Ursa Fund Management LLC purchased a new position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 25,000 shares of the oil and gas company’s stock, valued at approximately $283,000. Cenovus Energy accounts for about 0.2% of Ursa Fund Management LLC’s investment portfolio, making the stock its 10th largest position.

Other hedge funds also recently made changes to their positions in the company. Beutel Goodman & Co Ltd. boosted its stake in shares of Cenovus Energy by 5.0% in the first quarter. Beutel Goodman & Co Ltd. now owns 45,403,489 shares of the oil and gas company’s stock worth $512,963,000 after buying an additional 2,152,330 shares during the period. FMR LLC boosted its stake in shares of Cenovus Energy by 33.0% in the first quarter. FMR LLC now owns 43,684,595 shares of the oil and gas company’s stock worth $494,381,000 after buying an additional 10,833,896 shares during the period. TD Asset Management Inc. boosted its stake in shares of Cenovus Energy by 46.9% in the first quarter. TD Asset Management Inc. now owns 40,979,115 shares of the oil and gas company’s stock worth $462,442,000 after buying an additional 13,092,198 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of Cenovus Energy by 25.6% in the first quarter. First Eagle Investment Management LLC now owns 31,675,743 shares of the oil and gas company’s stock worth $357,936,000 after buying an additional 6,448,369 shares during the period. Finally, Jarislowsky Fraser Ltd boosted its stake in shares of Cenovus Energy by 0.3% in the fourth quarter. Jarislowsky Fraser Ltd now owns 25,300,061 shares of the oil and gas company’s stock worth $382,976,000 after buying an additional 79,468 shares during the period. Hedge funds and other institutional investors own 84.06% of the company’s stock.

Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

Shares of Cenovus Energy Inc (NYSE:CVE) traded up 0.13% during trading on Friday, hitting $7.91. The stock had a trading volume of 3,692,982 shares. The stock has a 50 day moving average price of $9.13 and a 200-day moving average price of $12.33. Cenovus Energy Inc has a one year low of $7.81 and a one year high of $16.82. The stock’s market capitalization is $6.59 billion.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Wednesday, April 26th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by $0.06. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $3.21 billion. Cenovus Energy had a positive return on equity of 0.03% and a negative net margin of 1.64%. During the same quarter in the prior year, the firm earned ($0.51) EPS. On average, equities research analysts predict that Cenovus Energy Inc will post $0.26 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be given a dividend of $0.0371 per share. The ex-dividend date is Tuesday, June 13th. This represents a $0.15 dividend on an annualized basis and a yield of 1.87%. Cenovus Energy’s dividend payout ratio is currently -71.43%.

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A number of analysts have weighed in on CVE shares. Credit Suisse Group reiterated an “outperform” rating on shares of Cenovus Energy in a research report on Friday, May 26th. TD Securities upgraded Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Friday, March 24th. ValuEngine cut Cenovus Energy from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Zacks Investment Research cut Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. Finally, Macquarie raised Cenovus Energy from an “underperform” rating to a “neutral” rating in a research note on Thursday, March 30th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $19.35.

About Cenovus Energy

Cenovus Energy Inc is a Canada-based integrated oil company. The Company is engaged in the business of developing, producing and marketing crude oil, natural gas liquids (NGL) and natural gas. Its segments include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations. Its Oil Sands segment includes the development and production of bitumen and natural gas in northeast Alberta.

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