Van ECK Associates Corp Acquires 1,085 Shares of Cenovus Energy Inc. (NYSE:CVE)

Van ECK Associates Corp lifted its stake in Cenovus Energy Inc. (NYSE:CVE – Get Rating) (TSE:CVE) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,369 shares of the oil and gas company’s stock after purchasing an additional 1,085 shares during the period. Van ECK Associates Corp’s holdings in Cenovus Energy were worth $434,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CVE. Herr Investment Group LLC bought a new position in Cenovus Energy in the 4th quarter worth about $4,155,000. Boston Partners increased its holdings in Cenovus Energy by 16.4% during the 4th quarter. Boston Partners now owns 26,325,850 shares of the oil and gas company’s stock worth $569,028,000 after purchasing an additional 3,705,805 shares during the period. Metis Global Partners LLC raised its position in Cenovus Energy by 26.0% during the 4th quarter. Metis Global Partners LLC now owns 56,039 shares of the oil and gas company’s stock valued at $1,087,000 after purchasing an additional 11,553 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of Cenovus Energy by 1.4% in the 4th quarter. LPL Financial LLC now owns 133,612 shares of the oil and gas company’s stock worth $2,593,000 after buying an additional 1,852 shares during the period. Finally, Zweig DiMenna Associates LLC increased its stake in shares of Cenovus Energy by 0.7% during the fourth quarter. Zweig DiMenna Associates LLC now owns 735,275 shares of the oil and gas company’s stock valued at $14,272,000 after buying an additional 5,282 shares during the period. Hedge funds and other institutional investors own 49.27% of the company’s stock.

Cenovus Energy Trading Up 2.3 %

Shares of Cenovus Energy stock opened at $16.23 on Tuesday. Cenovus Energy Inc. has a 12-month low of $14.44 and a 12-month high of $24.91. The firm’s 50 day simple moving average is $17.00 and its two-hundred day simple moving average is $18.51. The company has a current ratio of 1.63, a quick ratio of 0.94 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $30.97 billion, a price-to-earnings ratio of 7.80 and a beta of 2.24.

Cenovus Energy (NYSE:CVE – Get Rating) (TSE:CVE) last announced its quarterly earnings data on Thursday, February 16th. The oil and gas company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.19). The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $9.77 billion. Cenovus Energy had a net margin of 8.75% and a return on equity of 20.38%. Analysts predict that Cenovus Energy Inc. will post 1.88 EPS for the current year.

Cenovus Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be issued a $0.104 dividend. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.08. This represents a $0.42 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Wednesday, June 14th. Cenovus Energy’s dividend payout ratio is 19.71%.

Analyst Upgrades and Downgrades

CVE has been the topic of several recent research reports. CIBC dropped their target price on shares of Cenovus Energy from C$32.00 to C$31.00 in a report on Tuesday, January 17th. BMO Capital Markets cut their target price on Cenovus Energy from C$33.00 to C$32.00 in a research note on Friday, February 17th. StockNews.com assumed coverage on shares of Cenovus Energy in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, Scotiabank downgraded shares of Cenovus Energy from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, April 14th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.33.

About Cenovus Energy

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Cenovus Energy, Inc is a Canadian-based integrated energy company, which engages in the provision of gas and oil. It operates through the following segments: Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Corporate and Eliminations. The Oil Sands segment is involved in the development and production of bitumen and heavy oil in northern Alberta and Saskatchewan.