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

Lingohr Asset Management GmbH boosted its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 19.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,276 shares of the oil and gas company’s stock after buying an additional 6,289 shares during the quarter. Lingohr Asset Management GmbH’s holdings in Cenovus Energy were worth $658,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Cenovus Energy by 2.1% during the first quarter. Vanguard Group Inc. now owns 48,563,284 shares of the oil and gas company’s stock valued at $970,780,000 after buying an additional 1,008,341 shares during the last quarter. Boston Partners grew its holdings in shares of Cenovus Energy by 29.0% during the 1st quarter. Boston Partners now owns 37,540,511 shares of the oil and gas company’s stock worth $750,435,000 after purchasing an additional 8,438,979 shares in the last quarter. Capital International Investors increased its position in shares of Cenovus Energy by 216.3% during the first quarter. Capital International Investors now owns 33,927,436 shares of the oil and gas company’s stock valued at $678,250,000 after purchasing an additional 23,202,018 shares during the period. Smead Capital Management Inc. lifted its position in Cenovus Energy by 39.3% in the third quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company’s stock worth $257,831,000 after purchasing an additional 4,351,960 shares during the period. Finally, 1832 Asset Management L.P. boosted its stake in Cenovus Energy by 81.1% during the second quarter. 1832 Asset Management L.P. now owns 12,538,499 shares of the oil and gas company’s stock worth $246,507,000 after buying an additional 5,613,320 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock opened at $15.99 on Tuesday. The firm has a market cap of $29.20 billion, a P/E ratio of 11.02 and a beta of 2.05. Cenovus Energy Inc. has a fifty-two week low of $14.69 and a fifty-two week 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. The firm has a 50 day simple moving average of $16.74 and a 200 day simple moving average of $18.46.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.08. The firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $10.25 billion. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. The business’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. Sell-side analysts predict that Cenovus Energy Inc. will post 1.5 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The business also recently disclosed 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 3.33%. The ex-dividend date is Friday, December 13th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.13. Cenovus Energy’s dividend payout ratio is currently 36.55%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CVE shares. StockNews.com upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Monday. BMO Capital Markets dropped their price objective on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, TD Securities lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Cenovus Energy presently has a consensus rating of “Moderate Buy” and an average price target 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.