Duality Advisers LP Lowers Position in Cenovus Energy Inc. (NYSE:CVE)

Duality Advisers LP cut its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 28.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,334 shares of the oil and gas company’s stock after selling 20,422 shares during the period. Duality Advisers LP’s holdings in Cenovus Energy were worth $871,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mackenzie Financial Corp lifted its position in shares of Cenovus Energy by 4.4% in the fourth quarter. Mackenzie Financial Corp now owns 11,053,328 shares of the oil and gas company’s stock valued at $184,278,000 after acquiring an additional 462,273 shares in the last quarter. Canoe Financial LP lifted its position in shares of Cenovus Energy by 20.0% in the third quarter. Canoe Financial LP now owns 1,406,395 shares of the oil and gas company’s stock valued at $29,282,000 after acquiring an additional 234,500 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Cenovus Energy by 16.2% in the third quarter. Deutsche Bank AG now owns 1,422,158 shares of the oil and gas company’s stock valued at $29,609,000 after acquiring an additional 198,062 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Cenovus Energy by 1.4% in the third quarter. Vanguard Group Inc. now owns 49,480,149 shares of the oil and gas company’s stock valued at $1,030,177,000 after acquiring an additional 690,057 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of Cenovus Energy by 315.6% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 187,000 shares of the oil and gas company’s stock valued at $3,893,000 after acquiring an additional 142,000 shares in the last quarter. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Cenovus Energy Trading Down 0.2 %

Shares of NYSE CVE opened at $21.23 on Thursday. The business’s 50 day moving average is $19.16 and its two-hundred day moving average is $18.02. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.56 and a quick ratio of 0.91. Cenovus Energy Inc. has a 1-year low of $14.69 and a 1-year high of $21.90. The stock has a market capitalization of $39.60 billion, a P/E ratio of 13.44 and a beta of 2.15.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. Cenovus Energy had a return on equity of 14.85% and a net margin of 7.88%. The company had revenue of $9.65 billion for the quarter, compared to analysts’ expectations of $9.73 billion. During the same period in the previous year, the firm posted $0.29 earnings per share. As a group, research analysts expect that Cenovus Energy Inc. will post 1.88 EPS for the current year.

Cenovus Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.1033 per share. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.10. This represents a $0.41 annualized dividend and a yield of 1.95%. The ex-dividend date was Thursday, March 14th. Cenovus Energy’s payout ratio is presently 25.95%.

Analysts Set New Price Targets

Several equities analysts have recently commented on CVE shares. UBS Group upgraded Cenovus Energy from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $28.00 target price on shares of Cenovus Energy in a report on Friday, January 26th. Morgan Stanley lifted their target price on Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, StockNews.com raised Cenovus Energy from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $26.67.

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.