Point72 Europe London LLP Increases Stock Position in Cenovus Energy Inc. (NYSE:CVE)

Point72 Europe London LLP raised its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 72.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 536,583 shares of the oil and gas company’s stock after acquiring an additional 226,283 shares during the period. Point72 Europe London LLP’s holdings in Cenovus Energy were worth $10,542,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Banque Cantonale Vaudoise acquired a new stake in Cenovus Energy in the 1st quarter valued at approximately $30,000. Wolff Wiese Magana LLC grew its stake in shares of Cenovus Energy by 71.4% in the first quarter. Wolff Wiese Magana LLC now owns 2,400 shares of the oil and gas company’s stock valued at $48,000 after buying an additional 1,000 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Cenovus Energy by 124.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,558 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 1,417 shares in the last quarter. American National Bank purchased a new stake in shares of Cenovus Energy in the 1st quarter valued at $52,000. Finally, Lindbrook Capital LLC lifted its stake in Cenovus Energy by 17.6% during the 1st quarter. Lindbrook Capital LLC now owns 4,240 shares of the oil and gas company’s stock worth $85,000 after acquiring an additional 636 shares in the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CVE shares. Raymond James raised Cenovus Energy to a “moderate buy” rating in a research report on Tuesday, May 28th. StockNews.com cut shares of Cenovus Energy from a “strong-buy” rating to a “buy” rating in a report on Friday, July 26th. Finally, Scotiabank cut their target price on shares of Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cenovus Energy presently has an average rating of “Buy” and a consensus price target of $30.67.

Cenovus Energy Price Performance

Shares of NYSE CVE opened at $17.37 on Wednesday. The stock’s 50-day moving average is $18.40 and its two-hundred day moving average is $19.43. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 1.00. The company has a market cap of $32.23 billion, a price-to-earnings ratio of 9.65 and a beta of 2.05. Cenovus Energy Inc. has a 1-year low of $14.69 and a 1-year high of $21.90.

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

Cenovus Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.132 per share. The ex-dividend date is Friday, September 13th. This represents a $0.53 annualized dividend and a dividend yield of 3.04%. Cenovus Energy’s dividend payout ratio (DPR) is currently 29.44%.

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.