Polar Asset Management Partners Inc. Buys 55,780 Shares of Cenovus Energy Inc. (NYSE:CVE)

Polar Asset Management Partners Inc. increased its stake in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 79.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,637 shares of the oil and gas company's stock after buying an additional 55,780 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Cenovus Energy were worth $1,903,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Toronto Dominion Bank boosted its holdings in shares of Cenovus Energy by 91.7% in the 4th quarter. Toronto Dominion Bank now owns 7,233,491 shares of the oil and gas company's stock valued at $109,515,000 after buying an additional 3,460,311 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Cenovus Energy by 105.0% in the 4th quarter. Franklin Resources Inc. now owns 4,337,551 shares of the oil and gas company's stock valued at $65,667,000 after buying an additional 2,221,549 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Cenovus Energy by 4.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,226,155 shares of the oil and gas company's stock valued at $79,176,000 after acquiring an additional 245,302 shares during the period. Amundi raised its stake in Cenovus Energy by 1.7% in the 4th quarter. Amundi now owns 4,678,976 shares of the oil and gas company's stock valued at $71,775,000 after acquiring an additional 77,548 shares during the period. Finally, Alberta Investment Management Corp raised its stake in Cenovus Energy by 10.1% in the 4th quarter. Alberta Investment Management Corp now owns 4,494,400 shares of the oil and gas company's stock valued at $68,094,000 after acquiring an additional 411,000 shares during the period. Institutional investors and hedge funds own 51.19% of the company's stock.

Cenovus Energy Stock Performance

CVE stock traded down $0.37 during trading hours on Friday, hitting $13.18. 10,733,240 shares of the stock were exchanged, compared to its average volume of 9,217,575. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $24.02 billion, a P/E ratio of 10.89 and a beta of 0.95. The company has a 50-day simple moving average of $12.61 and a two-hundred day simple moving average of $14.03. Cenovus Energy Inc. has a 12 month low of $10.23 and a 12 month high of $20.89.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its quarterly earnings data on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.03. The firm had revenue of $11.15 billion for the quarter, compared to analysts' expectations of $12.39 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. During the same quarter last year, the business earned $0.62 EPS. On average, analysts forecast that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on CVE. The Goldman Sachs Group dropped their price target on Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Veritas cut Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. National Bank Financial cut Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. National Bankshares restated a "sector perform" rating on shares of Cenovus Energy in a research note on Friday, April 25th. Finally, Morgan Stanley restated an "overweight" rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $25.75.

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.