Metis Global Partners LLC Has $1.25 Million Holdings in Cenovus Energy Inc. (NYSE:CVE)

Metis Global Partners LLC lifted its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 9.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,429 shares of the oil and gas company’s stock after purchasing an additional 7,324 shares during the period. Metis Global Partners LLC’s holdings in Cenovus Energy were worth $1,250,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CVE. Truvestments Capital LLC acquired a new position in Cenovus Energy during the 3rd quarter worth $25,000. Sierra Ocean LLC acquired a new position in Cenovus Energy during the 4th quarter worth $67,000. Blue Trust Inc. lifted its holdings in Cenovus Energy by 54.7% during the 4th quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company’s stock worth $72,000 after buying an additional 1,677 shares in the last quarter. SevenBridge Financial Group LLC acquired a new position in Cenovus Energy during the 3rd quarter worth $162,000. Finally, Empirical Asset Management LLC acquired a new position in Cenovus Energy during the 4th quarter worth $174,000. 51.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on CVE. Royal Bank of Canada cut their price target on Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. National Bank Financial downgraded Cenovus Energy from an “outperform” rating to a “sector perform” rating 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Cenovus Energy has a consensus rating of “Moderate Buy” and an average target price of $29.25.

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock opened at $12.71 on Tuesday. The company has a market capitalization of $23.18 billion, a PE ratio of 10.50 and a beta of 1.99. Cenovus Energy Inc. has a 12 month low of $12.57 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. The stock’s fifty day simple moving average is $14.89 and its 200 day simple moving average is $16.05.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, February 20th. The oil and gas company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.27). The business 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%. On average, research analysts predict that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.1269 per share. This represents a $0.51 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend is Friday, March 14th. Cenovus Energy’s payout ratio is presently 40.50%.

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.