Cenovus Energy Inc. (NYSE:CVE) Stock Holdings Increased by Van ECK Associates Corp

Van ECK Associates Corp raised its stake in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 776,070 shares of the oil and gas company's stock after acquiring an additional 43,023 shares during the period. Van ECK Associates Corp's holdings in Cenovus Energy were worth $12,960,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. SVB Wealth LLC grew its position in shares of Cenovus Energy by 2.6% during the first quarter. SVB Wealth LLC now owns 19,710 shares of the oil and gas company's stock worth $394,000 after acquiring an additional 507 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Cenovus Energy by 8.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company's stock valued at $170,000 after acquiring an additional 643 shares in the last quarter. Cetera Advisors LLC boosted its stake 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 acquiring an additional 801 shares during the last quarter. First Hawaiian Bank grew its holdings in shares of Cenovus Energy by 1.6% during the second quarter. First Hawaiian Bank now owns 69,273 shares of the oil and gas company's stock worth $1,362,000 after buying an additional 1,071 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in Cenovus Energy by 12.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,496 shares of the oil and gas company's stock worth $226,000 after acquiring an additional 1,229 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company's stock.

Cenovus Energy Stock Performance

Cenovus Energy stock traded up $0.04 during mid-day trading on Wednesday, hitting $16.17. 9,659,411 shares of the company's stock traded hands, compared to its average volume of 8,890,320. 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 Inc. has a one year low of $14.69 and a one year high of $21.90. The firm has a 50 day moving average price of $17.09 and a 200 day moving average price of $18.79. The company has a market cap of $29.58 billion, a PE ratio of 11.15 and a beta of 2.05.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its earnings results on Thursday, October 31st. The oil and gas company reported $0.42 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 firm had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $10.25 billion. During the same quarter in the previous year, the company earned $0.72 earnings per share. The firm's quarterly revenue was down 17.9% compared to the same quarter last year. On average, equities analysts forecast that Cenovus Energy Inc. will post 1.63 EPS for the current year.

Cenovus Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.133 dividend. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.29%. This is a boost from Cenovus Energy's previous quarterly dividend of $0.13. The ex-dividend date is Friday, December 13th. Cenovus Energy's payout ratio is presently 36.55%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CVE. TD Securities cut shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 1st. StockNews.com lowered Cenovus Energy from a "buy" rating to a "hold" rating in a research report on Tuesday. Scotiabank decreased their target price on shares of Cenovus Energy from $35.00 to $34.00 and set a "sector outperform" rating for the company in a research note on Friday, July 12th. Finally, 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $30.00.

Cenovus Energy 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.