Panview Capital Ltd Invests $16.74 Million in Cenovus Energy Inc. (NYSE:CVE)

Panview Capital Ltd bought a new position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,105,000 shares of the oil and gas company’s stock, valued at approximately $16,741,000. Cenovus Energy accounts for approximately 3.6% of Panview Capital Ltd’s holdings, making the stock its 9th biggest position. Panview Capital Ltd owned approximately 0.06% of Cenovus Energy as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Bank of Stockton raised its stake in Cenovus Energy by 14.8% in the 4th quarter. Bank of Stockton now owns 14,796 shares of the oil and gas company’s stock valued at $224,000 after purchasing an additional 1,902 shares during the last quarter. Alberta Investment Management Corp raised its stake 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. Mraz Amerine & Associates Inc. raised its stake in Cenovus Energy by 37.1% in the 4th quarter. Mraz Amerine & Associates Inc. now owns 185,308 shares of the oil and gas company’s stock valued at $2,807,000 after purchasing an additional 50,190 shares during the last quarter. D.A. Davidson & CO. acquired a new position in Cenovus Energy in the 4th quarter valued at $186,000. Finally, Sierra Ocean LLC acquired a new position in Cenovus Energy in the 4th quarter valued at $67,000. 51.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Royal Bank of Canada cut their target price on Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday. National Bank Financial cut Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday. BMO Capital Markets lowered their price target on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cenovus Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.25.

Cenovus Energy Price Performance

Shares of NYSE CVE opened at $14.61 on Friday. The firm has a market capitalization of $26.64 billion, a PE ratio of 12.07 and a beta of 1.99. Cenovus Energy Inc. has a fifty-two week low of $13.76 and a fifty-two week high of $21.90. The stock’s 50-day simple moving average is $14.99 and its 200-day simple moving average is $16.29. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59.

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

Cenovus Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.1269 per share. This represents a $0.51 annualized dividend and a yield of 3.47%. The ex-dividend date is Friday, March 14th. Cenovus Energy’s dividend payout ratio (DPR) is 42.15%.

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.