CenterBook Partners LP Purchases New Position in Cenovus Energy Inc (NYSE:CVE)

CenterBook Partners LP purchased a new stake in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE during the first quarter, according to its most recent filing with the SEC. The firm purchased 42,897 shares of the oil and gas company's stock, valued at approximately $597,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in Cenovus Energy during the 4th quarter valued at about $3,649,000. Sequoia Financial Advisors LLC boosted its position in Cenovus Energy by 19.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 19,966 shares of the oil and gas company's stock worth $302,000 after purchasing an additional 3,320 shares in the last quarter. Farther Finance Advisors LLC boosted its position in 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 purchasing an additional 851 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in Cenovus Energy by 34.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 14,835 shares of the oil and gas company's stock worth $225,000 after purchasing an additional 3,827 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its position in Cenovus Energy by 33.6% during the fourth quarter. Corient Private Wealth LLC now owns 69,627 shares of the oil and gas company's stock worth $1,055,000 after purchasing an additional 17,529 shares in the last quarter. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Veritas downgraded Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Royal Bank Of Canada restated an "outperform" rating and issued a $25.00 target price on shares of Cenovus Energy in a research report on Friday, April 11th. National Bankshares restated a "sector perform" rating on shares of Cenovus Energy in a research report on Friday, April 25th. The Goldman Sachs Group reduced their price objective on Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a research report on Tuesday, April 15th. Five 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $23.00.

Cenovus Energy Stock Down 0.0%

Shares of NYSE:CVE traded down $0.01 during trading on Monday, hitting $14.07. The company's stock had a trading volume of 3,906,680 shares, compared to its average volume of 9,951,735. Cenovus Energy Inc has a fifty-two week low of $10.23 and a fifty-two week high of $20.40. The company has a market capitalization of $25.45 billion, a PE ratio of 13.15 and a beta of 0.93. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.84 and a current ratio of 1.46. The business has a 50 day moving average price of $13.93 and a two-hundred day moving average price of $13.72.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its earnings results on Thursday, May 8th. The oil and gas company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. Cenovus Energy had a return on equity of 9.56% and a net margin of 5.22%. The firm had revenue of $11.15 billion during the quarter, compared to analysts' expectations of $12.39 billion. During the same period in the previous year, the firm posted $0.62 EPS. As a group, research analysts expect that Cenovus Energy Inc will post 1.49 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently disclosed a dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $0.20 per share. This is a boost from Cenovus Energy's previous dividend of $0.11. This represents a dividend yield of 4.25%. The ex-dividend date was Friday, June 13th. Cenovus Energy's dividend payout ratio is currently 54.21%.

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.