De Lisle Partners LLP Buys 120,000 Shares of Cenovus Energy Inc. (NYSE:CVE)

De Lisle Partners LLP grew its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 80.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 270,000 shares of the oil and gas company’s stock after acquiring an additional 120,000 shares during the quarter. De Lisle Partners LLP’s holdings in Cenovus Energy were worth $4,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CVE. Boston Partners boosted 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 buying an additional 8,438,979 shares during the last quarter. Smead Capital Management Inc. grew its holdings in Cenovus Energy by 39.3% during the third quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company’s stock valued at $257,831,000 after purchasing an additional 4,351,960 shares during the period. 1832 Asset Management L.P. increased its position in Cenovus Energy by 81.1% in the second 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 buying an additional 5,613,320 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Cenovus Energy by 5.3% in the second quarter. Mackenzie Financial Corp now owns 11,186,227 shares of the oil and gas company’s stock valued at $219,897,000 after buying an additional 562,663 shares during the period. Finally, Ninepoint Partners LP boosted its position in Cenovus Energy by 19.0% during the second 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 period. Institutional investors own 51.19% of the company’s stock.

Analysts Set New Price Targets

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

Cenovus Energy Trading Up 1.5 %

NYSE:CVE opened at $15.71 on Thursday. The firm has a market capitalization of $28.69 billion, a P/E ratio of 10.83 and a beta of 2.05. Cenovus Energy Inc. has a 52 week low of $14.69 and a 52 week high of $21.90. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The company has a fifty day moving average of $16.69 and a 200 day moving average of $18.27.

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 for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $10.25 billion. During the same period in the prior year, the business posted $0.72 earnings per share. Cenovus Energy’s revenue for the quarter was down 17.9% on a year-over-year basis. On average, research analysts predict that Cenovus Energy Inc. will post 1.5 earnings per share for the current year.

Cenovus Energy Increases Dividend

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

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.