Cenovus Energy Inc. (NYSE:CVE) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 1,289.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 430,781 shares of the oil and gas company’s stock after acquiring an additional 399,787 shares during the period. Assenagon Asset Management S.A.’s holdings in Cenovus Energy were worth $6,526,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CVE. SkyView Investment Advisors LLC raised its stake in shares of Cenovus Energy by 5.1% during the third quarter. SkyView Investment Advisors LLC now owns 43,632 shares of the oil and gas company’s stock worth $730,000 after purchasing an additional 2,122 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Cenovus Energy in the 3rd quarter worth $408,000. TD Private Client Wealth LLC lifted its stake in shares of Cenovus Energy by 3.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 40,194 shares of the oil and gas company’s stock worth $672,000 after acquiring an additional 1,236 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Cenovus Energy by 9.7% in the third quarter. Geode Capital Management LLC now owns 6,413,919 shares of the oil and gas company’s stock valued at $109,232,000 after acquiring an additional 568,732 shares in the last quarter. Finally, MidWestOne Financial Group Inc. purchased a new position in Cenovus Energy during the third quarter worth about $783,000. 51.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CVE shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $28.00 price objective on shares of Cenovus Energy in a report on Monday, January 6th. StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. TD Securities cut shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, BMO Capital Markets decreased their price target on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Cenovus Energy Stock Performance

Shares of CVE opened at $15.06 on Monday. Cenovus Energy Inc. has a 12-month low of $14.20 and a 12-month high of $21.90. The stock has a market cap of $27.48 billion, a P/E ratio of 10.38 and a beta of 2.01. 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 company has a 50-day moving average of $15.32 and a two-hundred day moving average of $17.07.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted 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 firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $10.25 billion. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. Cenovus Energy’s revenue was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. As a group, research analysts predict that Cenovus Energy Inc. will post 1.45 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a dividend of $0.133 per share. This represents a $0.53 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date was Friday, December 13th. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.13. Cenovus Energy’s dividend payout ratio (DPR) is currently 35.17%.

About Cenovus Energy

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.