XTX Topco Ltd Makes New Investment in Cenovus Energy Inc. (NYSE:CVE)

XTX Topco Ltd purchased a new stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) in the third quarter, according to its most recent filing with the SEC. The fund purchased 29,620 shares of the oil and gas company’s stock, valued at approximately $496,000.

Several other institutional investors and hedge funds have also made changes to their positions in CVE. Smead Capital Management Inc. increased its stake in Cenovus Energy by 39.3% during the third 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 purchasing an additional 4,351,960 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Cenovus Energy in the 3rd quarter valued at about $3,472,000. HITE Hedge Asset Management LLC bought a new stake in shares of Cenovus Energy during the 3rd quarter valued at about $11,569,000. Charles Schwab Investment Management Inc. raised its stake in Cenovus Energy by 11.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,653,192 shares of the oil and gas company’s stock worth $61,163,000 after acquiring an additional 369,021 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in Cenovus Energy by 44.1% in the third quarter. Two Sigma Advisers LP now owns 1,284,600 shares of the oil and gas company’s stock worth $21,491,000 after acquiring an additional 393,100 shares during the last quarter. 51.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Thursday, December 5th. BMO Capital Markets dropped their target price on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, TD Securities downgraded shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Cenovus Energy Stock Up 1.8 %

CVE opened at $15.25 on Friday. The stock’s 50 day moving average price is $16.26 and its 200 day moving average price is $17.87. 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 stock has a market cap of $27.85 billion, a P/E ratio of 10.52 and a beta of 2.02. Cenovus Energy Inc. has a 12 month low of $14.69 and a 12 month high of $21.90.

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

Cenovus Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.133 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.49%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, December 13th. Cenovus Energy’s payout ratio is 36.55%.

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.