Centiva Capital LP Increases Position in Cenovus Energy Inc. (NYSE:CVE)

Centiva Capital LP grew its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 153.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 140,505 shares of the oil and gas company’s stock after buying an additional 85,052 shares during the period. Centiva Capital LP’s holdings in Cenovus Energy were worth $2,129,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors boosted its stake in shares of Cenovus Energy by 15.8% during the fourth quarter. Capital World Investors now owns 191,412,590 shares of the oil and gas company’s stock valued at $2,901,131,000 after purchasing an additional 26,127,617 shares during the period. Dimensional Fund Advisors LP boosted its position in Cenovus Energy by 48.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 13,001,002 shares of the oil and gas company’s stock valued at $196,935,000 after buying an additional 4,220,663 shares during the period. Franklin Resources Inc. grew its stake in Cenovus Energy by 105.0% in the 4th quarter. Franklin Resources Inc. now owns 4,337,551 shares of the oil and gas company’s stock worth $65,667,000 after acquiring an additional 2,221,549 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Cenovus Energy by 29.2% during the fourth quarter. Geode Capital Management LLC now owns 8,287,334 shares of the oil and gas company’s stock worth $128,783,000 after acquiring an additional 1,873,415 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Cenovus Energy by 36.3% during the fourth quarter. Renaissance Technologies LLC now owns 4,378,894 shares of the oil and gas company’s stock valued at $66,340,000 after acquiring an additional 1,166,294 shares in the last quarter. 51.19% of the stock is owned by institutional investors.

Cenovus Energy Price Performance

Shares of CVE stock opened at $11.86 on Wednesday. The firm has a market capitalization of $21.61 billion, a price-to-earnings ratio of 9.80 and a beta of 0.95. 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 stock’s 50-day simple moving average is $12.59 and its 200-day simple moving average is $14.40. Cenovus Energy Inc. has a fifty-two week low of $10.23 and a fifty-two week high of $21.08.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.27). The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. As a group, equities analysts forecast that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.1269 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a yield of 4.28%. Cenovus Energy’s dividend payout ratio (DPR) is 40.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 target price on shares of Cenovus Energy in a report on Friday, April 11th. Morgan Stanley reaffirmed an “overweight” rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. National Bankshares reissued a “sector perform” rating on shares of Cenovus Energy in a research report on Friday, April 25th. National Bank Financial cut shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, February 21st. Finally, Scotiabank raised shares of Cenovus Energy to a “strong-buy” rating in a report on Wednesday, March 19th. 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.75.

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.