Parametrica Management Ltd Takes $257,000 Position in Cenovus Energy Inc. (NYSE:CVE)

Parametrica Management Ltd acquired a new position in Cenovus Energy Inc. (NYSE:CVEGet Rating) (TSE:CVE) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,389 shares of the oil and gas company’s stock, valued at approximately $257,000.

A number of other large investors have also added to or reduced their stakes in the company. CWM LLC raised its position in shares of Cenovus Energy by 239.4% in the 1st quarter. CWM LLC now owns 1,680 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 1,185 shares during the last quarter. AllSquare Wealth Management LLC purchased a new position in shares of Cenovus Energy during the 1st quarter worth $32,000. Industrial Alliance Investment Management Inc. purchased a new stake in Cenovus Energy in the 4th quarter valued at about $285,000. BDO Wealth Advisors LLC raised its holdings in Cenovus Energy by 250.0% in the 1st quarter. BDO Wealth Advisors LLC now owns 3,500 shares of the oil and gas company’s stock valued at $58,000 after buying an additional 2,500 shares during the period. Finally, Blume Capital Management Inc. increased its stake in Cenovus Energy by 108.2% during the fourth quarter. Blume Capital Management Inc. now owns 4,810 shares of the oil and gas company’s stock worth $59,000 after purchasing an additional 2,500 shares during the period. Institutional investors own 48.02% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVE. Cormark lowered their price objective on Cenovus Energy from $32.00 to $26.00 in a research report on Monday, May 16th. Scotiabank lifted their price objective on Cenovus Energy from C$25.00 to C$34.00 in a report on Wednesday, June 8th. The Goldman Sachs Group lifted their target price on Cenovus Energy from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, May 20th. Credit Suisse Group reiterated an “outperform” rating and issued a $37.00 target price on shares of Cenovus Energy in a research report on Thursday, August 11th. Finally, StockNews.com upgraded Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Friday, April 29th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $26.13.

Cenovus Energy Stock Down 3.3 %

CVE opened at $18.06 on Tuesday. Cenovus Energy Inc. has a one year low of $7.20 and a one year high of $24.91. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.73. The stock’s fifty day moving average is $18.79 and its 200-day moving average is $18.03. The company has a market capitalization of $35.21 billion, a PE ratio of 11.29 and a beta of 2.33.

Cenovus Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.0814 per share. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Wednesday, September 14th. Cenovus Energy’s dividend payout ratio (DPR) is presently 20.63%.

Cenovus Energy Profile

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Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States, and the Asia Pacific region. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments.

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Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

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