Panview Capital Ltd Buys Shares of 1,105,000 Cenovus Energy Inc. (NYSE:CVE)

Panview Capital Ltd acquired a new stake in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,105,000 shares of the oil and gas company's stock, valued at approximately $16,741,000. Cenovus Energy makes up approximately 3.6% of Panview Capital Ltd's portfolio, making the stock its 9th biggest position. Panview Capital Ltd owned 0.06% of Cenovus Energy at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Alberta Investment Management Corp grew its holdings in Cenovus Energy by 10.1% during 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 purchasing an additional 411,000 shares in the last quarter. Smead Capital Management Inc. grew its stake in shares of Cenovus Energy by 39.3% during the third 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 in the last quarter. HITE Hedge Asset Management LLC purchased a new stake in shares of Cenovus Energy during the third quarter worth about $11,569,000. Entropy Technologies LP acquired a new position in shares of Cenovus Energy in the third quarter worth about $3,472,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Cenovus Energy by 1,289.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 430,781 shares of the oil and gas company's stock valued at $6,526,000 after purchasing an additional 399,787 shares during the last quarter. Hedge funds and other institutional investors own 51.19% of the company's stock.

Cenovus Energy Stock Performance

CVE stock traded down $0.15 during trading on Wednesday, hitting $13.92. 12,050,692 shares of the company's stock traded hands, compared to its average volume of 10,854,475. The stock has a market capitalization of $25.38 billion, a price-to-earnings ratio of 11.50 and a beta of 1.99. Cenovus Energy Inc. has a 52 week low of $13.76 and a 52 week high of $21.90. The stock has a fifty day moving average price of $14.97 and a two-hundred day moving average price of $16.22. 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 (NYSE:CVE - Get Free Report) TSE: CVE last released 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 return on equity of 10.73% and a net margin of 5.82%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $11.08 billion. As a group, equities analysts anticipate that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.1269 per share. The ex-dividend date is Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a yield of 3.65%. Cenovus Energy's dividend payout ratio is currently 40.50%.

Analyst Ratings Changes

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

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.