Cenovus Energy Inc. (NYSE:CVE) Shares Purchased by Adage Capital Partners GP L.L.C.

by · The Markets Daily

Adage Capital Partners GP L.L.C. boosted its stake in Cenovus Energy Inc. (NYSE:CVE – Free Report) (TSE:CVE) by 4.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,080,000 shares of the oil and gas company’s stock after buying an additional 120,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.17% of Cenovus Energy worth $46,662,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Capital World Investors raised its stake in shares of Cenovus Energy by 15.8% in the 4th quarter. Capital World Investors now owns 191,412,590 shares of the oil and gas company’s stock valued at $2,901,131,000 after acquiring an additional 26,127,617 shares during the period. Dimensional Fund Advisors LP raised its position in Cenovus Energy by 48.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,001,002 shares of the oil and gas company’s stock valued at $196,935,000 after purchasing an additional 4,220,663 shares during the period. Franklin Resources Inc. lifted its stake in Cenovus Energy by 105.0% during the fourth quarter. Franklin Resources Inc. now owns 4,337,551 shares of the oil and gas company’s stock worth $65,667,000 after purchasing an additional 2,221,549 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Cenovus Energy by 29.2% during the fourth quarter. Geode Capital Management LLC now owns 8,287,334 shares of the oil and gas company’s stock worth $128,783,000 after buying an additional 1,873,415 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Cenovus Energy by 36.3% in the fourth quarter. Renaissance Technologies LLC now owns 4,378,894 shares of the oil and gas company’s stock valued at $66,340,000 after buying an additional 1,166,294 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CVE. Morgan Stanley reissued an “overweight” rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price target on shares of Cenovus Energy in a research report on Friday, April 11th. Scotiabank upgraded shares of Cenovus Energy to a “strong-buy” rating in a report on Wednesday, March 19th. 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, StockNews.com cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.00.

Read Our Latest Stock Analysis on Cenovus Energy

Cenovus Energy Stock Up 1.2 %

Shares of NYSE:CVE opened at $12.11 on Friday. Cenovus Energy Inc. has a fifty-two week low of $10.23 and a fifty-two week high of $21.58. The firm’s 50 day moving average price is $13.02 and its 200 day moving average price is $14.72. 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 market cap of $22.07 billion, a price-to-earnings ratio of 10.01 and a beta of 1.46.

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

Cenovus Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.1269 per share. This represents a $0.51 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Friday, March 14th. Cenovus Energy’s dividend payout ratio (DPR) is 40.50%.

About Cenovus Energy

(Free Report)

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.

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