Gotham Asset Management LLC Raises Stock Position in Cenovus Energy Inc. (NYSE:CVE)

Gotham Asset Management LLC boosted its stake in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 58.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 257,797 shares of the oil and gas company's stock after buying an additional 95,447 shares during the quarter. Gotham Asset Management LLC's holdings in Cenovus Energy were worth $3,906,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. 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 during the period. Sierra Ocean LLC purchased a new position in Cenovus Energy in the 4th quarter valued at approximately $67,000. Blue Trust Inc. raised its holdings in Cenovus Energy by 54.7% during the 4th quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company's stock valued at $72,000 after acquiring an additional 1,677 shares during the period. Natixis purchased a new stake in shares of Cenovus Energy during the fourth quarter worth $98,000. Finally, Black Maple Capital Management LP bought a new position in shares of Cenovus Energy in the fourth quarter worth $167,000. Hedge funds and other institutional investors own 51.19% of the company's stock.

Cenovus Energy Price Performance

CVE stock traded down $0.22 during midday trading on Tuesday, reaching $13.33. The company had a trading volume of 2,001,166 shares, compared to its average volume of 8,938,306. Cenovus Energy Inc. has a 1 year low of $10.23 and a 1 year high of $21.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95. The company has a market capitalization of $24.29 billion, a P/E ratio of 11.02 and a beta of 0.95. The firm has a 50-day moving average price of $12.69 and a 200-day moving average price of $14.18.

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

Cenovus Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.1269 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.51 annualized dividend and a yield of 3.81%. Cenovus Energy's payout ratio is currently 51.40%.

Analysts Set New Price Targets

A number of analysts recently issued reports on CVE shares. Scotiabank raised Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a report on Tuesday, April 15th. National Bankshares restated a "sector perform" rating on shares of Cenovus Energy in a research report on Friday, April 25th. The Goldman Sachs Group lowered their target price on shares of Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $25.00 price target on shares of Cenovus Energy in a research report on Friday, April 11th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.75.

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.