207,542 Shares in Cenovus Energy Inc. (NYSE:CVE) Bought by Entropy Technologies LP

Entropy Technologies LP purchased a new position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 207,542 shares of the oil and gas company's stock, valued at approximately $3,472,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position 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 valued at $51,000 after acquiring an additional 2,651 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Cenovus Energy by 8.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company's stock worth $170,000 after buying an additional 643 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Cenovus Energy during the first quarter valued at approximately $205,000. Everpar Advisors LLC purchased a new stake in Cenovus Energy during the second quarter valued at approximately $211,000. Finally, FCG Investment Co bought a new position in Cenovus Energy in the third quarter worth approximately $211,000. Institutional investors own 51.19% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. StockNews.com lowered Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. BMO Capital Markets decreased their price objective on Cenovus Energy from $31.00 to $28.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Finally, TD Securities downgraded Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.00.

Cenovus Energy Price Performance

CVE stock traded down $0.29 during midday trading on Tuesday, hitting $15.74. The company's stock had a trading volume of 9,130,684 shares, compared to its average volume of 8,853,949. The firm has a market capitalization of $28.79 billion, a price-to-earnings ratio of 10.84 and a beta of 2.05. 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 12 month low of $14.69 and a 12 month high of $21.90. The company has a 50 day moving average of $16.89 and a two-hundred day moving average of $18.64.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its earnings results on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.08. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $10.25 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. Cenovus Energy's revenue for the quarter was down 17.9% on a year-over-year basis. On average, analysts expect that Cenovus Energy Inc. will post 1.5 EPS for the current year.

Cenovus Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.133 per share. This is an increase from Cenovus Energy's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.53 dividend on an annualized basis and a yield of 3.38%. Cenovus Energy's dividend payout ratio is presently 36.55%.

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.