Two Sigma Advisers LP Grows Stake in Cenovus Energy Inc. (NYSE:CVE)

Two Sigma Advisers LP lifted its stake in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 44.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,284,600 shares of the oil and gas company's stock after acquiring an additional 393,100 shares during the period. Two Sigma Advisers LP owned 0.07% of Cenovus Energy worth $21,491,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Cetera Advisors LLC increased its position in shares of Cenovus Energy by 5.2% during the first quarter. Cetera Advisors LLC now owns 16,347 shares of the oil and gas company's stock valued at $327,000 after purchasing an additional 801 shares during the period. Keystone Wealth Services LLC acquired a new stake in shares of Cenovus Energy during the second quarter worth about $236,000. M&G Plc raised its position in Cenovus Energy by 2.4% in the 2nd quarter. M&G Plc now owns 3,496,370 shares of the oil and gas company's stock valued at $69,013,000 after buying an additional 82,840 shares during the last quarter. Lodestone Wealth Management LLC raised its position in Cenovus Energy by 101.0% in the 2nd quarter. Lodestone Wealth Management LLC now owns 58,342 shares of the oil and gas company's stock valued at $1,147,000 after buying an additional 29,319 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in Cenovus Energy by 12.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,496 shares of the oil and gas company's stock valued at $226,000 after buying an additional 1,229 shares during the last quarter. 51.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Cenovus Energy Price Performance

NYSE CVE traded down $0.62 during trading hours on Friday, reaching $15.02. 6,832,867 shares of the stock traded hands, compared to its average volume of 7,938,840. The company has a market cap of $27.43 billion, a price-to-earnings ratio of 10.36 and a beta of 2.02. The stock has a 50 day simple moving average of $16.49 and a two-hundred day simple moving average of $18.02. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95. Cenovus Energy Inc. has a 1 year low of $14.69 and a 1 year high of $21.90.

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

Cenovus Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.133 per share. This is an increase from Cenovus Energy's previous quarterly dividend of $0.13. The ex-dividend date is Friday, December 13th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.54%. Cenovus Energy's payout ratio is presently 36.55%.

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.