Alyeska Investment Group L.P. Invests $2.85 Million in Cenovus Energy Inc $CVE

Key Points

• Alyeska Investment Group L.P. has made a new investment of approximately $2.85 million in Cenovus Energy, acquiring 204,786 shares in the first quarter.
• Cenovus Energy's stock has reported a 3.2% decline recently, with its current trading price at $15.95 and a market cap of $28.69 billion.
• The company recently declared a quarterly dividend of $0.20, yielding 5.0%, with a dividend payout ratio of 57.43%.

Alyeska Investment Group L.P. acquired a new position in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 204,786 shares of the oil and gas company's stock, valued at approximately $2,849,000.

Other large investors also recently added to or reduced their stakes in the company. Northern Trust Corp raised its position in shares of Cenovus Energy by 50.0% in the fourth quarter. Northern Trust Corp now owns 946,644 shares of the oil and gas company's stock valued at $14,342,000 after buying an additional 315,339 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Cenovus Energy by 37.9% in the fourth quarter. Ameriprise Financial Inc. now owns 92,386 shares of the oil and gas company's stock valued at $1,400,000 after buying an additional 25,377 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in Cenovus Energy by 69.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 453,446 shares of the oil and gas company's stock worth $6,872,000 after buying an additional 185,458 shares in the last quarter. Cetera Investment Advisers boosted its stake in Cenovus Energy by 8.7% during the fourth quarter. Cetera Investment Advisers now owns 46,096 shares of the oil and gas company's stock worth $698,000 after buying an additional 3,676 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in Cenovus Energy by 4.0% in the 4th quarter. Deutsche Bank AG now owns 1,117,414 shares of the oil and gas company's stock valued at $16,929,000 after buying an additional 42,817 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Stock Performance

CVE stock traded up $0.06 on Monday, hitting $16.01. The company's stock had a trading volume of 9,542,167 shares, compared to its average volume of 13,383,576. The firm has a 50 day moving average of $15.09 and a two-hundred day moving average of $13.81. Cenovus Energy Inc has a 1 year low of $10.23 and a 1 year high of $18.61. The stock has a market cap of $28.79 billion, a price-to-earnings ratio of 15.85 and a beta of 0.99. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 0.24.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings data on Thursday, July 31st. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.19. The company had revenue of $10.66 billion for the quarter, compared to analysts' expectations of $10.64 billion. Cenovus Energy had a net margin of 5.18% and a return on equity of 9.06%. Cenovus Energy's revenue was down 12.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 EPS. Equities analysts predict that Cenovus Energy Inc will post 1.49 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Monday, September 15th. Cenovus Energy's payout ratio is currently 57.43%.

Analyst Ratings Changes

A number of equities analysts have commented on CVE shares. Jefferies Financial Group reaffirmed a "buy" rating on shares of Cenovus Energy in a research note on Tuesday, September 2nd. Royal Bank Of Canada upped their target price on shares of Cenovus Energy from $25.00 to $26.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. National Bank Financial raised shares of Cenovus Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 22nd. Veritas cut shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, National Bankshares upgraded shares of Cenovus Energy from a "sector perform" rating to an "outperform" rating in a report on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $23.33.

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.