Mraz Amerine & Associates Inc. Buys 80,607 Shares of Cenovus Energy Inc. (NYSE:CVE)

Mraz Amerine & Associates Inc. lifted its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 147.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,118 shares of the oil and gas company’s stock after purchasing an additional 80,607 shares during the quarter. Mraz Amerine & Associates Inc.’s holdings in Cenovus Energy were worth $2,261,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. SVB Wealth LLC grew its holdings in shares of Cenovus Energy by 2.6% during the 1st quarter. SVB Wealth LLC now owns 19,710 shares of the oil and gas company’s stock valued at $394,000 after purchasing an additional 507 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Cenovus Energy by 8.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company’s stock worth $170,000 after acquiring an additional 643 shares during the last quarter. Cetera Advisors LLC grew its holdings in Cenovus Energy by 5.2% during the 1st quarter. Cetera Advisors LLC now owns 16,347 shares of the oil and gas company’s stock worth $327,000 after acquiring an additional 801 shares during the last quarter. Gold Investment Management Ltd. grew its holdings in Cenovus Energy by 4.6% during the 1st quarter. Gold Investment Management Ltd. now owns 18,881 shares of the oil and gas company’s stock worth $378,000 after acquiring an additional 833 shares during the last quarter. Finally, Wolff Wiese Magana LLC grew its holdings in Cenovus Energy by 71.4% during the 1st quarter. Wolff Wiese Magana LLC now owns 2,400 shares of the oil and gas company’s stock worth $48,000 after acquiring an additional 1,000 shares during the last quarter. 51.19% of the stock is owned by institutional investors.

Cenovus Energy Trading Up 0.2 %

NYSE:CVE opened at $16.74 on Friday. The firm’s fifty day moving average is $17.52 and its 200-day moving average is $19.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.66. Cenovus Energy Inc. has a 52 week low of $14.69 and a 52 week high of $21.90. The firm has a market cap of $31.13 billion, a P/E ratio of 9.30 and a beta of 2.04.

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

Cenovus Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.132 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.15%. Cenovus Energy’s payout ratio is presently 29.44%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. StockNews.com lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Scotiabank reduced 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 report on Friday, July 12th. BMO Capital Markets reduced their target price on shares of Cenovus Energy from $33.00 to $31.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. 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 equities 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 an average rating of “Moderate Buy” and an average price target of $30.75.

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.