Cenovus Energy Inc. (NYSE:CVE) Shares Bought by Foundation Resource Management Inc.

Foundation Resource Management Inc. grew its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 435,264 shares of the oil and gas company’s stock after purchasing an additional 6,509 shares during the period. Foundation Resource Management Inc.’s holdings in Cenovus Energy were worth $6,594,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Smead Capital Management Inc. grew its position in Cenovus Energy by 39.3% in the 3rd quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company’s stock valued at $257,831,000 after buying an additional 4,351,960 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Cenovus Energy by 81.1% in the second quarter. 1832 Asset Management L.P. now owns 12,538,499 shares of the oil and gas company’s stock valued at $246,507,000 after acquiring an additional 5,613,320 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Cenovus Energy by 5.3% in the second quarter. Mackenzie Financial Corp now owns 11,186,227 shares of the oil and gas company’s stock valued at $219,897,000 after acquiring an additional 562,663 shares in the last quarter. Ninepoint Partners LP increased its stake in shares of Cenovus Energy by 19.0% during the second quarter. Ninepoint Partners LP now owns 7,500,000 shares of the oil and gas company’s stock valued at $147,450,000 after acquiring an additional 1,200,000 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Cenovus Energy by 9.7% during the third quarter. Geode Capital Management LLC now owns 6,413,919 shares of the oil and gas company’s stock worth $109,232,000 after purchasing an additional 568,732 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors.

Cenovus Energy Stock Down 2.4 %

Shares of Cenovus Energy stock opened at $14.92 on Wednesday. Cenovus Energy Inc. has a 1 year low of $14.20 and a 1 year high of $21.90. The company has a market cap of $27.23 billion, a P/E ratio of 10.29 and a beta of 2.02. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average price of $15.42 and a 200 day moving average price of $17.21.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $10.25 billion. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. The firm’s revenue was down 17.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. As a group, analysts expect that Cenovus Energy Inc. will post 1.48 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a dividend of $0.133 per share. The ex-dividend date was Friday, December 13th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.57%. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.13. Cenovus Energy’s dividend payout ratio (DPR) is 36.55%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CVE shares. StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. TD Securities cut Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. BMO Capital Markets lowered their target price on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $28.00 price target on shares of Cenovus Energy in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Cenovus Energy has an average rating of “Moderate Buy” and an average price target of $30.00.

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.