Metis Global Partners LLC Purchases 7,324 Shares of Cenovus Energy Inc. (NYSE:CVE)

Metis Global Partners LLC increased its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 9.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 82,429 shares of the oil and gas company’s stock after buying an additional 7,324 shares during the period. Metis Global Partners LLC’s holdings in Cenovus Energy were worth $1,250,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new position in Cenovus Energy during the 3rd quarter valued at $25,000. Sierra Ocean LLC acquired a new position in Cenovus Energy during the 4th quarter valued at $67,000. Blue Trust Inc. raised its stake in Cenovus Energy by 54.7% during the 4th quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company’s stock valued at $72,000 after purchasing an additional 1,677 shares during the last quarter. SevenBridge Financial Group LLC acquired a new position in Cenovus Energy during the 3rd quarter valued at $162,000. Finally, Empirical Asset Management LLC acquired a new position in Cenovus Energy during the 4th quarter valued at $174,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on CVE. StockNews.com cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. National Bank Financial cut shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 21st. Finally, Royal Bank of Canada dropped their price objective on shares of Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cenovus Energy has a consensus rating of “Moderate Buy” and an average price target of $29.25.

Cenovus Energy Trading Down 8.2 %

Shares of CVE stock opened at $12.71 on Tuesday. The stock has a market cap of $23.18 billion, a price-to-earnings ratio of 10.50 and a beta of 1.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. The firm has a fifty day moving average of $14.89 and a 200-day moving average of $16.05. Cenovus Energy Inc. has a 52-week low of $12.57 and a 52-week high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.27). The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. On average, equities research analysts forecast that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.1269 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend is Friday, March 14th. Cenovus Energy’s dividend payout ratio (DPR) is currently 40.50%.

Cenovus Energy Company 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.