Assenagon Asset Management S.A. Has $6.53 Million Holdings in Cenovus Energy Inc. (NYSE:CVE)

Assenagon Asset Management S.A. raised its holdings in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 1,289.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 430,781 shares of the oil and gas company's stock after buying an additional 399,787 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Cenovus Energy were worth $6,526,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Truvestments Capital LLC acquired a new stake in Cenovus Energy during the third quarter valued at approximately $25,000. Blue Trust Inc. increased its position in shares of Cenovus Energy by 640.3% during the 3rd quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company's stock worth $51,000 after purchasing an additional 2,651 shares in the last quarter. SevenBridge Financial Group LLC bought a new position in Cenovus Energy during the 3rd quarter valued at about $162,000. Northwestern Mutual Wealth Management Co. boosted its position in Cenovus Energy by 8.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company's stock valued at $170,000 after buying an additional 643 shares in the last quarter. Finally, FCG Investment Co acquired a new stake in shares of Cenovus Energy during the third quarter worth approximately $211,000. Institutional investors and hedge funds own 51.19% of the company's stock.

Cenovus Energy Price Performance

Shares of CVE stock traded up $0.22 during trading on Monday, hitting $15.06. The company had a trading volume of 8,954,753 shares, compared to its average volume of 6,404,883. The firm has a market capitalization of $27.48 billion, a P/E ratio of 10.38 and a beta of 2.01. The stock's 50-day moving average price is $15.32 and its 200 day moving average price is $17.07. Cenovus Energy Inc. has a one year low of $14.20 and a one year high of $21.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.08. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $10.25 billion. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. The firm's revenue was down 17.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 EPS. Equities analysts expect that Cenovus Energy Inc. will post 1.45 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.133 per share. This represents a $0.53 dividend on an annualized basis and a yield of 3.53%. This is a positive change from Cenovus Energy's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, December 13th. Cenovus Energy's payout ratio is presently 35.17%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CVE shares. BMO Capital Markets decreased their price target on Cenovus Energy from $31.00 to $28.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. StockNews.com cut shares of Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. Royal Bank of Canada restated an "outperform" rating and issued a $28.00 price objective on shares of Cenovus Energy in a research report on Monday, January 6th. Finally, TD Securities downgraded shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $30.00.

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.