Metis Global Partners LLC Has $1.17 Million Holdings in Cenovus Energy Inc. (NYSE:CVE)

Metis Global Partners LLC increased its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 10.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,396 shares of the oil and gas company’s stock after purchasing an additional 6,534 shares during the quarter. Metis Global Partners LLC’s holdings in Cenovus Energy were worth $1,173,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CVE. Financial Perspectives Inc acquired a new stake in shares of Cenovus Energy in the 4th quarter valued at approximately $28,000. Headlands Technologies LLC bought a new position in shares of Cenovus Energy in the 4th quarter valued at about $33,000. NBC Securities Inc. acquired a new position in shares of Cenovus Energy during the 3rd quarter worth about $34,000. GHP Investment Advisors Inc. bought a new stake in shares of Cenovus Energy in the 4th quarter valued at about $43,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in Cenovus Energy in the 4th quarter valued at about $57,000. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Up 0.7 %

CVE stock opened at $20.75 on Thursday. Cenovus Energy Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $21.90. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.70 and a quick ratio of 1.01. The stock has a market capitalization of $38.70 billion, a price-to-earnings ratio of 11.53 and a beta of 2.10. The business’s fifty day moving average price is $19.93 and its two-hundred day moving average price is $18.04.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Cenovus Energy had a net margin of 8.73% and a return on equity of 16.53%. The business had revenue of $9.65 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same period last year, the firm earned $0.29 earnings per share. On average, equities analysts anticipate that Cenovus Energy Inc. will post 1.88 earnings per share for the current year.

Cenovus Energy Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.0981 dividend. This represents a $1.18 annualized dividend and a dividend yield of 5.67%. The ex-dividend date of this dividend is Thursday, May 16th. Cenovus Energy’s dividend payout ratio (DPR) is currently 22.78%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. UBS Group upgraded Cenovus Energy from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. StockNews.com raised shares of Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 3rd. Morgan Stanley increased their price objective on shares of Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $28.00 target price on shares of Cenovus Energy in a report on Friday, January 26th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cenovus Energy has an average rating of “Buy” and a consensus price target of $26.67.

Cenovus Energy 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.