MidWestOne Financial Group Inc. Takes Position in Cenovus Energy Inc. (NYSE:CVE)

MidWestOne Financial Group Inc. bought a new position in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 46,790 shares of the oil and gas company's stock, valued at approximately $783,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CVE. Public Employees Retirement System of Ohio bought a new position in shares of Cenovus Energy during the 3rd quarter worth approximately $4,023,000. Y Intercept Hong Kong Ltd lifted its holdings in shares of Cenovus Energy by 42.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 113,706 shares of the oil and gas company's stock valued at $1,902,000 after purchasing an additional 33,992 shares during the last quarter. MML Investors Services LLC grew its stake in Cenovus Energy by 17.7% during the 3rd quarter. MML Investors Services LLC now owns 38,768 shares of the oil and gas company's stock worth $649,000 after buying an additional 5,828 shares during the last quarter. Anson Funds Management LP increased its position in 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 valued at $31,405,000 after buying an additional 1,226,221 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Cenovus Energy in the third quarter valued at about $496,000. Institutional investors own 51.19% of the company's stock.

Cenovus Energy Stock Performance

NYSE CVE traded up $0.21 during trading hours on Wednesday, reaching $15.33. The stock had a trading volume of 5,368,856 shares, compared to its average volume of 8,782,604. Cenovus Energy Inc. has a 52-week low of $14.69 and a 52-week high of $21.90. The stock has a fifty day moving average of $16.38 and a 200 day moving average of $17.92. 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 stock has a market cap of $28.00 billion, a P/E ratio of 10.57 and a beta of 2.02.

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

Cenovus Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.133 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.47%. This is a positive change from Cenovus Energy's previous quarterly dividend of $0.13. Cenovus Energy's dividend payout ratio (DPR) is presently 36.55%.

Wall Street Analyst Weigh In

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

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.