Cenovus Energy Inc $CVE Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 37.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,428,074 shares of the oil and gas company’s stock after purchasing an additional 3,945,324 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Cenovus Energy were worth $245,133,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CVE. Sequoia Financial Advisors LLC boosted its position in shares of Cenovus Energy by 7.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 37,689 shares of the oil and gas company’s stock worth $640,000 after purchasing an additional 2,466 shares in the last quarter. Maryland State Retirement & Pension System increased its position in Cenovus Energy by 0.5% during the 3rd quarter. Maryland State Retirement & Pension System now owns 280,112 shares of the oil and gas company’s stock valued at $4,755,000 after buying an additional 1,353 shares in the last quarter. Caldwell Investment Management Ltd. purchased a new stake in Cenovus Energy in the third quarter valued at about $1,914,000. Lodestone Wealth Management LLC boosted its holdings in Cenovus Energy by 1.1% in the third quarter. Lodestone Wealth Management LLC now owns 111,442 shares of the oil and gas company’s stock worth $1,893,000 after acquiring an additional 1,264 shares in the last quarter. Finally, Penbrook Management LLC grew its stake in shares of Cenovus Energy by 3.8% during the third quarter. Penbrook Management LLC now owns 29,880 shares of the oil and gas company’s stock worth $508,000 after acquiring an additional 1,080 shares during the last quarter. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Down 0.4%

CVE stock opened at $18.02 on Tuesday. The company has a market capitalization of $33.94 billion, a P/E ratio of 14.77 and a beta of 0.49. Cenovus Energy Inc has a 12 month low of $10.23 and a 12 month high of $18.75. The firm’s fifty day simple moving average is $17.45 and its 200-day simple moving average is $16.59. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.73 and a quick ratio of 1.18.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Friday, October 31st. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.12. Cenovus Energy had a net margin of 6.23% and a return on equity of 10.73%. The company had revenue of $10.87 billion during the quarter, compared to the consensus estimate of $12.51 billion. During the same period in the previous year, the firm posted $0.42 earnings per share. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. As a group, equities research analysts forecast that Cenovus Energy Inc will post 1.49 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, December 15th. Cenovus Energy’s payout ratio is 46.72%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CVE. Royal Bank Of Canada upped their price objective on shares of Cenovus Energy from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, November 17th. Wall Street Zen upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Zacks Research upgraded shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 16th. The Goldman Sachs Group assumed coverage on shares of Cenovus Energy in a report on Friday, January 2nd. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Morgan Stanley restated an “overweight” rating on shares of Cenovus Energy in a research note on Thursday, November 20th. Four research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cenovus Energy currently has an average rating of “Buy” and a consensus price target of $27.00.

About Cenovus Energy

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.