Maverick Capital Ltd. increased its position in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 135.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,869 shares of the oil and gas company's stock after buying an additional 19,513 shares during the period. Maverick Capital Ltd.'s holdings in Cenovus Energy were worth $471,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Bruce G. Allen Investments LLC purchased a new position in shares of Cenovus Energy in the first quarter valued at $38,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Cenovus Energy in the 1st quarter valued at about $42,000. Cromwell Holdings LLC lifted its position in shares of Cenovus Energy by 1,165.1% during the first quarter. Cromwell Holdings LLC now owns 3,049 shares of the oil and gas company's stock worth $42,000 after purchasing an additional 2,808 shares during the last quarter. Clarius Group LLC acquired a new position in Cenovus Energy in the first quarter worth about $150,000. Finally, SeaBridge Investment Advisors LLC increased its holdings in 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 during the last quarter. 51.19% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
CVE has been the topic of a number of recent research reports. Royal Bank Of Canada raised their target price on shares of Cenovus Energy from $25.00 to $26.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. National Bankshares raised shares of Cenovus Energy from a "sector perform" rating to an "outperform" rating in a research note on Friday, August 22nd. Wall Street Zen raised shares of Cenovus Energy from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Veritas downgraded shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, UBS Group reaffirmed a "buy" rating on shares of Cenovus Energy in a research report on Monday, August 25th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $23.33.
Check Out Our Latest Stock Report on Cenovus Energy
Cenovus Energy Stock Down 3.2%
NYSE CVE traded down $0.53 during trading on Friday, hitting $15.95. 13,087,844 shares of the company traded hands, compared to its average volume of 13,236,959. Cenovus Energy Inc has a 12 month low of $10.23 and a 12 month high of $18.61. The business has a fifty day simple moving average of $15.04 and a 200 day simple moving average of $13.81. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $28.69 billion, a P/E ratio of 15.79 and a beta of 0.99.
Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its quarterly earnings data on Thursday, July 31st. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.19. Cenovus Energy had a net margin of 5.18% and a return on equity of 9.06%. The business had revenue of $10.66 billion during the quarter, compared to the consensus estimate of $10.64 billion. During the same period in the prior year, the firm earned $0.62 EPS. Cenovus Energy's quarterly revenue was down 12.6% compared to the same quarter last year. As a group, sell-side analysts predict that Cenovus Energy Inc will post 1.49 EPS for the current year.
Cenovus Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 5.0%. The ex-dividend date is Monday, September 15th. Cenovus Energy's dividend payout ratio (DPR) is presently 56.44%.
Cenovus Energy Profile
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Free Report)
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.
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