Headlands Technologies LLC Makes New $209,000 Investment in Cenovus Energy Inc. (NYSE:CVE)

Headlands Technologies LLC purchased a new position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,763 shares of the oil and gas company’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVE. Farther Finance Advisors LLC boosted its holdings in shares of Cenovus Energy by 104.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 851 shares during the last quarter. Sierra Ocean LLC acquired a new stake in Cenovus Energy during the fourth quarter worth $67,000. Blue Trust Inc. increased its position in shares of Cenovus Energy by 54.7% during the fourth quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company’s stock valued at $72,000 after acquiring an additional 1,677 shares during the last quarter. Empirical Asset Management LLC purchased a new stake in Cenovus Energy in the fourth quarter valued at approximately $174,000. Finally, SVB Wealth LLC acquired a new position in Cenovus Energy during the 4th quarter worth about $182,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Stock Performance

Shares of CVE stock opened at $11.25 on Friday. Cenovus Energy Inc. has a 52-week low of $11.11 and a 52-week high of $21.90. The stock’s 50-day moving average price is $14.09 and its 200 day moving average price is $15.32. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $20.51 billion, a PE ratio of 9.30 and a beta of 1.46.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.27). The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. As a group, equities research analysts forecast that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.1269 per share. The ex-dividend date was Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.51%. Cenovus Energy’s dividend payout ratio (DPR) is 40.50%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CVE. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 price objective on shares of Cenovus Energy in a report on Wednesday. StockNews.com cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. Morgan Stanley restated an “overweight” rating on shares of Cenovus Energy in a research note on Wednesday, March 26th. National Bank Financial downgraded Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, February 21st. Finally, Scotiabank upgraded shares of Cenovus Energy to a “strong-buy” rating in a research note on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $29.00.

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.