Cenovus Energy Inc. (NYSE:CVE) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 273.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,440,237 shares of the oil and gas company’s stock after buying an additional 1,054,483 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cenovus Energy were worth $21,821,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CVE. Truvestments Capital LLC acquired a new stake in shares of Cenovus Energy during the third quarter valued at about $25,000. Sierra Ocean LLC purchased a new position in shares of Cenovus Energy during the 4th quarter worth approximately $67,000. Blue Trust Inc. raised its position in Cenovus Energy by 54.7% in the fourth quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company’s stock valued at $72,000 after purchasing an additional 1,677 shares during the period. SevenBridge Financial Group LLC acquired a new position in Cenovus Energy during the third quarter worth $162,000. Finally, Empirical Asset Management LLC purchased a new position in shares of Cenovus Energy during the fourth quarter worth $174,000. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Price Performance

Shares of NYSE CVE opened at $12.99 on Wednesday. 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 company has a market cap of $23.68 billion, a price-to-earnings ratio of 10.73 and a beta of 1.99. The stock’s 50-day moving average is $14.63 and its two-hundred day moving average is $15.78. Cenovus Energy Inc. has a 1-year low of $12.07 and a 1-year high of $21.90.

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

Cenovus Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.1269 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 3.91%. Cenovus Energy’s payout ratio is 40.50%.

Analyst Ratings Changes

Several research firms recently issued reports on CVE. StockNews.com downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. National Bank Financial lowered shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 21st. Finally, Royal Bank of Canada lowered their price objective on shares of Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.25.

Cenovus Energy Company 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.