Alberta Investment Management Corp lifted its position in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 10.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,494,400 shares of the oil and gas company's stock after acquiring an additional 411,000 shares during the quarter. Alberta Investment Management Corp owned 0.25% of Cenovus Energy worth $68,094,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Smead Capital Management Inc. lifted its stake in Cenovus Energy by 39.3% in the 3rd quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company's stock valued at $257,831,000 after buying an additional 4,351,960 shares in the last quarter. Bridgewater Associates LP purchased a new position in Cenovus Energy in the 3rd quarter valued at about $33,995,000. Anson Funds Management LP lifted its stake in Cenovus Energy by 188.2% in the 3rd quarter. Anson Funds Management LP now owns 1,877,800 shares of the oil and gas company's stock valued at $31,405,000 after buying an additional 1,226,221 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Cenovus Energy by 23.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,980,853 shares of the oil and gas company's stock valued at $83,330,000 after buying an additional 952,477 shares in the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. lifted its stake in Cenovus Energy by 33.3% in the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,163,034 shares of the oil and gas company's stock valued at $52,896,000 after buying an additional 789,569 shares in the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have commented on CVE. StockNews.com downgraded shares of Cenovus Energy from a "buy" rating to a "hold" rating in a report on Saturday, December 28th. National Bank Financial downgraded shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a report on Friday. Royal Bank of Canada cut their price objective on shares of Cenovus Energy from $26.00 to $25.00 and set an "outperform" rating for the company in a report on Friday. Finally, BMO Capital Markets cut their price objective on shares of Cenovus Energy from $31.00 to $28.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $29.25.
Read Our Latest Research Report on CVE
Cenovus Energy Trading Down 4.5 %
Shares of NYSE CVE traded down $0.69 during midday trading on Friday, reaching $14.61. 13,405,106 shares of the stock were exchanged, compared to its average volume of 10,705,961. The company has a 50 day simple moving average of $14.99 and a 200 day simple moving average of $16.29. The stock has a market capitalization of $26.64 billion, a P/E ratio of 12.07 and a beta of 1.99. 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 Inc. has a twelve month low of $13.76 and a twelve month high of $21.90.
Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.27). The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. As a group, equities analysts expect that Cenovus Energy Inc. will post 1.49 earnings per share for the current year.
Cenovus Energy Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.1269 per share. The ex-dividend date is Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 3.47%. Cenovus Energy's dividend payout ratio is currently 42.15%.
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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