Tejara Capital Ltd Acquires New Stake in Cenovus Energy Inc. (NYSE:CVE)

Tejara Capital Ltd acquired a new stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 45,993 shares of the oil and gas company’s stock, valued at approximately $697,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Corient Private Wealth LLC raised its holdings in shares of Cenovus Energy by 33.6% in the 4th quarter. Corient Private Wealth LLC now owns 69,627 shares of the oil and gas company’s stock valued at $1,055,000 after buying an additional 17,529 shares during the period. Intact Investment Management Inc. raised its holdings in shares of Cenovus Energy by 9.5% in the 4th quarter. Intact Investment Management Inc. now owns 2,611,948 shares of the oil and gas company’s stock valued at $39,588,000 after buying an additional 225,550 shares during the period. Aviso Financial Inc. raised its holdings in shares of Cenovus Energy by 33.7% in the 4th quarter. Aviso Financial Inc. now owns 12,671 shares of the oil and gas company’s stock valued at $192,000 after buying an additional 3,194 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Cenovus Energy by 34.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,835 shares of the oil and gas company’s stock valued at $225,000 after buying an additional 3,827 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in Cenovus Energy by 104.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 851 shares in the last quarter. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Trading Up 1.1 %

NYSE:CVE opened at $13.64 on Tuesday. The stock has a 50-day simple moving average of $14.47 and a 200-day simple moving average of $15.62. The stock has a market cap of $24.86 billion, a P/E ratio of 11.27 and a beta of 1.99. Cenovus Energy Inc. has a 1 year low of $12.08 and a 1 year high of $21.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59.

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). The business 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%. As a group, analysts anticipate that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.1269 per share. The ex-dividend date is Friday, March 14th. This represents a $0.51 annualized dividend and a dividend yield of 3.72%. Cenovus Energy’s dividend payout ratio is currently 40.50%.

Analysts Set New Price Targets

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

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.