Waratah Capital Advisors Ltd. acquired a new position in Cenovus Energy (NYSE:CVE) (TSE:CVE) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 482,715 shares of the oil and gas company’s stock, valued at approximately $4,107,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Neuberger Berman Group LLC increased its stake in Cenovus Energy by 46.3% in the 1st quarter. Neuberger Berman Group LLC now owns 96,510 shares of the oil and gas company’s stock worth $822,000 after acquiring an additional 30,531 shares during the last quarter. Aperio Group LLC increased its stake in Cenovus Energy by 63.9% in the 1st quarter. Aperio Group LLC now owns 220,727 shares of the oil and gas company’s stock worth $1,885,000 after acquiring an additional 86,030 shares during the last quarter. Pzena Investment Management LLC increased its stake in Cenovus Energy by 6.7% in the 1st quarter. Pzena Investment Management LLC now owns 24,658,950 shares of the oil and gas company’s stock worth $210,587,000 after acquiring an additional 1,551,337 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Cenovus Energy by 0.4% in the 1st quarter. First Eagle Investment Management LLC now owns 32,082,882 shares of the oil and gas company’s stock worth $273,988,000 after acquiring an additional 140,303 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Cenovus Energy by 30.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 249,820 shares of the oil and gas company’s stock valued at $2,043,000 after purchasing an additional 57,786 shares during the last quarter. 74.10% of the stock is currently owned by institutional investors and hedge funds.
CVE has been the topic of several analyst reports. Tudor Pickering raised Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, March 28th. Raymond James raised Cenovus Energy from an “underperform” rating to a “market perform” rating in a research report on Tuesday, April 24th. Zacks Investment Research downgraded Cenovus Energy from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th. AltaCorp Capital raised Cenovus Energy from a “sector perform” rating to an “outperform” rating in a research report on Friday, February 16th. Finally, ValuEngine downgraded Cenovus Energy from a “hold” rating to a “sell” rating in a research report on Saturday, February 17th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Cenovus Energy currently has an average rating of “Hold” and an average target price of $13.36.
Shares of Cenovus Energy stock opened at $10.95 on Tuesday. The firm has a market capitalization of $13.44 billion, a price-to-earnings ratio of -547.50 and a beta of 0.69. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.72 and a current ratio of 1.12. Cenovus Energy has a 52 week low of $10.91 and a 52 week high of $11.12.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Wednesday, April 25th. The oil and gas company reported ($0.48) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.35). The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.88 billion. Cenovus Energy had a net margin of 13.13% and a negative return on equity of 3.24%. During the same period last year, the company earned ($0.05) EPS. equities analysts expect that Cenovus Energy will post -0.12 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be given a $0.0389 dividend. This represents a $0.16 annualized dividend and a yield of 1.42%. The ex-dividend date is Thursday, June 14th. Cenovus Energy’s dividend payout ratio (DPR) is presently -800.00%.
Cenovus Energy Company 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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