CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Has $5.21 Million Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 30.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 344,000 shares of the oil and gas company's stock after buying an additional 80,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings in Cenovus Energy were worth $5,212,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Truvestments Capital LLC bought a new position in shares of Cenovus Energy in the 3rd quarter worth $25,000. Blue Trust Inc. boosted its holdings in Cenovus Energy by 640.3% during the third quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company's stock worth $51,000 after buying an additional 2,651 shares during the last quarter. SevenBridge Financial Group LLC acquired a new position in shares of Cenovus Energy during the 3rd quarter worth about $162,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Cenovus Energy by 8.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company's stock valued at $170,000 after acquiring an additional 643 shares during the last quarter. Finally, Empirical Asset Management LLC acquired a new stake in shares of Cenovus Energy in the 4th quarter valued at approximately $174,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Stock Down 1.4 %

CVE traded down $0.21 during trading on Friday, hitting $14.81. The company had a trading volume of 11,032,305 shares, compared to its average volume of 7,520,853. The firm's 50-day moving average price is $15.24 and its 200 day moving average price is $16.94. The company has a market capitalization of $27.02 billion, a PE ratio of 10.21 and a beta of 2.01. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. Cenovus Energy Inc. has a one year low of $14.20 and a one year high of $21.90.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its quarterly earnings data 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. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The company had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $10.25 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. Cenovus Energy's revenue for the quarter was down 17.9% compared to the same quarter last year. As a group, equities analysts expect that Cenovus Energy Inc. will post 1.4 earnings per share for the current year.

Cenovus Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a dividend of $0.133 per share. 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 3.59%. The ex-dividend date was Friday, December 13th. Cenovus Energy's dividend payout ratio (DPR) is currently 35.17%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CVE shares. Royal Bank of Canada restated an "outperform" rating and set a $28.00 price objective 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 report on Friday, November 1st. TD Securities downgraded Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 1st. Finally, StockNews.com cut Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $30.00.

Cenovus Energy Company 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.