Css LLC Il Grows Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

Css LLC Il increased its stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 17.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 225,690 shares of the oil and gas company’s stock after purchasing an additional 33,390 shares during the quarter. Css LLC Il’s holdings in Cenovus Energy were worth $3,419,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVE. Voloridge Investment Management LLC lifted its holdings in shares of Cenovus Energy by 16.9% during the 4th quarter. Voloridge Investment Management LLC now owns 1,532,608 shares of the oil and gas company’s stock valued at $23,219,000 after buying an additional 221,505 shares during the period. Two Sigma Advisers LP increased its position in Cenovus Energy by 15.6% during the fourth quarter. Two Sigma Advisers LP now owns 1,484,900 shares of the oil and gas company’s stock valued at $22,496,000 after acquiring an additional 200,300 shares during the last quarter. Two Sigma Investments LP lifted its holdings in Cenovus Energy by 122.9% in the fourth quarter. Two Sigma Investments LP now owns 1,957,007 shares of the oil and gas company’s stock valued at $29,649,000 after acquiring an additional 1,079,098 shares during the period. Tidal Investments LLC boosted its position in Cenovus Energy by 187.7% in the fourth quarter. Tidal Investments LLC now owns 72,422 shares of the oil and gas company’s stock worth $1,097,000 after purchasing an additional 47,246 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in shares of Cenovus Energy by 91.7% during the 4th quarter. Toronto Dominion Bank now owns 7,233,491 shares of the oil and gas company’s stock valued at $109,515,000 after purchasing an additional 3,460,311 shares during the period. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CVE. Veritas cut shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 14th. National Bankshares reiterated a “sector perform” rating on shares of Cenovus Energy in a research report on Friday, April 25th. The Goldman Sachs Group cut their price objective on shares of Cenovus Energy from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of Cenovus Energy in a report on Tuesday, April 15th. Finally, National Bank Financial lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, February 21st. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.75.

Cenovus Energy Trading Down 1.8%

Shares of Cenovus Energy stock opened at $13.29 on Wednesday. Cenovus Energy Inc. has a fifty-two week low of $10.23 and a fifty-two week high of $21.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. The company has a market capitalization of $24.22 billion, a P/E ratio of 10.98 and a beta of 0.95. The company has a fifty day moving average of $12.69 and a 200 day moving average of $14.18.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. The firm had revenue of $11.15 billion during the quarter, compared to analyst estimates of $12.39 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. On average, sell-side analysts anticipate that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.1269 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.51 annualized dividend and a yield of 3.82%. Cenovus Energy’s payout ratio is 51.40%.

Cenovus Energy Company 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.