65,800 Shares in Cenovus Energy Inc $CVE Bought by PDT Partners LLC

Key Points

• PDT Partners LLC has acquired a new stake in Cenovus Energy Inc valued at approximately $915,000 by purchasing 65,800 shares during the first quarter.
• Cenovus Energy reported $0.33 earnings per share (EPS) for the last quarter, exceeding analysts' expectations, with a net margin of 5.18% and a revenue of $10.66 billion.
• The company announced a quarterly dividend of $0.20 payable on September 29th, representing an annualized dividend yield of 4.8%.

PDT Partners LLC purchased a new position in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 65,800 shares of the oil and gas company's stock, valued at approximately $915,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Northern Trust Corp boosted its holdings in Cenovus Energy by 50.0% during the 4th quarter. Northern Trust Corp now owns 946,644 shares of the oil and gas company's stock valued at $14,342,000 after acquiring an additional 315,339 shares during the period. Ameriprise Financial Inc. boosted 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 worth $1,400,000 after buying an additional 25,377 shares during the period. Balyasny Asset Management L.P. increased its stake in shares of Cenovus Energy by 69.2% in 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 purchasing an additional 185,458 shares during the period. Centiva Capital LP boosted its holdings in shares of Cenovus Energy by 153.4% in the 4th quarter. Centiva Capital LP now owns 140,505 shares of the oil and gas company's stock worth $2,129,000 after acquiring an additional 85,052 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Cenovus Energy by 8.7% in the 4th quarter. Cetera Investment Advisers now owns 46,096 shares of the oil and gas company's stock valued at $698,000 after buying an additional 3,676 shares in the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVE. National Bankshares upgraded Cenovus Energy from a "sector perform" rating to an "outperform" rating in a report on Friday, August 22nd. National Bank Financial upgraded shares of Cenovus Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, August 22nd. Jefferies Financial Group reaffirmed a "buy" rating on shares of Cenovus Energy in a research note on Tuesday, September 2nd. Wall Street Zen raised shares of Cenovus Energy from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Finally, Royal Bank Of Canada upped their price objective on shares of Cenovus Energy from $25.00 to $26.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $23.33.

Cenovus Energy Price Performance

CVE stock traded up $0.06 during midday trading on Monday, reaching $16.01. 8,994,683 shares of the stock were exchanged, compared to its average volume of 12,198,431. Cenovus Energy Inc has a 52 week low of $10.23 and a 52 week high of $18.61. The company has a fifty day moving average price of $15.04 and a 200 day moving average price of $13.80. The stock has a market capitalization of $28.79 billion, a PE ratio of 15.85 and a beta of 0.99. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 0.78.

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

Cenovus Energy Announces Dividend

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

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.