Centiva Capital LP Raises Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

Centiva Capital LP boosted its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 61.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,453 shares of the oil and gas company’s stock after purchasing an additional 21,090 shares during the quarter. Centiva Capital LP’s holdings in Cenovus Energy were worth $928,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Smead Capital Management Inc. grew its position in shares of Cenovus Energy by 39.3% during the third quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company’s stock worth $257,831,000 after buying an additional 4,351,960 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in Cenovus Energy by 81.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 12,538,499 shares of the oil and gas company’s stock worth $246,507,000 after acquiring an additional 5,613,320 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Cenovus Energy by 5.3% in the 2nd quarter. Mackenzie Financial Corp now owns 11,186,227 shares of the oil and gas company’s stock worth $219,897,000 after purchasing an additional 562,663 shares during the last quarter. Ninepoint Partners LP raised its stake in shares of Cenovus Energy by 19.0% in the 2nd quarter. Ninepoint Partners LP now owns 7,500,000 shares of the oil and gas company’s stock valued at $147,450,000 after purchasing an additional 1,200,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Cenovus Energy by 22,396.6% during the second quarter. Assenagon Asset Management S.A. now owns 7,429,036 shares of the oil and gas company’s stock worth $146,054,000 after purchasing an additional 7,396,013 shares during the last quarter. 51.19% of the stock is owned by institutional investors and hedge funds.

Cenovus Energy Trading Up 0.9 %

Shares of NYSE CVE opened at $15.64 on Friday. Cenovus Energy Inc. has a 12-month low of $14.69 and a 12-month high of $21.90. The company has a market cap of $28.57 billion, a price-to-earnings ratio of 10.79 and a beta of 2.02. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The stock’s 50 day simple moving average is $16.52 and its 200 day simple moving average is $18.08.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.08. The company had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $10.25 billion. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The firm’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same period last year, the business posted $0.72 earnings per share. Equities research analysts expect that Cenovus Energy Inc. will post 1.48 EPS for the current year.

Cenovus Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.133 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.53 annualized dividend and a dividend yield of 3.40%. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.13. Cenovus Energy’s dividend payout ratio (DPR) is presently 36.55%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. BMO Capital Markets lowered their price objective on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. TD Securities downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. Finally, StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Cenovus Energy presently 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.