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

Point72 Asia Singapore Pte. Ltd. bought a new position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 29,478 shares of the oil and gas company’s stock, valued at approximately $447,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Franklin Resources Inc. grew its stake in Cenovus Energy by 105.0% during 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 buying an additional 2,221,549 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Cenovus Energy by 4.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,226,155 shares of the oil and gas company’s stock valued at $79,176,000 after acquiring an additional 245,302 shares during the period. Amundi grew its position in shares of Cenovus Energy by 1.7% during the fourth quarter. Amundi now owns 4,678,976 shares of the oil and gas company’s stock worth $71,775,000 after acquiring an additional 77,548 shares during the last quarter. Alberta Investment Management Corp lifted its position in Cenovus Energy by 10.1% in the 4th quarter. Alberta Investment Management Corp now owns 4,494,400 shares of the oil and gas company’s stock valued at $68,094,000 after purchasing an additional 411,000 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Cenovus Energy during the 4th quarter valued at about $3,649,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Stock Performance

Shares of CVE opened at $13.64 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95. The firm’s 50 day moving average is $12.67 and its 200-day moving average is $14.25. Cenovus Energy Inc. has a 12-month low of $10.23 and a 12-month high of $21.08. The stock 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 posted its quarterly earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. The firm had revenue of $11.15 billion for the quarter, compared to analyst estimates of $12.39 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. During the same quarter in the previous year, the business posted $0.62 earnings per share. Equities research analysts anticipate that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.1269 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 3.72%. Cenovus Energy’s dividend payout ratio (DPR) is 51.40%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CVE shares. Scotiabank upgraded Cenovus Energy to a “strong-buy” rating in a research report on Wednesday, March 19th. National Bank Financial lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, February 21st. National Bankshares restated a “sector perform” rating on shares of Cenovus Energy in a research note on Friday, April 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 target price on shares of Cenovus Energy in a research report on Friday, April 11th. Finally, The Goldman Sachs Group reduced their price target on shares of Cenovus Energy from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Four investment 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.75.

About Cenovus Energy

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.