Cenovus Energy Inc. (NYSE:CVE) Position Boosted by Recurrent Investment Advisors LLC

Recurrent Investment Advisors LLC boosted its position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 11.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,100,212 shares of the oil and gas company's stock after buying an additional 426,002 shares during the period. Cenovus Energy makes up about 6.9% of Recurrent Investment Advisors LLC's holdings, making the stock its 2nd biggest position. Recurrent Investment Advisors LLC owned approximately 0.22% of Cenovus Energy worth $69,764,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CVE. Assenagon Asset Management S.A. grew its stake in shares of Cenovus Energy by 22,396.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 7,429,036 shares of the oil and gas company's stock worth $146,054,000 after purchasing an additional 7,396,013 shares during the period. 1832 Asset Management L.P. lifted its position in shares of Cenovus Energy by 81.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 12,538,499 shares of the oil and gas company's stock valued at $246,507,000 after acquiring an additional 5,613,320 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Cenovus Energy by 32,791.8% during the 2nd quarter. Acadian Asset Management LLC now owns 4,440,391 shares of the oil and gas company's stock worth $87,246,000 after acquiring an additional 4,426,891 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Cenovus Energy by 2,236.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 4,610,779 shares of the oil and gas company's stock worth $90,608,000 after acquiring an additional 4,413,405 shares during the period. Finally, Smead Capital Management Inc. increased 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 purchasing an additional 4,351,960 shares in the last quarter. Hedge funds and other institutional investors own 51.19% of the company's stock.

Analyst Upgrades and Downgrades

CVE has been the topic of a number of research analyst reports. BMO Capital Markets decreased their target price 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 lowered shares of Cenovus Energy from a "buy" rating to a "hold" rating in a research report on Thursday. Finally, TD Securities cut 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $30.00.

Cenovus Energy Trading Up 0.9 %

CVE stock traded up $0.14 during midday trading on Thursday, hitting $15.64. The stock had a trading volume of 3,789,703 shares, compared to its average volume of 8,825,479. The company's 50-day moving average price is $16.53 and its 200 day moving average price is $18.09. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95. The firm has a market cap of $28.57 billion, a PE ratio of 10.85 and a beta of 2.02. Cenovus Energy Inc. has a 12-month low of $14.69 and a 12-month high of $21.90.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.08. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $10.25 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. The business's revenue for the quarter was down 17.9% on a year-over-year basis. On average, equities research analysts predict that Cenovus Energy Inc. will post 1.48 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.133 dividend. The ex-dividend date is Friday, December 13th. This is a boost from Cenovus Energy's previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a dividend yield of 3.40%. Cenovus Energy's dividend payout ratio (DPR) is currently 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.