Tejara Capital Ltd Takes Position in Cenovus Energy Inc. (NYSE:CVE)

Tejara Capital Ltd bought a new stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) in the 4th quarter, Holdings Channel.com reports. The firm bought 45,993 shares of the oil and gas company’s stock, valued at approximately $697,000.

Several other institutional investors and hedge funds have also made changes to their positions in CVE. Swiss National Bank lifted its holdings in shares of Cenovus Energy by 0.4% in the 3rd quarter. Swiss National Bank now owns 4,211,235 shares of the oil and gas company’s stock valued at $70,546,000 after purchasing an additional 17,900 shares during the last quarter. Pathstone Holdings LLC raised its stake in Cenovus Energy by 46.6% during the 3rd quarter. Pathstone Holdings LLC now owns 110,440 shares of the oil and gas company’s stock valued at $1,848,000 after acquiring an additional 35,105 shares during the last quarter. Smead Capital Management Inc. raised its stake in Cenovus Energy by 39.3% during the 3rd quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company’s stock valued at $257,831,000 after acquiring an additional 4,351,960 shares during the last quarter. Lingohr Asset Management GmbH raised its stake in Cenovus Energy by 19.1% during the 3rd quarter. Lingohr Asset Management GmbH now owns 39,276 shares of the oil and gas company’s stock valued at $658,000 after acquiring an additional 6,289 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Cenovus Energy by 1.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 76,940 shares of the oil and gas company’s stock valued at $1,287,000 after acquiring an additional 1,209 shares during the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Cenovus Energy Stock Performance

Shares of CVE stock opened at $13.64 on Tuesday. The company has a market cap of $24.86 billion, a price-to-earnings ratio of 11.27 and a beta of 1.99. The stock has a 50 day simple moving average of $14.47 and a 200-day simple moving average of $15.62. Cenovus Energy Inc. has a 12-month low of $12.08 and a 12-month high of $21.90. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.27). The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $11.08 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. On average, equities 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 will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.1269 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Friday, March 14th. Cenovus Energy’s dividend payout ratio is currently 40.50%.

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.