Panview Asian Equity Master Fund Grows Stake in Cenovus Energy Inc. (NYSE:CVE)

Panview Asian Equity Master Fund increased its holdings in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 63.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 515,000 shares of the oil and gas company’s stock after buying an additional 200,000 shares during the quarter. Cenovus Energy comprises 5.7% of Panview Asian Equity Master Fund’s portfolio, making the stock its 7th largest holding. Panview Asian Equity Master Fund’s holdings in Cenovus Energy were worth $8,575,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. NBC Securities Inc. acquired a new stake in shares of Cenovus Energy in the 3rd quarter worth approximately $34,000. Financial Perspectives Inc acquired a new stake in Cenovus Energy in the fourth quarter worth approximately $28,000. GHP Investment Advisors Inc. bought a new position in Cenovus Energy during the 4th quarter valued at $43,000. CWM LLC increased its position in shares of Cenovus Energy by 19.2% during the 3rd quarter. CWM LLC now owns 3,336 shares of the oil and gas company’s stock valued at $69,000 after purchasing an additional 537 shares during the period. Finally, Operose Advisors LLC bought a new stake in shares of Cenovus Energy in the 3rd quarter worth $79,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. UBS Group upgraded Cenovus Energy from a “neutral” rating to a “buy” rating in a report on Friday, February 23rd. Royal Bank of Canada restated an “outperform” rating and set a $28.00 price objective on shares of Cenovus Energy in a report on Friday, January 26th. StockNews.com upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. Finally, Morgan Stanley boosted their price target on shares of Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $26.67.

Cenovus Energy Stock Up 0.8 %

Cenovus Energy stock traded up $0.17 during mid-day trading on Tuesday, hitting $21.28. The company’s stock had a trading volume of 6,515,796 shares, compared to its average volume of 11,365,327. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.56 and a quick ratio of 0.91. Cenovus Energy Inc. has a 52-week low of $14.69 and a 52-week high of $21.90. The firm’s 50 day moving average is $19.16 and its 200 day moving average is $18.02. The company has a market cap of $39.68 billion, a PE ratio of 13.47 and a beta of 2.15.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Cenovus Energy had a net margin of 7.88% and a return on equity of 14.85%. The business had revenue of $9.65 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same period in the prior year, the firm earned $0.29 earnings per share. On average, analysts anticipate that Cenovus Energy Inc. will post 1.88 earnings per share for the current year.

Cenovus Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.1033 per share. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.10. This represents a $0.41 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Thursday, March 14th. Cenovus Energy’s payout ratio is currently 25.95%.

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.