29,478 Shares in Cenovus Energy Inc. (NYSE:CVE) Purchased by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 29,478 shares of the oil and gas company’s stock, valued at approximately $447,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVE. Alliancebernstein L.P. grew its holdings in Cenovus Energy by 0.7% in the fourth quarter. Alliancebernstein L.P. now owns 106,532 shares of the oil and gas company’s stock valued at $1,614,000 after purchasing an additional 779 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Cenovus Energy by 104.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company’s stock worth $25,000 after buying an additional 851 shares during the last quarter. Montgomery Investment Management Inc. raised its position in shares of Cenovus Energy by 1.6% in the 4th quarter. Montgomery Investment Management Inc. now owns 56,535 shares of the oil and gas company’s stock worth $857,000 after buying an additional 894 shares during the period. Guggenheim Capital LLC boosted its holdings in Cenovus Energy by 4.5% in the fourth quarter. Guggenheim Capital LLC now owns 20,974 shares of the oil and gas company’s stock valued at $318,000 after acquiring an additional 908 shares during the last quarter. Finally, Banco Santander S.A. increased its stake in Cenovus Energy by 5.6% during the fourth quarter. Banco Santander S.A. now owns 30,967 shares of the oil and gas company’s stock worth $469,000 after acquiring an additional 1,641 shares during the last quarter. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Wall Street Analysts Forecast Growth

CVE has been the topic of several research analyst reports. The Goldman Sachs Group reduced their price objective on Cenovus Energy from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Scotiabank upgraded shares of Cenovus Energy to a “strong-buy” rating in a research note on Wednesday, March 19th. National Bankshares restated a “sector perform” rating on shares of Cenovus Energy in a report on Friday, April 25th. Morgan Stanley reiterated an “overweight” rating on shares of Cenovus Energy in a report on Tuesday, April 15th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $25.00 price objective on shares of Cenovus Energy in a research note on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.75.

Cenovus Energy Trading Down 1.2%

Shares of CVE opened at $13.64 on Friday. Cenovus Energy Inc. has a one year low of $10.23 and a one year high of $21.08. The stock has a 50-day moving average price of $12.67 and a 200 day moving average price of $14.25. 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 $24.86 billion, a P/E ratio of 11.27 and a beta of 0.95.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results 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 net margin of 5.82% and a return on equity of 10.73%. The business had revenue of $11.15 billion during the quarter, compared to the consensus estimate of $12.39 billion. During the same quarter last year, the company earned $0.62 earnings per share. Sell-side analysts forecast that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.1269 per share. This represents a $0.51 annualized dividend and a yield of 3.72%. The ex-dividend date was Friday, March 14th. Cenovus Energy’s payout ratio is currently 51.40%.

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.