Quadrature Capital Ltd Acquires New Stake in Cenovus Energy Inc (CVE)
Quadrature Capital Ltd acquired a new position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,000 shares of the oil and gas company’s stock, valued at approximately $329,000.
A number of other large investors have also added to or reduced their stakes in the business. ConocoPhillips purchased a new position in Cenovus Energy in the fourth quarter worth $1,899,040,000. TD Asset Management Inc. raised its position in Cenovus Energy by 1.6% in the third quarter. TD Asset Management Inc. now owns 43,832,015 shares of the oil and gas company’s stock worth $438,407,000 after acquiring an additional 683,250 shares in the last quarter. Burgundy Asset Management Ltd. raised its position in Cenovus Energy by 27.6% in the third quarter. Burgundy Asset Management Ltd. now owns 32,270,841 shares of the oil and gas company’s stock worth $323,483,000 after acquiring an additional 6,981,739 shares in the last quarter. Pzena Investment Management LLC raised its position in Cenovus Energy by 6.2% in the third quarter. Pzena Investment Management LLC now owns 23,437,925 shares of the oil and gas company’s stock worth $234,848,000 after acquiring an additional 1,358,962 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in Cenovus Energy by 46.3% in the third quarter. CIBC Asset Management Inc now owns 11,318,166 shares of the oil and gas company’s stock worth $113,177,000 after acquiring an additional 3,583,671 shares in the last quarter. Hedge funds and other institutional investors own 75.43% of the company’s stock.
Shares of Cenovus Energy Inc (CVE) opened at $7.54 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.13 and a quick ratio of 0.82. The firm has a market capitalization of $9,265.08, a price-to-earnings ratio of 3.29, a price-to-earnings-growth ratio of 6.42 and a beta of 0.86. Cenovus Energy Inc has a twelve month low of $6.76 and a twelve month high of $13.32.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be paid a dividend of $0.0398 per share. The ex-dividend date is Wednesday, March 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.11%. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s dividend payout ratio (DPR) is presently 6.99%.
Several research firms have issued reports on CVE. Scotiabank cut Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, November 15th. ValuEngine cut Cenovus Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday. AltaCorp Capital raised Cenovus Energy from a “sector perform” rating to an “outperform” rating in a report on Friday, February 16th. Desjardins reissued a “hold” rating on shares of Cenovus Energy in a report on Friday, January 12th. Finally, Zacks Investment Research lowered Cenovus Energy from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. Six research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Cenovus Energy has an average rating of “Hold” and a consensus price target of $14.42.
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Cenovus Energy Company Profile
Cenovus Energy Inc is a Canada-based integrated oil company. It operates in the business of developing, producing and marketing crude oil, Natural Gas Liquids (NGLs) and natural gas in Canada. The Company also conducts marketing activities and owns refining interests in the United States (U.S.). Its segments include: Oil Sands, which includes the development and production of bitumen and natural gas in northeast Alberta; Conventional, which includes the development and production of conventional crude oil, NGLs and natural gas in Alberta and Saskatchewan, including the heavy oil assets at Pelican Lake, the carbon dioxide (CO2) enhanced oil recovery (EOR) project at Weyburn and emerging tight oil opportunities; Refining and Marketing, which includes transporting and selling crude oil and natural gas and joint ownership of refineries in the U.S., as well as Corporate and Eliminations.
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