Luminus Management LLC acquired a new stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,950,000 shares of the oil and gas company’s stock, valued at approximately $17,804,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in CVE. Sowell Financial Services LLC acquired a new stake in shares of Cenovus Energy in the third quarter valued at about $106,000. Timber Hill LLC acquired a new stake in shares of Cenovus Energy in the third quarter valued at about $114,000. QS Investors LLC acquired a new stake in shares of Cenovus Energy in the fourth quarter valued at about $121,000. Cutler Capital Management LLC acquired a new stake in shares of Cenovus Energy in the third quarter valued at about $125,000. Finally, First Allied Advisory Services Inc. acquired a new position in Cenovus Energy during the third quarter worth about $125,000. Hedge funds and other institutional investors own 75.80% of the company’s stock.
Cenovus Energy Inc (NYSE CVE) opened at $8.17 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.13 and a quick ratio of 0.82. The firm has a market cap of $10,039.21, a P/E ratio of 3.57, a PEG ratio of 6.19 and a beta of 0.86. Cenovus Energy Inc has a 52-week low of $6.76 and a 52-week high of $13.32.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be given a $0.0398 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Wednesday, March 14th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s payout ratio is currently 6.99%.
A number of equities analysts have issued reports on CVE shares. Zacks Investment Research upgraded shares of Cenovus Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Desjardins restated a “hold” rating on shares of Cenovus Energy in a research report on Friday, January 12th. UBS Group started coverage on shares of Cenovus Energy in a research report on Wednesday, March 7th. They set a “neutral” rating for the company. AltaCorp Capital upgraded shares of Cenovus Energy from a “sector perform” rating to an “outperform” rating in a research report on Friday, February 16th. Finally, Scotiabank cut shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, November 15th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $14.42.
Cenovus Energy Company Profile
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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