Capital International Investors Buys 1,903,432 Shares of Cenovus Energy Inc $CVE

Capital International Investors lifted its holdings in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 3.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 50,979,140 shares of the oil and gas company’s stock after acquiring an additional 1,903,432 shares during the period. Capital International Investors’ holdings in Cenovus Energy were worth $862,505,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parallel Advisors LLC increased its position in shares of Cenovus Energy by 4.7% during the 4th quarter. Parallel Advisors LLC now owns 17,006 shares of the oil and gas company’s stock worth $288,000 after purchasing an additional 763 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in shares of Cenovus Energy by 3.9% during the 4th quarter. J.W. Cole Advisors Inc. now owns 13,407 shares of the oil and gas company’s stock worth $227,000 after purchasing an additional 500 shares in the last quarter. Fore Capital LLC acquired a new stake in shares of Cenovus Energy during the 4th quarter worth about $1,100,000. Avise Financial Cooperative Inc. acquired a new stake in shares of Cenovus Energy during the 4th quarter worth about $225,000. Finally, Vise Technologies Inc. increased its position in shares of Cenovus Energy by 23.9% during the 4th quarter. Vise Technologies Inc. now owns 37,074 shares of the oil and gas company’s stock worth $627,000 after purchasing an additional 7,160 shares in the last quarter. 51.19% of the stock is owned by institutional investors.

Cenovus Energy Stock Up 0.1%

Cenovus Energy stock opened at $28.25 on Monday. The company’s 50 day simple moving average is $27.87 and its 200 day simple moving average is $22.57. Cenovus Energy Inc has a fifty-two week low of $13.29 and a fifty-two week high of $32.07. The firm has a market capitalization of $52.82 billion, a price-to-earnings ratio of 15.52 and a beta of 0.34. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.57 and a quick ratio of 1.00.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.05. Cenovus Energy had a net margin of 9.53% and a return on equity of 15.29%. The business had revenue of $10.79 billion for the quarter, compared to analyst estimates of $9.47 billion. During the same quarter last year, the firm earned $0.47 EPS. Cenovus Energy’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cenovus Energy Inc will post 3.15 EPS for the current year.

Cenovus Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 15th. Cenovus Energy’s dividend payout ratio is 32.42%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CVE. Weiss Ratings upgraded shares of Cenovus Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 1st. Veritas upgraded shares of Cenovus Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. Raymond James Financial cut shares of Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Cenovus Energy in a research report on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $35.25.

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.