Alpha Paradigm Partners LLC Acquires New Holdings in Cenovus Energy Inc. (NYSE:CVE)

Alpha Paradigm Partners LLC acquired a new stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) in the second quarter, HoldingsChannel reports. The firm acquired 25,991 shares of the oil and gas company’s stock, valued at approximately $249,000.

A number of other institutional investors have also recently added to or reduced their stakes in CVE. Advisor Partners LLC increased its stake in shares of Cenovus Energy by 1.9% in the 2nd quarter. Advisor Partners LLC now owns 65,514 shares of the oil and gas company’s stock valued at $628,000 after acquiring an additional 1,206 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Cenovus Energy by 15.6% in the 2nd quarter. Quadrant Capital Group LLC now owns 14,632 shares of the oil and gas company’s stock valued at $140,000 after acquiring an additional 1,974 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Cenovus Energy by 2.8% in the 2nd quarter. American Century Companies Inc. now owns 83,831 shares of the oil and gas company’s stock valued at $802,000 after acquiring an additional 2,266 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Cenovus Energy in the 1st quarter valued at $25,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Cenovus Energy in the 1st quarter valued at $43,000. Hedge funds and other institutional investors own 49.30% of the company’s stock.

Shares of CVE opened at $11.26 on Thursday. The business’s 50-day moving average price is $8.98 and its 200-day moving average price is $8.64. Cenovus Energy Inc. has a twelve month low of $3.15 and a twelve month high of $11.83. The stock has a market cap of $22.72 billion, a PE ratio of -225.20 and a beta of 3.20. The company has a quick ratio of 0.71, a current ratio of 1.20 and a debt-to-equity ratio of 0.55.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Wednesday, July 28th. The oil and gas company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.18). Cenovus Energy had a negative return on equity of 2.61% and a net margin of 0.43%. The business had revenue of $8.61 billion for the quarter. Analysts expect that Cenovus Energy Inc. will post 0.8 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 30th. Stockholders of record on Wednesday, September 15th were issued a dividend of $0.0139 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Tuesday, September 14th. Cenovus Energy’s payout ratio is -3.77%.

Several analysts recently issued reports on CVE shares. National Bank Financial lifted their price target on shares of Cenovus Energy from C$19.50 to C$20.00 and gave the company an “outperform” rating in a research report on Monday, July 19th. BMO Capital Markets reissued a “buy” rating on shares of Cenovus Energy in a research report on Monday, September 27th. Barclays lifted their price objective on shares of Cenovus Energy from C$11.00 to C$12.00 and gave the stock an “equal weight” rating in a report on Friday, July 16th. Zacks Investment Research downgraded shares of Cenovus Energy from a “hold” rating to a “strong sell” rating and set a $8.50 price objective on the stock. in a report on Wednesday, September 29th. Finally, The Goldman Sachs Group lifted their price objective on shares of Cenovus Energy from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Tuesday, September 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Cenovus Energy currently has a consensus rating of “Buy” and a consensus target price of $13.71.

About Cenovus Energy

Cenovus Energy, Inc engages in provision of gas and oil. Its activities include development, production, and marketing of crude oil, natural gas liquids (NGLS), and natural gas in Canada. The firm operates through four segments: Oil Sands, Conventional, Refining & Marketing, and Corporate & Eliminations.

Featured Article: What is a conference call?

Want to see what other hedge funds are holding CVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE).

Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

Receive News & Ratings for Cenovus Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy and related companies with MarketBeat.com's FREE daily email newsletter.