Foundation Resource Management Inc. Buys 5,837 Shares of Cenovus Energy Inc. (NYSE:CVE)

Foundation Resource Management Inc. lifted its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 428,755 shares of the oil and gas company’s stock after purchasing an additional 5,837 shares during the period. Foundation Resource Management Inc.’s holdings in Cenovus Energy were worth $7,173,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CVE. Atria Investments Inc acquired a new position in Cenovus Energy during the first quarter worth $1,482,000. Manning & Napier Advisors LLC bought a new stake in shares of Cenovus Energy in the 2nd quarter valued at about $2,946,000. International Assets Investment Management LLC lifted its stake in Cenovus Energy by 39.9% in the 1st quarter. International Assets Investment Management LLC now owns 35,767 shares of the oil and gas company’s stock valued at $719,000 after purchasing an additional 10,200 shares during the last quarter. M&G Plc grew its holdings in Cenovus Energy by 2.4% during the second quarter. M&G Plc now owns 3,496,370 shares of the oil and gas company’s stock worth $69,013,000 after purchasing an additional 82,840 shares during the period. Finally, SkyView Investment Advisors LLC acquired a new position in Cenovus Energy during the first quarter worth approximately $733,000. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Stock Down 0.1 %

Shares of CVE opened at $17.85 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $32.78 billion, a PE ratio of 9.59 and a beta of 2.04. The firm’s 50 day moving average is $17.83 and its 200-day moving average is $19.29. Cenovus Energy Inc. has a 12 month low of $14.69 and a 12 month high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.13). Cenovus Energy had a return on equity of 16.61% and a net margin of 8.56%. The company had revenue of $10.88 billion during the quarter, compared to the consensus estimate of $9.78 billion. Equities research analysts forecast that Cenovus Energy Inc. will post 1.84 EPS for the current year.

Cenovus Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.132 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.53 annualized dividend and a dividend yield of 2.96%. Cenovus Energy’s payout ratio is 28.49%.

Analyst Upgrades and Downgrades

CVE has been the subject of a number of recent analyst reports. BMO Capital Markets cut their price objective on Cenovus Energy from $33.00 to $31.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Scotiabank reduced their price objective on shares of Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. TD Securities lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, StockNews.com downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Cenovus Energy has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

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.