De Lisle Partners LLP Purchases 120,000 Shares of Cenovus Energy Inc. (NYSE:CVE)

De Lisle Partners LLP boosted its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 80.0% in the third quarter, Holdings Channel.com reports. The firm owned 270,000 shares of the oil and gas company’s stock after buying an additional 120,000 shares during the quarter. De Lisle Partners LLP’s holdings in Cenovus Energy were worth $4,518,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in shares of Cenovus Energy during the 3rd quarter valued at $25,000. Blue Trust Inc. grew its holdings in Cenovus Energy by 640.3% in the third quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 2,651 shares during the period. SevenBridge Financial Group LLC purchased a new stake in Cenovus Energy in the third quarter worth about $162,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of 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 valued at $170,000 after purchasing an additional 643 shares in the last quarter. Finally, Everpar Advisors LLC bought a new stake in shares of Cenovus Energy in the 2nd quarter worth approximately $211,000. Institutional investors own 51.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CVE. BMO Capital Markets reduced their price target on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. StockNews.com downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, TD Securities lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Cenovus Energy Stock Performance

Shares of NYSE CVE opened at $15.71 on Thursday. 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 firm’s 50-day moving average price is $16.69 and its 200-day moving average price is $18.27. Cenovus Energy Inc. has a 52-week low of $14.69 and a 52-week high of $21.90. The company has a market cap of $28.69 billion, a PE ratio of 10.83 and a beta of 2.05.

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

Cenovus Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.53 dividend on an annualized basis and a yield of 3.39%. Cenovus Energy’s dividend payout ratio is currently 36.55%.

Cenovus Energy Company 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.