Pathstone Holdings LLC Acquires 35,105 Shares of Cenovus Energy Inc. (NYSE:CVE)

Pathstone Holdings LLC raised its holdings in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 46.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,440 shares of the oil and gas company’s stock after buying an additional 35,105 shares during the quarter. Pathstone Holdings LLC’s holdings in Cenovus Energy were worth $1,848,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVE. Boston Partners grew its holdings in shares of Cenovus Energy by 29.0% in the 1st quarter. Boston Partners now owns 37,540,511 shares of the oil and gas company’s stock worth $750,435,000 after purchasing an additional 8,438,979 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Cenovus Energy by 81.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 12,538,499 shares of the oil and gas company’s stock worth $246,507,000 after purchasing an additional 5,613,320 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Cenovus Energy by 5.3% in the 2nd quarter. Mackenzie Financial Corp now owns 11,186,227 shares of the oil and gas company’s stock worth $219,897,000 after purchasing an additional 562,663 shares during the last quarter. Ninepoint Partners LP grew its holdings in shares of Cenovus Energy by 19.0% in the 2nd quarter. Ninepoint Partners LP now owns 7,500,000 shares of the oil and gas company’s stock worth $147,450,000 after purchasing an additional 1,200,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Cenovus Energy by 22,396.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 7,429,036 shares of the oil and gas company’s stock worth $146,054,000 after purchasing an additional 7,396,013 shares during the last quarter. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Performance

Cenovus Energy stock opened at $15.71 on Thursday. 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 Inc. has a 1 year low of $14.69 and a 1 year high of $21.90. The company has a market cap of $28.69 billion, a PE ratio of 10.80 and a beta of 2.05. The company’s 50-day moving average is $16.69 and its two-hundred day moving average is $18.27.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its earnings results on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.08. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $10.25 billion. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. The company’s revenue was down 17.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 EPS. Equities analysts anticipate that Cenovus Energy Inc. will post 1.5 earnings per share for the current year.

Cenovus Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.133 dividend. The ex-dividend date is Friday, December 13th. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.13. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.39%. Cenovus Energy’s dividend payout ratio is 36.55%.

Wall Street Analyst Weigh In

CVE has been the topic of several research reports. BMO Capital Markets reduced their price target on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. StockNews.com downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, TD Securities downgraded shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.00.

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.