Cenovus Energy Inc. (NYSE:CVE) Shares Bought by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. lifted its position in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 79.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,637 shares of the oil and gas company's stock after acquiring an additional 55,780 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Cenovus Energy were worth $1,903,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CVE. Capital World Investors boosted its stake 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 acquiring an additional 26,127,617 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Cenovus Energy by 48.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,001,002 shares of the oil and gas company's stock worth $196,935,000 after acquiring an additional 4,220,663 shares in the last quarter. Franklin Resources Inc. lifted its stake in Cenovus Energy by 105.0% in the 4th quarter. Franklin Resources Inc. now owns 4,337,551 shares of the oil and gas company's stock valued at $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 valued at $128,783,000 after buying an additional 1,873,415 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Cenovus Energy by 36.3% in the 4th quarter. Renaissance Technologies LLC now owns 4,378,894 shares of the oil and gas company's stock valued at $66,340,000 after buying an additional 1,166,294 shares in the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CVE shares. Morgan Stanley reaffirmed an "overweight" rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $25.00 price target on shares of Cenovus Energy in a research note on Friday, April 11th. Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a research note on Wednesday, March 19th. The Goldman Sachs Group decreased their price target on shares of Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Finally, National Bank Financial lowered shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.75.

Cenovus Energy Stock Down 0.6%

CVE stock traded down $0.08 during midday trading on Thursday, hitting $13.19. The company's stock had a trading volume of 7,959,375 shares, compared to its average volume of 9,048,098. The firm has a market capitalization of $24.03 billion, a P/E ratio of 10.90 and a beta of 0.95. The firm has a 50-day simple moving average of $12.69 and a 200-day simple moving average of $14.17. Cenovus Energy Inc. has a 52-week low of $10.23 and a 52-week high of $21.08. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings data 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. The business had revenue of $11.15 billion during the quarter, compared to analysts' expectations of $12.39 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. During the same period in the previous year, the company earned $0.62 EPS. As a group, equities analysts forecast that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.1269 per share. The ex-dividend date was Friday, March 14th. This represents a $0.51 annualized dividend and a dividend yield of 3.85%. Cenovus Energy's dividend payout ratio (DPR) is currently 51.40%.

About Cenovus Energy

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.