Cenovus Energy Inc. (NYSE:CVE) Shares Purchased by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC raised its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 175.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,509 shares of the oil and gas company’s stock after purchasing an additional 65,921 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Cenovus Energy were worth $1,568,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVE. Foundation Resource Management Inc. boosted its stake in Cenovus Energy by 1.5% in the fourth quarter. Foundation Resource Management Inc. now owns 435,264 shares of the oil and gas company’s stock valued at $6,594,000 after acquiring an additional 6,509 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Cenovus Energy by 1,289.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 430,781 shares of the oil and gas company’s stock worth $6,526,000 after purchasing an additional 399,787 shares in the last quarter. SkyView Investment Advisors LLC boosted its position in Cenovus Energy by 5.1% during the third quarter. SkyView Investment Advisors LLC now owns 43,632 shares of the oil and gas company’s stock worth $730,000 after acquiring an additional 2,122 shares during the last quarter. Virtu Financial LLC acquired a new stake in Cenovus Energy during the third quarter worth approximately $408,000. Finally, TD Private Client Wealth LLC boosted its holdings in shares of Cenovus Energy by 3.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 40,194 shares of the oil and gas company’s stock valued at $672,000 after purchasing an additional 1,236 shares during the last quarter. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Trading Up 1.4 %

Shares of NYSE CVE opened at $15.06 on Friday. The company’s 50 day simple moving average is $15.32 and its 200 day simple moving average is $17.11. Cenovus Energy Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $21.90. The firm has a market capitalization of $27.48 billion, a P/E ratio of 10.38 and a beta of 2.01. 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 issued its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $10.25 billion. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. The firm’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period last year, the business posted $0.72 earnings per share. On average, analysts predict that Cenovus Energy Inc. will post 1.45 EPS for the current year.

Cenovus Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a dividend of $0.133 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date was Friday, December 13th. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.13. Cenovus Energy’s dividend payout ratio (DPR) is currently 34.48%.

Wall Street Analysts Forecast Growth

CVE has been the topic of several analyst reports. TD Securities downgraded shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. BMO Capital Markets dropped their target price on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. StockNews.com downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $28.00 target price on shares of Cenovus Energy in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $30.00.

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.