Cenovus Energy Inc. (NYSE:CVE) Shares Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd increased its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 42.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 113,706 shares of the oil and gas company’s stock after buying an additional 33,992 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Cenovus Energy were worth $1,902,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CVE. Cetera Advisors LLC raised its stake in shares of Cenovus Energy by 5.2% in the 1st quarter. Cetera Advisors LLC now owns 16,347 shares of the oil and gas company’s stock valued at $327,000 after acquiring an additional 801 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in shares of Cenovus Energy by 12.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,496 shares of the oil and gas company’s stock valued at $226,000 after buying an additional 1,229 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Cenovus Energy by 22,396.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 7,429,036 shares of the oil and gas company’s stock valued at $146,054,000 after buying an additional 7,396,013 shares during the period. Everpar Advisors LLC acquired a new position in Cenovus Energy during the 2nd quarter worth about $211,000. Finally, Raymond James & Associates boosted its holdings in Cenovus Energy by 1.4% during the 2nd quarter. Raymond James & Associates now owns 304,326 shares of the oil and gas company’s stock valued at $5,983,000 after acquiring an additional 4,327 shares during the period. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CVE shares. StockNews.com cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Thursday, December 5th. BMO Capital Markets decreased their price target on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, TD Securities lowered Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Cenovus Energy currently has an average rating of “Moderate Buy” and an average price target of $30.00.

Cenovus Energy Trading Down 0.5 %

Shares of NYSE:CVE opened at $15.11 on Wednesday. Cenovus Energy Inc. has a 52 week low of $14.69 and a 52 week high of $21.90. The company’s 50 day moving average is $16.41 and its two-hundred day moving average is $17.94. The company has a market cap of $27.60 billion, a PE ratio of 10.42 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.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Thursday, October 31st. The oil and gas company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.34 by $0.08. The firm 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%. Cenovus Energy’s revenue for the quarter was down 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 earnings per share. Equities analysts predict that Cenovus Energy Inc. will post 1.48 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.133 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 3.52%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, December 13th. Cenovus Energy’s dividend 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.