Pathstone Holdings LLC Acquires 35,105 Shares of Cenovus Energy Inc. (NYSE:CVE)

Pathstone Holdings LLC raised its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 46.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 110,440 shares of the oil and gas company’s stock after buying an additional 35,105 shares during the period. Pathstone Holdings LLC’s holdings in Cenovus Energy were worth $1,848,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Boston Partners grew its stake 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 acquiring an additional 8,438,979 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Cenovus Energy by 81.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 12,538,499 shares of the oil and gas company’s stock valued at $246,507,000 after buying an additional 5,613,320 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Cenovus Energy by 5.3% in the 2nd quarter. Mackenzie Financial Corp now owns 11,186,227 shares of the oil and gas company’s stock valued at $219,897,000 after buying an additional 562,663 shares during the last quarter. Ninepoint Partners LP boosted its holdings in shares of Cenovus Energy by 19.0% in the 2nd quarter. Ninepoint Partners LP now owns 7,500,000 shares of the oil and gas company’s stock valued at $147,450,000 after buying an additional 1,200,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Cenovus Energy by 22,396.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 7,429,036 shares of the oil and gas company’s stock valued at $146,054,000 after buying an additional 7,396,013 shares during the last quarter. 51.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CVE. TD Securities downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. BMO Capital Markets cut their price objective on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, StockNews.com downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cenovus Energy currently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Cenovus Energy Stock Up 1.5 %

Shares of NYSE CVE opened at $15.71 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. Cenovus Energy Inc. has a 52 week low of $14.69 and a 52 week high of $21.90. The stock has a market capitalization of $28.69 billion, a P/E ratio of 10.80 and a beta of 2.05. The stock’s fifty day moving average is $16.69 and its 200 day moving average is $18.27.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results 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. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The company had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $10.25 billion. During the same quarter last year, the business earned $0.72 earnings per share. Cenovus Energy’s revenue was down 17.9% on a year-over-year basis. Sell-side analysts forecast that Cenovus Energy Inc. will post 1.5 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.133 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.39%. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, December 13th. Cenovus Energy’s dividend payout ratio (DPR) is presently 36.55%.

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.