Cenovus Energy Inc. (NYSE:CVE) Shares Bought by DRW Securities LLC

DRW Securities LLC lifted its stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 80.1% in the fourth quarter, HoldingsChannel reports. The fund owned 71,507 shares of the oil and gas company’s stock after purchasing an additional 31,800 shares during the quarter. DRW Securities LLC’s holdings in Cenovus Energy were worth $1,083,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Cenovus Energy during the fourth quarter valued at approximately $3,649,000. Renaissance Technologies LLC raised its holdings in shares of Cenovus Energy by 36.3% during the fourth quarter. Renaissance Technologies LLC now owns 4,378,894 shares of the oil and gas company’s stock valued at $66,340,000 after acquiring an additional 1,166,294 shares during the period. Invesco Ltd. raised its holdings in shares of Cenovus Energy by 3.6% during the fourth quarter. Invesco Ltd. now owns 8,043,884 shares of the oil and gas company’s stock valued at $121,865,000 after acquiring an additional 276,023 shares during the period. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in shares of Cenovus Energy during the fourth quarter valued at approximately $3,442,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Cenovus Energy by 4.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,226,155 shares of the oil and gas company’s stock valued at $79,176,000 after acquiring an additional 245,302 shares during the period. 51.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on CVE. StockNews.com lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. National Bank Financial lowered shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of Cenovus Energy in a research note on Wednesday, April 2nd. Scotiabank upgraded shares of Cenovus Energy to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Cenovus Energy in a research note on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.00.

Cenovus Energy Trading Up 13.6 %

Shares of CVE stock opened at $12.02 on Thursday. Cenovus Energy Inc. has a 52-week low of $10.23 and a 52-week high of $21.90. The stock has a market cap of $21.91 billion, a price-to-earnings ratio of 9.93 and a beta of 1.46. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. The firm has a fifty day moving average of $13.75 and a 200-day moving average of $15.12.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, equities research analysts forecast that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.1269 dividend. This represents a $0.51 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend was Friday, March 14th. Cenovus Energy’s dividend payout ratio (DPR) is presently 40.50%.

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.