Gateway Investment Advisers LLC Grows Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

Gateway Investment Advisers LLC raised its stake in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 175.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 103,509 shares of the oil and gas company's stock after buying an additional 65,921 shares during the period. Gateway Investment Advisers LLC's holdings in Cenovus Energy were worth $1,568,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Foundation Resource Management Inc. increased its position in shares of Cenovus Energy by 1.5% during the fourth quarter. Foundation Resource Management Inc. now owns 435,264 shares of the oil and gas company's stock worth $6,594,000 after buying an additional 6,509 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Cenovus Energy by 1,289.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 430,781 shares of the oil and gas company's stock worth $6,526,000 after acquiring an additional 399,787 shares in the last quarter. SkyView Investment Advisors LLC lifted its stake in shares of Cenovus Energy by 5.1% in the 3rd quarter. SkyView Investment Advisors LLC now owns 43,632 shares of the oil and gas company's stock valued at $730,000 after purchasing an additional 2,122 shares during the period. Virtu Financial LLC bought a new stake in shares of Cenovus Energy during the 3rd quarter valued at about $408,000. Finally, TD Private Client Wealth LLC grew its stake in Cenovus Energy by 3.2% during the third quarter. TD Private Client Wealth LLC now owns 40,194 shares of the oil and gas company's stock worth $672,000 after purchasing an additional 1,236 shares during the period. Institutional investors and hedge funds own 51.19% of the company's stock.

Analyst Ratings Changes

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

Cenovus Energy Stock Up 1.4 %

NYSE CVE traded up $0.22 during trading hours on Friday, hitting $15.06. The company's stock had a trading volume of 8,954,753 shares, compared to its average volume of 6,404,883. The company has a market capitalization of $27.48 billion, a PE ratio of 10.38 and a beta of 2.01. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. Cenovus Energy Inc. has a 52 week low of $14.20 and a 52 week high of $21.90. The company's 50-day simple moving average is $15.32 and its two-hundred day simple moving average is $17.09.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.08. The business had revenue of $14.20 billion for the quarter, compared to analysts' expectations 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 for the quarter was down 17.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. Research analysts anticipate that Cenovus Energy Inc. will post 1.45 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $0.133 dividend. 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 currently 35.17%.

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.