Duality Advisers LP Has $871,000 Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

Duality Advisers LP reduced its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 28.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,334 shares of the oil and gas company’s stock after selling 20,422 shares during the quarter. Duality Advisers LP’s holdings in Cenovus Energy were worth $871,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. CWM LLC lifted its position in shares of Cenovus Energy by 19.2% during the 3rd quarter. CWM LLC now owns 3,336 shares of the oil and gas company’s stock worth $69,000 after buying an additional 537 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of Cenovus Energy by 2.7% during the 3rd quarter. Private Advisor Group LLC now owns 22,453 shares of the oil and gas company’s stock worth $467,000 after buying an additional 598 shares during the last quarter. Schechter Investment Advisors LLC lifted its position in shares of Cenovus Energy by 1.6% during the 3rd quarter. Schechter Investment Advisors LLC now owns 39,350 shares of the oil and gas company’s stock worth $819,000 after buying an additional 611 shares during the last quarter. Lorne Steinberg Wealth Management Inc. lifted its position in shares of Cenovus Energy by 1.1% during the 3rd quarter. Lorne Steinberg Wealth Management Inc. now owns 57,715 shares of the oil and gas company’s stock worth $1,205,000 after buying an additional 630 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Cenovus Energy by 5.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 11,947 shares of the oil and gas company’s stock worth $249,000 after buying an additional 654 shares during the last quarter. 51.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. StockNews.com upgraded Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $28.00 target price on shares of Cenovus Energy in a research report on Friday, January 26th. Morgan Stanley increased their target price on Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, UBS Group upgraded Cenovus Energy from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Cenovus Energy has a consensus rating of “Buy” and an average price target of $26.67.

Cenovus Energy Trading Down 0.2 %

Shares of CVE stock opened at $21.23 on Thursday. The stock has a market cap of $39.60 billion, a price-to-earnings ratio of 13.44 and a beta of 2.15. The stock has a 50-day moving average of $19.16 and a 200-day moving average of $18.02. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.25. Cenovus Energy Inc. has a 1-year low of $14.69 and a 1-year high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. The company had revenue of $9.65 billion during the quarter, compared to analysts’ expectations of $9.73 billion. Cenovus Energy had a return on equity of 14.85% and a net margin of 7.88%. During the same quarter in the prior year, the firm posted $0.29 earnings per share. On average, equities research analysts forecast that Cenovus Energy Inc. will post 1.88 earnings per share for the current year.

Cenovus Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.1033 dividend. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.41 annualized dividend and a dividend yield of 1.95%. Cenovus Energy’s dividend payout ratio is presently 25.95%.

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.