Cenovus Energy Inc (NYSE:CVE) Shares Acquired by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC increased its holdings in Cenovus Energy Inc by 595.1% during the first quarter, owning 95,663 shares valued at $1,331,000.
• Cenovus Energy reported a $0.33 EPS for its quarterly earnings, exceeding the consensus estimate of $0.14, despite a 12.6% revenue drop year-over-year.
• The company recently announced an increased dividend of $0.20 per share, representing a significant yield of 425.0%.

Headlands Technologies LLC boosted its stake in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 595.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,663 shares of the oil and gas company's stock after purchasing an additional 81,900 shares during the quarter. Headlands Technologies LLC's holdings in Cenovus Energy were worth $1,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in CVE. Public Employees Retirement System of Ohio increased its position in shares of Cenovus Energy by 0.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 241,113 shares of the oil and gas company's stock valued at $3,653,000 after buying an additional 762 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Cenovus Energy by 0.7% in the fourth quarter. Alliancebernstein L.P. now owns 106,532 shares of the oil and gas company's stock valued at $1,614,000 after buying an additional 779 shares in the last quarter. Guggenheim Capital LLC increased its position in shares of Cenovus Energy by 4.5% in the fourth quarter. Guggenheim Capital LLC now owns 20,974 shares of the oil and gas company's stock valued at $318,000 after buying an additional 908 shares in the last quarter. Meridian Investment Counsel Inc. increased its position in shares of Cenovus Energy by 4.9% in the first quarter. Meridian Investment Counsel Inc. now owns 21,275 shares of the oil and gas company's stock valued at $296,000 after buying an additional 1,000 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC increased its position in shares of Cenovus Energy by 10.0% in the first quarter. SeaBridge Investment Advisors LLC now owns 11,000 shares of the oil and gas company's stock valued at $153,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. National Bankshares restated a "sector perform" rating on shares of Cenovus Energy in a research report on Friday, April 25th. Veritas lowered Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Morgan Stanley reaffirmed an "overweight" rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. Wall Street Zen raised Cenovus Energy from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Finally, Royal Bank Of Canada lifted their price target on Cenovus Energy from $25.00 to $26.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $23.33.

Cenovus Energy Trading Up 1.8%

NYSE CVE traded up $0.27 on Tuesday, reaching $14.77. 12,520,388 shares of the company were exchanged, compared to its average volume of 11,962,310. The business's fifty day moving average price is $14.32 and its 200 day moving average price is $13.68. The stock has a market capitalization of $26.67 billion, a P/E ratio of 14.64 and a beta of 0.97. 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 Inc has a fifty-two week low of $10.23 and a fifty-two week high of $20.03.

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

Cenovus Energy Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $0.20 per share. This represents a yield of 425.0%. This is an increase from Cenovus Energy's previous dividend of $0.11. The ex-dividend date of this dividend was Friday, June 13th. Cenovus Energy's dividend payout ratio is presently 57.43%.

Cenovus Energy Company 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.