Alpha Paradigm Partners LLC Takes $249,000 Position in Cenovus Energy Inc. (NYSE:CVE)

Alpha Paradigm Partners LLC purchased a new stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 25,991 shares of the oil and gas company’s stock, valued at approximately $249,000.

Other institutional investors also recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new position in shares of Cenovus Energy in the first quarter valued at approximately $25,000. Acadian Asset Management LLC acquired a new position in shares of Cenovus Energy in the first quarter valued at approximately $43,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Cenovus Energy in the second quarter valued at approximately $96,000. Woodward Diversified Capital LLC acquired a new position in shares of Cenovus Energy in the second quarter valued at approximately $107,000. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Cenovus Energy by 15.6% in the second quarter. Quadrant Capital Group LLC now owns 14,632 shares of the oil and gas company’s stock valued at $140,000 after buying an additional 1,974 shares during the period. Institutional investors own 49.30% of the company’s stock.

CVE has been the subject of several research analyst reports. Barclays upped their price target on shares of Cenovus Energy from C$11.00 to C$12.00 and gave the company an “equal weight” rating in a report on Friday, July 16th. BMO Capital Markets restated a “buy” rating on shares of Cenovus Energy in a report on Monday, September 27th. Raymond James increased their target price on shares of Cenovus Energy from C$13.50 to C$14.00 and gave the stock a “market perform” rating in a report on Friday, July 30th. Scotiabank increased their target price on shares of Cenovus Energy from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a report on Thursday, July 15th. Finally, Credit Suisse Group upgraded shares of Cenovus Energy from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $13.00 to $15.00 in a report on Monday, July 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cenovus Energy presently has a consensus rating of “Buy” and an average price target of $13.71.

Shares of CVE opened at $11.26 on Thursday. The firm has a market capitalization of $22.72 billion, a PE ratio of -225.20 and a beta of 3.20. The company’s 50-day moving average is $8.98 and its 200-day moving average is $8.64. Cenovus Energy Inc. has a fifty-two week low of $3.15 and a fifty-two week high of $11.83. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.20 and a quick ratio of 0.71.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Wednesday, July 28th. The oil and gas company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.18). The company had revenue of $8.61 billion during the quarter. Cenovus Energy had a net margin of 0.43% and a negative return on equity of 2.61%. Analysts predict that Cenovus Energy Inc. will post 0.8 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 30th. Stockholders of record on Wednesday, September 15th were given a $0.0139 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Tuesday, September 14th. Cenovus Energy’s payout ratio is presently -3.77%.

Cenovus Energy Company Profile

Cenovus Energy, Inc engages in provision of gas and oil. Its activities include development, production, and marketing of crude oil, natural gas liquids (NGLS), and natural gas in Canada. The firm operates through four segments: Oil Sands, Conventional, Refining & Marketing, and Corporate & Eliminations.

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Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

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