Two Sigma Investments LP purchased a new stake in Cenovus Energy (NYSE:CVE) (TSE:CVE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 45,072 shares of the oil and gas company’s stock, valued at approximately $412,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. QS Investors LLC bought a new stake in shares of Cenovus Energy in the fourth quarter worth $121,000. ING Groep NV bought a new stake in shares of Cenovus Energy in the fourth quarter worth $176,000. Stifel Financial Corp lifted its position in shares of Cenovus Energy by 29.1% in the third quarter. Stifel Financial Corp now owns 29,426 shares of the oil and gas company’s stock worth $293,000 after purchasing an additional 6,626 shares in the last quarter. Timber Hill LLC lifted its position in shares of Cenovus Energy by 169.2% in the fourth quarter. Timber Hill LLC now owns 30,616 shares of the oil and gas company’s stock worth $280,000 after purchasing an additional 19,242 shares in the last quarter. Finally, Cutler Capital Management LLC lifted its position in shares of Cenovus Energy by 152.0% in the fourth quarter. Cutler Capital Management LLC now owns 31,500 shares of the oil and gas company’s stock worth $287,000 after purchasing an additional 19,000 shares in the last quarter. 74.40% of the stock is currently owned by hedge funds and other institutional investors.
CVE has been the topic of a number of research reports. Tudor Pickering raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, March 28th. Morgan Stanley cut their price objective on shares of Cenovus Energy from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Monday. Zacks Investment Research raised shares of Cenovus Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Desjardins reissued a “hold” rating on shares of Cenovus Energy in a research report on Friday, January 12th. Finally, Bank of America initiated coverage on shares of Cenovus Energy in a research report on Thursday, April 5th. They issued a “neutral” rating and a $9.00 price objective on the stock. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $13.36.
Shares of CVE opened at $9.91 on Tuesday. The firm has a market cap of $12,410.78, a P/E ratio of 168.33, a PEG ratio of 12.95 and a beta of 0.71. Cenovus Energy has a 1-year low of $6.76 and a 1-year high of $11.52. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.82 and a current ratio of 1.13.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Thursday, February 15th. The oil and gas company reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.45). The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.95 billion. Cenovus Energy had a return on equity of 0.53% and a net margin of 18.92%. During the same quarter in the previous year, the firm posted $0.39 earnings per share. analysts predict that Cenovus Energy will post 0.13 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were issued a dividend of $0.0398 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.60%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Wednesday, March 14th. Cenovus Energy’s payout ratio is presently -800.00%.
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Cenovus Energy Profile
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.
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