Cenovus Energy Inc. (NYSE:CVE) Shares Purchased by Panview Asian Equity Master Fund

Panview Asian Equity Master Fund grew its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 63.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 515,000 shares of the oil and gas company’s stock after purchasing an additional 200,000 shares during the period. Cenovus Energy makes up about 5.7% of Panview Asian Equity Master Fund’s holdings, making the stock its 7th biggest holding. Panview Asian Equity Master Fund’s holdings in Cenovus Energy were worth $8,575,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Financial Perspectives Inc bought a new stake in Cenovus Energy in the fourth quarter valued at approximately $28,000. NBC Securities Inc. acquired a new position in shares of Cenovus Energy in the 3rd quarter worth approximately $34,000. GHP Investment Advisors Inc. bought a new stake in shares of Cenovus Energy in the 4th quarter valued at $43,000. CWM LLC increased its position in shares of Cenovus Energy by 19.2% during the third quarter. CWM LLC now owns 3,336 shares of the oil and gas company’s stock worth $69,000 after buying an additional 537 shares during the period. Finally, Operose Advisors LLC bought a new position in Cenovus Energy during the third quarter worth $79,000. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Stock Up 0.8 %

Shares of CVE traded up $0.17 during trading hours on Tuesday, hitting $21.28. The stock had a trading volume of 6,515,796 shares, compared to its average volume of 11,365,327. Cenovus Energy Inc. has a 1-year low of $14.69 and a 1-year high of $21.90. The firm has a market capitalization of $39.68 billion, a P/E ratio of 13.47 and a beta of 2.15. The firm has a 50 day simple moving average of $19.16 and a 200-day simple moving average of $18.02. 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 (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $9.65 billion during the quarter, compared to analysts’ expectations of $9.73 billion. Cenovus Energy had a return on equity of 14.85% and a net margin of 7.88%. During the same quarter last year, the firm posted $0.29 earnings per share. Sell-side analysts predict that Cenovus Energy Inc. will post 1.88 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

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

Analyst Upgrades and Downgrades

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

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.