Cenovus Energy Inc. (NYSE:CVE) Shares Bought by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lifted its holdings in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,080,000 shares of the oil and gas company's stock after purchasing an additional 120,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.17% of Cenovus Energy worth $46,662,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in CVE. Farther Finance Advisors LLC boosted its position in shares of Cenovus Energy by 104.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company's stock worth $25,000 after buying an additional 851 shares during the period. Sierra Ocean LLC acquired a new position in Cenovus Energy in the 4th quarter valued at about $67,000. Blue Trust Inc. grew its position in Cenovus Energy by 54.7% in the 4th quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company's stock valued at $72,000 after acquiring an additional 1,677 shares in the last quarter. Natixis purchased a new stake in Cenovus Energy during the fourth quarter worth about $98,000. Finally, Empirical Asset Management LLC acquired a new stake in shares of Cenovus Energy during the fourth quarter worth about $174,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Stock Down 3.0 %

Shares of NYSE CVE traded down $0.36 during mid-day trading on Wednesday, reaching $11.76. The company had a trading volume of 4,918,736 shares, compared to its average volume of 8,636,222. Cenovus Energy Inc. has a 52-week low of $10.23 and a 52-week high of $21.42. The stock has a market cap of $21.43 billion, a P/E ratio of 9.72 and a beta of 1.46. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The firm has a 50 day simple moving average of $12.82 and a two-hundred day simple moving average of $14.58.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.27). The firm had revenue of $8.40 billion during 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%. Sell-side analysts predict that Cenovus Energy Inc. will post 1.49 earnings per share for the current year.

Cenovus Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.1269 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date was Friday, March 14th. Cenovus Energy's dividend payout ratio is currently 40.50%.

Analyst Upgrades and Downgrades

CVE has been the topic of several analyst reports. Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. National Bank Financial cut Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. Royal Bank of Canada reissued an "outperform" rating and set a $25.00 price objective on shares of Cenovus Energy in a research report on Friday, April 11th. Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, National Bankshares restated a "sector perform" rating on shares of Cenovus Energy in a report on Friday. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Cenovus Energy has an average rating of "Moderate Buy" and a consensus target price of $29.00.

Cenovus Energy 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.