Y Intercept Hong Kong Ltd Buys 33,992 Shares of Cenovus Energy Inc. (NYSE:CVE)

Y Intercept Hong Kong Ltd increased its holdings in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 42.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,706 shares of the oil and gas company's stock after purchasing an additional 33,992 shares during the period. Y Intercept Hong Kong Ltd's holdings in Cenovus Energy were worth $1,902,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. MML Investors Services LLC grew its holdings in Cenovus Energy by 17.7% during the third quarter. MML Investors Services LLC now owns 38,768 shares of the oil and gas company's stock valued at $649,000 after purchasing an additional 5,828 shares during the last quarter. Anson Funds Management LP boosted its holdings in shares of Cenovus Energy by 188.2% during the 3rd quarter. Anson Funds Management LP now owns 1,877,800 shares of the oil and gas company's stock worth $31,405,000 after buying an additional 1,226,221 shares during the period. XTX Topco Ltd acquired a new position in Cenovus Energy in the 3rd quarter valued at $496,000. Wahed Invest LLC grew its stake in Cenovus Energy by 5.6% in the 3rd quarter. Wahed Invest LLC now owns 16,489 shares of the oil and gas company's stock valued at $276,000 after buying an additional 875 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in Cenovus Energy by 44.1% in the 3rd quarter. Two Sigma Advisers LP now owns 1,284,600 shares of the oil and gas company's stock worth $21,491,000 after acquiring an additional 393,100 shares during the period. 51.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVE has been the topic of several research analyst reports. TD Securities downgraded Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 1st. StockNews.com lowered Cenovus Energy from a "buy" rating to a "hold" rating in a report on Thursday, December 5th. Finally, BMO Capital Markets cut their price target on Cenovus Energy from $31.00 to $28.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $30.00.

Cenovus Energy Stock Performance

CVE traded up $0.21 on Wednesday, hitting $15.33. 5,368,856 shares of the stock traded hands, compared to its average volume of 8,782,604. The business has a fifty day moving average price of $16.38 and a two-hundred day moving average price of $17.92. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $28.00 billion, a PE ratio of 10.57 and a beta of 2.02. Cenovus Energy Inc. has a 52 week low of $14.69 and a 52 week high of $21.90.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 12.88% and a net margin of 6.72%. Cenovus Energy's quarterly revenue was down 17.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.72 earnings per share. On average, research analysts predict that Cenovus Energy Inc. will post 1.48 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.133 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.47%. This is an increase from Cenovus Energy's previous quarterly dividend of $0.13. The ex-dividend date is Friday, December 13th. Cenovus Energy's dividend payout ratio (DPR) is presently 36.55%.

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.