Dynamic Technology Lab Private Ltd Acquires 13,837 Shares of Cenovus Energy Inc. (NYSE:CVE)

Dynamic Technology Lab Private Ltd increased its stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 8.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,851 shares of the oil and gas company’s stock after acquiring an additional 13,837 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Cenovus Energy were worth $2,825,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CVE. SVB Wealth LLC boosted its holdings in shares of Cenovus Energy by 2.6% in the 1st quarter. SVB Wealth LLC now owns 19,710 shares of the oil and gas company’s stock worth $394,000 after purchasing an additional 507 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Cenovus Energy by 8.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company’s stock worth $170,000 after buying an additional 643 shares during the period. Cetera Advisors LLC increased its position in Cenovus Energy by 5.2% during the first quarter. Cetera Advisors LLC now owns 16,347 shares of the oil and gas company’s stock valued at $327,000 after acquiring an additional 801 shares during the last quarter. First Hawaiian Bank raised its stake in shares of Cenovus Energy by 1.6% in the second quarter. First Hawaiian Bank now owns 69,273 shares of the oil and gas company’s stock valued at $1,362,000 after acquiring an additional 1,071 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Cenovus Energy by 1.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 76,940 shares of the oil and gas company’s stock worth $1,287,000 after acquiring an additional 1,209 shares during the last quarter. 51.19% of the stock is owned by institutional investors.

Cenovus Energy Stock Performance

Shares of NYSE:CVE opened at $16.19 on Monday. The firm’s 50 day simple moving average is $16.73 and its 200-day simple moving average is $18.34. 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 Inc. has a one year low of $14.69 and a one year high of $21.90. The firm has a market cap of $29.57 billion, a PE ratio of 11.17 and a beta of 2.05.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.34 by $0.08. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $10.25 billion. During the same period last year, the business posted $0.72 EPS. Cenovus Energy’s quarterly revenue was down 17.9% on a year-over-year basis. As a group, equities analysts predict that Cenovus Energy Inc. will post 1.5 EPS for the current year.

Cenovus Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.133 dividend. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Friday, December 13th. Cenovus Energy’s payout ratio is presently 36.55%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. TD Securities downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. Finally, BMO Capital Markets decreased their price target on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Cenovus Energy presently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

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.