Lloyd Harbor Capital Management LLC Takes $9.09 Million Position in Cenovus Energy Inc. (NYSE:CVE)

Lloyd Harbor Capital Management LLC bought a new position in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 600,000 shares of the oil and gas company's stock, valued at approximately $9,090,000. Cenovus Energy makes up approximately 5.9% of Lloyd Harbor Capital Management LLC's portfolio, making the stock its 5th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors grew its position in Cenovus Energy by 15.8% in the fourth quarter. Capital World Investors now owns 191,412,590 shares of the oil and gas company's stock valued at $2,901,131,000 after acquiring an additional 26,127,617 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Cenovus Energy by 48.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 13,001,002 shares of the oil and gas company's stock valued at $196,935,000 after acquiring an additional 4,220,663 shares during the period. Franklin Resources Inc. raised its position in Cenovus Energy by 105.0% during the 4th quarter. Franklin Resources Inc. now owns 4,337,551 shares of the oil and gas company's stock worth $65,667,000 after purchasing an additional 2,221,549 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Cenovus Energy by 29.2% in the fourth quarter. Geode Capital Management LLC now owns 8,287,334 shares of the oil and gas company's stock worth $128,783,000 after acquiring an additional 1,873,415 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Cenovus Energy by 36.3% during the 4th quarter. Renaissance Technologies LLC now owns 4,378,894 shares of the oil and gas company's stock worth $66,340,000 after acquiring an additional 1,166,294 shares during the period. Institutional investors own 51.19% of the company's stock.

Cenovus Energy Price Performance

Shares of NYSE CVE traded down $0.17 during mid-day trading on Thursday, reaching $13.64. 10,833,410 shares of the company were exchanged, compared to its average volume of 8,932,503. The company's 50 day moving average price is $12.64 and its 200 day moving average price is $14.27. Cenovus Energy Inc. has a 52 week low of $10.23 and a 52 week high of $21.08. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $24.86 billion, a PE ratio of 11.27 and a beta of 0.95.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings data on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. The firm had revenue of $11.15 billion during the quarter, compared to analyst estimates 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 in the previous year, the business posted $0.62 EPS. Sell-side analysts forecast that Cenovus Energy Inc. will post 1.49 earnings per share 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 issued a $0.1269 dividend. This represents a $0.51 annualized dividend and a yield of 3.72%. The ex-dividend date was Friday, March 14th. Cenovus Energy's dividend payout ratio (DPR) is currently 51.40%.

Wall Street Analysts Forecast Growth

CVE has been the subject of several recent analyst reports. National Bank Financial lowered shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. Scotiabank upgraded shares of Cenovus Energy to a "strong-buy" rating in a research note on Wednesday, March 19th. Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a research report on Tuesday, April 15th. Royal Bank of Canada reiterated an "outperform" rating and issued a $25.00 target price on shares of Cenovus Energy in a research note on Friday, April 11th. Finally, The Goldman Sachs Group reduced their price target on Cenovus Energy from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Four equities 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.75.

About Cenovus Energy

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.