87,143 Shares in Cenovus Energy Inc $CVE Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd acquired a new stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 87,143 shares of the oil and gas company’s stock, valued at approximately $1,481,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVE. Jones Financial Companies Lllp grew its position in shares of Cenovus Energy by 574.8% in the 1st quarter. Jones Financial Companies Lllp now owns 21,607 shares of the oil and gas company’s stock worth $301,000 after acquiring an additional 18,405 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Cenovus Energy by 6.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 747,472 shares of the oil and gas company’s stock valued at $10,397,000 after acquiring an additional 44,125 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Cenovus Energy by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,217,726 shares of the oil and gas company’s stock valued at $16,561,000 after acquiring an additional 33,446 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in Cenovus Energy during the second quarter worth $27,000. Finally, Savant Capital LLC lifted its stake in Cenovus Energy by 115.3% during the second quarter. Savant Capital LLC now owns 37,579 shares of the oil and gas company’s stock worth $511,000 after purchasing an additional 20,128 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Stock Down 2.4%

Shares of Cenovus Energy stock opened at $22.75 on Friday. The business’s fifty day moving average price is $19.79 and its two-hundred day moving average price is $18.11. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.04. The company has a market capitalization of $42.77 billion, a P/E ratio of 14.87 and a beta of 0.43. Cenovus Energy Inc has a 1-year low of $10.23 and a 1-year high of $23.89.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.08. The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $10.89 billion. Cenovus Energy had a return on equity of 13.25% and a net margin of 7.92%.During the same quarter in the prior year, the business posted $0.07 earnings per share. As a group, research analysts forecast that Cenovus Energy Inc will post 1.49 EPS for the current year.

Cenovus Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.80 annualized dividend and a yield of 3.5%. Cenovus Energy’s dividend payout ratio (DPR) is presently 37.25%.

Analysts Set New Price Targets

CVE has been the subject of a number of research reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Cenovus Energy in a report on Monday, February 2nd. TD Securities restated a “buy” rating on shares of Cenovus Energy in a research report on Friday, February 20th. Zacks Research lowered shares of Cenovus Energy from a “hold” rating to a “strong sell” rating in a report on Friday, February 20th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Cenovus Energy in a research report on Tuesday, January 20th. Finally, Scotiabank upgraded shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.33.

Cenovus Energy Company Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.