K.J. Harrison & Partners Inc Has $5.05 Million Position in Cenovus Energy Inc. (NYSE:CVE)

K.J. Harrison & Partners Inc lifted its stake in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 26.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 330,045 shares of the oil and gas company's stock after purchasing an additional 68,300 shares during the period. K.J. Harrison & Partners Inc's holdings in Cenovus Energy were worth $5,045,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its stake in Cenovus Energy by 6.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,162,999 shares of the oil and gas company's stock valued at $17,619,000 after acquiring an additional 72,450 shares during the period. DORCHESTER WEALTH MANAGEMENT Co raised its stake in Cenovus Energy by 1.9% in the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 222,071 shares of the oil and gas company's stock valued at $3,123,000 after acquiring an additional 4,160 shares during the period. Panview Capital Ltd bought a new stake in Cenovus Energy in the 4th quarter valued at $16,741,000. Bank of Stockton raised its stake in Cenovus Energy by 14.8% in the 4th quarter. Bank of Stockton now owns 14,796 shares of the oil and gas company's stock valued at $224,000 after acquiring an additional 1,902 shares during the period. Finally, Alberta Investment Management Corp raised its stake in Cenovus Energy by 10.1% in the 4th quarter. Alberta Investment Management Corp now owns 4,494,400 shares of the oil and gas company's stock valued at $68,094,000 after acquiring an additional 411,000 shares during the period. Institutional investors own 51.19% of the company's stock.

Wall Street Analyst Weigh In

CVE has been the topic of a number of research analyst reports. StockNews.com cut Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. Royal Bank of Canada decreased their price objective on Cenovus Energy from $26.00 to $25.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. Finally, National Bank Financial lowered Cenovus Energy from an "outperform" rating to a "sector perform" rating in a report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $29.25.

Cenovus Energy Stock Performance

NYSE CVE traded up $0.09 on Friday, reaching $13.84. The stock had a trading volume of 11,945,807 shares, compared to its average volume of 10,958,975. 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 fifty day moving average of $14.93 and a two-hundred day moving average of $16.13. Cenovus Energy Inc. has a 1-year low of $13.49 and a 1-year high of $21.90. The company has a market cap of $25.24 billion, a P/E ratio of 11.43 and a beta of 1.99.

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

Cenovus Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.1269 dividend. This represents a $0.51 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Friday, March 14th. Cenovus Energy's payout ratio is presently 40.50%.

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.