Cenovus Energy Inc $CVE Stock Position Increased by Greenfield Seitz Capital Management LLC

Greenfield Seitz Capital Management LLC increased its holdings in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 4.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,339,954 shares of the oil and gas company’s stock after purchasing an additional 56,507 shares during the quarter. Cenovus Energy makes up approximately 7.3% of Greenfield Seitz Capital Management LLC’s holdings, making the stock its biggest holding. Greenfield Seitz Capital Management LLC’s holdings in Cenovus Energy were worth $22,766,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Allworth Financial LP raised its position in Cenovus Energy by 104.3% in the second quarter. Allworth Financial LP now owns 2,288 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 1,168 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Cenovus Energy by 74.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 1,384 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Cenovus Energy during the 3rd quarter worth about $50,000. EverSource Wealth Advisors LLC raised its holdings in Cenovus Energy by 57.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,912 shares of the oil and gas company’s stock valued at $67,000 after buying an additional 1,800 shares during the period. Finally, Advisors Asset Management Inc. purchased a new stake in Cenovus Energy in the 2nd quarter valued at about $78,000. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Trading Up 0.9%

CVE opened at $23.56 on Wednesday. The business has a fifty day moving average price of $20.68 and a 200 day moving average price of $18.46. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.04. Cenovus Energy Inc has a 12 month low of $10.23 and a 12 month high of $24.06. The stock has a market capitalization of $44.28 billion, a price-to-earnings ratio of 15.40 and a beta of 0.43.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.08. The company had revenue of $9.44 billion for the quarter, compared to analyst estimates 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 last year, the company earned $0.07 EPS. Sell-side analysts expect that Cenovus Energy Inc will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.80 annualized dividend and a yield of 3.4%. Cenovus Energy’s dividend payout ratio (DPR) is 37.91%.

Wall Street Analyst Weigh In

CVE has been the subject of several research analyst reports. Royal Bank Of Canada increased their target price on shares of Cenovus Energy from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Weiss Ratings restated a “hold (c)” rating on shares of Cenovus Energy in a report on Tuesday, January 27th. Morgan Stanley reaffirmed an “overweight” rating on shares of Cenovus Energy in a research report on Thursday, November 20th. Zacks Research cut Cenovus Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, February 20th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Cenovus Energy in a research note on Tuesday, January 20th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $29.67.

About Cenovus Energy

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.