Lingohr Asset Management GmbH Has $658,000 Position in Cenovus Energy Inc. (NYSE:CVE)

Lingohr Asset Management GmbH grew its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 19.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,276 shares of the oil and gas company’s stock after purchasing an additional 6,289 shares during the period. Lingohr Asset Management GmbH’s holdings in Cenovus Energy were worth $658,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Blue Trust Inc. raised its holdings in Cenovus Energy by 640.3% during the 3rd quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock worth $51,000 after buying an additional 2,651 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Cenovus Energy by 8.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company’s stock valued at $170,000 after purchasing an additional 643 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in Cenovus Energy in the 1st quarter valued at $205,000. Everpar Advisors LLC acquired a new position in shares of Cenovus Energy during the 2nd quarter worth about $211,000. Finally, FCG Investment Co bought a new position in shares of Cenovus Energy in the 3rd quarter valued at about $211,000. Institutional investors and hedge funds own 51.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CVE. BMO Capital Markets lowered their price target 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. StockNews.com raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Monday. Finally, TD Securities cut shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Cenovus Energy presently has an average rating of “Moderate Buy” and an average target price of $30.00.

Cenovus Energy Price Performance

NYSE:CVE opened at $15.99 on Tuesday. The company has a market cap of $29.20 billion, a P/E ratio of 11.02 and a beta of 2.05. The firm’s fifty day moving average price is $16.74 and its two-hundred day moving average price is $18.46. Cenovus Energy Inc. has a one year low of $14.69 and a one year high of $21.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced 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. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $10.25 billion. During the same quarter in the prior year, the business earned $0.72 EPS. Cenovus Energy’s quarterly revenue was down 17.9% on a year-over-year basis. Equities analysts expect that Cenovus Energy Inc. will post 1.5 earnings per share for the current year.

Cenovus Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.133 per share. This represents a $0.53 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Friday, December 13th. 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%.

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.