Cenovus Energy Inc. (NYSE:CVE) Shares Acquired by Signaturefd LLC

Signaturefd LLC raised its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 9.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,606 shares of the oil and gas company’s stock after buying an additional 4,479 shares during the quarter. Signaturefd LLC’s holdings in Cenovus Energy were worth $880,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. LVW Advisors LLC acquired a new stake in shares of Cenovus Energy during the 1st quarter valued at approximately $240,000. Wolff Wiese Magana LLC raised its holdings in shares of Cenovus Energy by 71.4% during the first quarter. Wolff Wiese Magana LLC now owns 2,400 shares of the oil and gas company’s stock worth $48,000 after purchasing an additional 1,000 shares during the period. First Trust Direct Indexing L.P. bought a new position in shares of Cenovus Energy in the 1st quarter worth about $215,000. Maryland State Retirement & Pension System boosted its holdings in shares of Cenovus Energy by 10.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 314,445 shares of the oil and gas company’s stock valued at $6,507,000 after buying an additional 30,715 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Cenovus Energy by 42.1% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 4,827 shares of the oil and gas company’s stock valued at $96,000 after buying an additional 1,429 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Wall Street Analysts Forecast Growth

CVE has been the topic of a number of recent research reports. BMO Capital Markets cut their target price on shares of Cenovus Energy from $33.00 to $31.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. StockNews.com downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a report on Monday, September 30th. TD Securities downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, Scotiabank cut their target price on Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cenovus Energy currently has an average rating of “Moderate Buy” and an average price target of $30.75.

Cenovus Energy Stock Performance

Shares of NYSE CVE opened at $16.74 on Friday. Cenovus Energy Inc. has a 12-month low of $14.69 and a 12-month high of $21.90. The company has a market cap of $31.13 billion, a PE ratio of 9.30 and a beta of 2.04. The stock has a 50 day simple moving average of $17.52 and a 200-day simple moving average of $19.08. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 0.25.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Thursday, August 1st. The oil and gas company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.13). Cenovus Energy had a net margin of 8.56% and a return on equity of 16.61%. The business had revenue of $10.88 billion for the quarter, compared to the consensus estimate of $9.78 billion. On average, equities research analysts forecast that Cenovus Energy Inc. will post 1.84 EPS for the current year.

Cenovus Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.132 dividend. This represents a $0.53 annualized dividend and a yield of 3.15%. The ex-dividend date was Friday, September 13th. Cenovus Energy’s payout ratio is currently 29.44%.

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.