Tejara Capital Ltd purchased a new position in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 45,993 shares of the oil and gas company's stock, valued at approximately $697,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in shares of Cenovus Energy in the 3rd quarter worth about $25,000. Farther Finance Advisors LLC increased its position in shares of Cenovus Energy by 104.9% in the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 851 shares during the last quarter. Sierra Ocean LLC bought a new stake in shares of Cenovus Energy in the 4th quarter worth about $67,000. Blue Trust Inc. increased its position in shares of Cenovus Energy by 54.7% in the 4th quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company's stock worth $72,000 after purchasing an additional 1,677 shares during the last quarter. Finally, SevenBridge Financial Group LLC bought a new stake in shares of Cenovus Energy in the 3rd quarter worth about $162,000. Hedge funds and other institutional investors own 51.19% of the company's stock.
Cenovus Energy Stock Performance
Cenovus Energy stock traded up $0.14 during midday trading on Friday, reaching $14.17. 11,163,597 shares of the stock traded hands, compared to its average volume of 8,466,211. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The firm has a fifty day moving average price of $14.35 and a two-hundred day moving average price of $15.53. The firm has a market cap of $25.82 billion, a price-to-earnings ratio of 11.71 and a beta of 1.99. Cenovus Energy Inc. has a fifty-two week low of $12.08 and a fifty-two week high of $21.90.
Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.27). The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. On average, equities research analysts forecast that Cenovus Energy Inc. will post 1.49 earnings per share for the current year.
Cenovus Energy Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.1269 per share. This represents a $0.51 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Friday, March 14th. Cenovus Energy's payout ratio is 40.50%.
Analyst Ratings Changes
CVE has been the subject of several research reports. Royal Bank of Canada decreased their price target 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. National Bank Financial lowered shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a report on Friday, February 21st. Finally, StockNews.com lowered shares of Cenovus Energy from a "buy" rating to a "hold" rating in a report on Saturday, December 28th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Cenovus Energy currently has an average rating of "Moderate Buy" and a consensus price target of $29.25.
Get Our Latest Research Report on Cenovus Energy
About Cenovus Energy
(
Free Report)
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.
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