929,155 Shares in Cenovus Energy Inc $CVE Acquired by Hosking Partners LLP

Key Points

• Hosking Partners LLP disclosed a new stake in Cenovus Energy, buying 929,155 shares valued at about $15.7 million in the fourth quarter.
• Analysts remain broadly positive on the stock, with several upgrades and a consensus Buy rating; the average price target is $29.67.
• Cenovus recently raised its quarterly dividend to $0.22 per share and topped earnings expectations, reporting $0.61 EPS and revenue of $10.79 billion for the quarter.

Hosking Partners LLP bought a new position in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 929,155 shares of the oil and gas company's stock, valued at approximately $15,721,000.

Several other large investors have also recently added to or reduced their stakes in the business. Pure Financial Advisors LLC purchased a new stake in Cenovus Energy during the 4th quarter worth approximately $184,000. International Assets Investment Management LLC increased its stake in Cenovus Energy by 0.9% during the 4th quarter. International Assets Investment Management LLC now owns 65,248 shares of the oil and gas company's stock worth $1,104,000 after buying an additional 565 shares during the period. Sequoia Financial Advisors LLC increased its stake in Cenovus Energy by 4.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 39,487 shares of the oil and gas company's stock worth $668,000 after buying an additional 1,798 shares during the period. Gateway Investment Advisers LLC increased its holdings in Cenovus Energy by 0.6% during the 4th quarter. Gateway Investment Advisers LLC now owns 93,986 shares of the oil and gas company's stock worth $1,590,000 after purchasing an additional 523 shares during the period. Finally, Triasima Portfolio Management inc. increased its holdings in Cenovus Energy by 179.9% during the 4th quarter. Triasima Portfolio Management inc. now owns 455,557 shares of the oil and gas company's stock worth $7,717,000 after purchasing an additional 292,782 shares during the period. 51.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded Cenovus Energy from a "buy" rating to a "strong-buy" rating in a report on Saturday. Royal Bank Of Canada upped their price target on Cenovus Energy from $29.00 to $31.00 and gave the stock an "outperform" rating in a report on Wednesday, February 18th. BMO Capital Markets restated an "outperform" rating on shares of Cenovus Energy in a report on Friday, February 20th. Weiss Ratings upgraded Cenovus Energy from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday. Finally, Veritas raised shares of Cenovus Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, March 10th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Cenovus Energy has a consensus rating of "Buy" and an average target price of $29.67.

Cenovus Energy Trading Down 0.0%

NYSE CVE opened at $28.40 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.57 and a quick ratio of 1.00. The firm's fifty day moving average price is $25.34 and its 200 day moving average price is $20.75. The company has a market capitalization of $53.24 billion, a price-to-earnings ratio of 15.60 and a beta of 0.37. Cenovus Energy Inc has a 12 month low of $12.88 and a 12 month high of $30.84.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its earnings results on Wednesday, May 6th. The oil and gas company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.05. The firm had revenue of $10.79 billion for the quarter, compared to the consensus estimate of $9.47 billion. Cenovus Energy had a net margin of 9.53% and a return on equity of 15.29%. The company's revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.47 EPS. On average, sell-side analysts expect that Cenovus Energy Inc will post 2.96 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.22 dividend. This is a positive change from Cenovus Energy's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.1%. Cenovus Energy's payout ratio is 32.42%.

Cenovus Energy Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.

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