MANA Advisors LLC bought a new position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 32,191 shares of the oil and gas company’s stock, valued at approximately $294,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its stake in Cenovus Energy by 30.2% during the 4th quarter. Renaissance Technologies LLC now owns 2,473,800 shares of the oil and gas company’s stock worth $22,608,000 after acquiring an additional 574,500 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in Cenovus Energy during the 4th quarter worth about $1,474,000. Lombard Odier Asset Management Switzerland SA acquired a new position in Cenovus Energy during the 4th quarter worth about $1,718,000. Mackenzie Financial Corp lifted its stake in Cenovus Energy by 73.9% during the 4th quarter. Mackenzie Financial Corp now owns 8,018,311 shares of the oil and gas company’s stock worth $73,207,000 after acquiring an additional 3,406,432 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in Cenovus Energy during the 4th quarter worth about $329,000. 75.80% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently issued reports on CVE. Zacks Investment Research lowered Cenovus Energy from a “hold” rating to a “sell” rating in a research note on Monday. UBS Group assumed coverage on Cenovus Energy in a report on Wednesday, March 7th. They set a “neutral” rating on the stock. ValuEngine downgraded Cenovus Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Desjardins restated a “hold” rating on shares of Cenovus Energy in a report on Friday, January 12th. Finally, AltaCorp Capital upgraded Cenovus Energy from a “sector perform” rating to an “outperform” rating in a report on Friday, February 16th. Five analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Cenovus Energy presently has a consensus rating of “Hold” and a consensus target price of $14.42.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas company reported ($0.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.45). Cenovus Energy had a return on equity of 0.53% and a net margin of 18.92%. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.95 billion. During the same quarter last year, the company earned $0.39 EPS. equities analysts expect that Cenovus Energy Inc will post 0.22 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be issued a $0.0398 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.95%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s dividend payout ratio is presently 6.99%.
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About Cenovus Energy
Cenovus Energy Inc is a Canada-based integrated oil company. It operates in the business of developing, producing and marketing crude oil, Natural Gas Liquids (NGLs) and natural gas in Canada. The Company also conducts marketing activities and owns refining interests in the United States (U.S.). Its segments include: Oil Sands, which includes the development and production of bitumen and natural gas in northeast Alberta; Conventional, which includes the development and production of conventional crude oil, NGLs and natural gas in Alberta and Saskatchewan, including the heavy oil assets at Pelican Lake, the carbon dioxide (CO2) enhanced oil recovery (EOR) project at Weyburn and emerging tight oil opportunities; Refining and Marketing, which includes transporting and selling crude oil and natural gas and joint ownership of refineries in the U.S., as well as Corporate and Eliminations.
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