ratio of 9.72 and a beta of 0.95.
Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings data on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.27). The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. On average, equities research analysts anticipate that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.
Cenovus Energy Cuts Dividend
The firm also recently announced 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 dividend on an annualized basis and a yield of 4.31%. Cenovus Energy's dividend payout ratio is currently 40.50%.
Analysts Set New Price Targets
Several brokerages recently weighed in on CVE. The Goldman Sachs Group lowered their price objective on Cenovus Energy from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $25.00 target price 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 report on Friday, February 21st. Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Cenovus Energy in a research report on Friday, April 25th. 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $25.75.
Check Out Our Latest Research Report on CVE
Cenovus Energy Profile
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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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