Investors Research Corp Acquires Shares of 74,150 Cenovus Energy Inc. (NYSE:CVE)

Investors Research Corp bought a new stake in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 74,150 shares of the oil and gas company's stock, valued at approximately $1,123,000.

A number of other hedge funds have also made changes to their positions in CVE. Smead Capital Management Inc. grew 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 acquiring an additional 4,351,960 shares during the last quarter. Bridgewater Associates LP purchased a new position in shares of Cenovus Energy during the 3rd quarter worth approximately $33,995,000. Anson Funds Management LP raised its position 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 purchasing an additional 1,226,221 shares during the last quarter. Panview Capital Ltd purchased a new stake in Cenovus Energy in the 4th quarter valued at approximately $16,741,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Cenovus Energy by 273.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,440,237 shares of the oil and gas company's stock valued at $21,821,000 after buying an additional 1,054,483 shares during the last quarter. Hedge funds and other institutional investors own 51.19% of the company's stock.

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Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Royal Bank of Canada cut their target price on shares of Cenovus Energy from $26.00 to $25.00 and set an "outperform" rating for the company in a research note on Friday, February 21st. StockNews.com cut shares of Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. Finally, National Bank Financial cut Cenovus Energy from an "outperform" rating to a "sector perform" rating in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Cenovus Energy has a consensus rating of "Moderate Buy" and a consensus target price of $29.25.

Cenovus Energy Stock Down 1.2 %

Shares of NYSE:CVE traded down $0.16 during mid-day trading on Thursday, hitting $13.07. 19,106,209 shares of the company traded hands, compared to its average volume of 11,853,709. The firm has a market cap of $23.83 billion, a P/E ratio of 10.80 and a beta of 1.99. Cenovus Energy Inc. has a 52-week low of $12.07 and a 52-week high of $21.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. The firm's 50 day simple moving average is $14.59 and its 200 day simple moving average is $15.76.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings data on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.27). Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $11.08 billion. On average, equities analysts anticipate that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.1269 dividend. This represents a $0.51 annualized dividend and a yield of 3.88%. The ex-dividend date is Friday, March 14th. Cenovus Energy's dividend payout ratio is currently 40.50%.

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.