Lighthouse Investment Partners LLC purchased a new stake in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 300,000 shares of the oil and gas company's stock, valued at approximately $4,545,000.
A number of other large investors have also recently modified their holdings of CVE. Farther Finance Advisors LLC raised its holdings in Cenovus Energy by 104.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company's stock valued at $25,000 after buying an additional 851 shares during the last quarter. Sierra Ocean LLC bought a new position in shares of Cenovus Energy in the fourth quarter worth approximately $67,000. Blue Trust Inc. increased its position in shares of Cenovus Energy by 54.7% during the fourth 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 in the last quarter. Natixis bought a new position in Cenovus Energy in the 4th quarter valued at approximately $98,000. Finally, Black Maple Capital Management LP purchased a new position in shares of Cenovus Energy in the fourth quarter worth $167,000. Institutional investors own 51.19% of the company's stock.
Cenovus Energy Price Performance
Shares of NYSE CVE traded up $0.08 during mid-day trading on Friday, reaching $13.72. The company's stock had a trading volume of 12,829,660 shares, compared to its average volume of 8,956,426. The stock has a fifty day moving average of $12.67 and a two-hundred day moving average of $14.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95. Cenovus Energy Inc. has a 52 week low of $10.23 and a 52 week high of $21.08. The firm has a market capitalization of $25.00 billion, a PE ratio of 11.33 and a beta of 0.95.
Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.03. The company had revenue of $11.15 billion during the quarter, compared to analysts' expectations of $12.39 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. During the same period last year, the company posted $0.62 earnings per share. As a group, sell-side analysts anticipate that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.
Cenovus Energy Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.1269 per share. The ex-dividend date was Friday, March 14th. This represents a $0.51 annualized dividend and a yield of 3.70%. Cenovus Energy's dividend payout ratio (DPR) is currently 51.40%.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. The Goldman Sachs Group lowered their price objective on shares of Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Scotiabank upgraded shares of Cenovus Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. Veritas downgraded shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. National Bank Financial cut Cenovus Energy from an "outperform" rating to a "sector perform" rating in a report on Friday, February 21st. Finally, Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a report on Tuesday, April 15th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $25.75.
Check Out Our Latest Stock Analysis on CVE
About Cenovus Energy
(
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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