Cenovus Energy Inc. (NYSE:CVE) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 273.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,440,237 shares of the oil and gas company’s stock after acquiring an additional 1,054,483 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.08% of Cenovus Energy worth $21,821,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Assetmark Inc. increased its stake in shares of Cenovus Energy by 12.3% during the third quarter. Assetmark Inc. now owns 135,362 shares of the oil and gas company’s stock worth $2,265,000 after purchasing an additional 14,814 shares in the last quarter. Atria Investments Inc boosted its holdings in Cenovus Energy by 18.8% in the 3rd quarter. Atria Investments Inc now owns 134,376 shares of the oil and gas company’s stock worth $2,248,000 after buying an additional 21,311 shares during the last quarter. Entropy Technologies LP purchased a new stake in Cenovus Energy during the 3rd quarter worth approximately $3,472,000. Aigen Investment Management LP acquired a new position in shares of Cenovus Energy during the third quarter valued at approximately $315,000. Finally, MQS Management LLC purchased a new position in shares of Cenovus Energy in the third quarter valued at approximately $536,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Cenovus Energy Stock Up 4.0 %

Shares of CVE opened at $12.99 on Wednesday. Cenovus Energy Inc. has a 52-week low of $12.07 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 stock has a fifty day simple moving average of $14.63 and a two-hundred day simple moving average of $15.78. The company has a market capitalization of $23.68 billion, a PE ratio of 10.73 and a beta of 1.99.

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

Cenovus Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.1269 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Friday, March 14th. Cenovus Energy’s dividend payout ratio is presently 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.