Cenovus Energy Inc $CVE Shares Acquired by Alberta Investment Management Corp

Alberta Investment Management Corp boosted its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 2.0% during the 4th quarter, HoldingsChannel reports. The firm owned 5,518,825 shares of the oil and gas company’s stock after buying an additional 106,225 shares during the quarter. Cenovus Energy makes up about 0.5% of Alberta Investment Management Corp’s investment portfolio, making the stock its 24th largest position. Alberta Investment Management Corp’s holdings in Cenovus Energy were worth $93,367,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ninepoint Partners LP grew its stake in Cenovus Energy by 490.0% during the 3rd quarter. Ninepoint Partners LP now owns 3,540,000 shares of the oil and gas company’s stock valued at $60,145,000 after acquiring an additional 2,940,000 shares in the last quarter. Lighthouse Investment Partners LLC lifted its position in shares of Cenovus Energy by 29.1% in the third quarter. Lighthouse Investment Partners LLC now owns 484,000 shares of the oil and gas company’s stock worth $8,216,000 after purchasing an additional 109,000 shares in the last quarter. Canoe Financial LP acquired a new stake in shares of Cenovus Energy during the fourth quarter worth approximately $102,662,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Cenovus Energy by 24.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 17,935,599 shares of the oil and gas company’s stock worth $303,470,000 after purchasing an additional 3,507,525 shares during the period. Finally, TD Asset Management Inc grew its position in Cenovus Energy by 3.6% during the fourth quarter. TD Asset Management Inc now owns 16,995,459 shares of the oil and gas company’s stock valued at $287,897,000 after purchasing an additional 595,518 shares in the last quarter. 51.19% of the stock is owned by institutional investors and hedge funds.

Cenovus Energy Trading Down 1.8%

Shares of CVE stock opened at $25.15 on Friday. Cenovus Energy Inc has a 12 month low of $13.47 and a 12 month high of $32.07. The company has a quick ratio of 1.00, a current ratio of 1.57 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $28.01 and its two-hundred day moving average is $23.16. The company has a market cap of $47.02 billion, a PE ratio of 13.82 and a beta of 0.34.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $9.47 billion. During the same period in the previous year, the company earned $0.47 earnings per share. Cenovus Energy’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts predict that Cenovus Energy Inc will post 3.15 EPS for the current year.

Cenovus Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.22 dividend. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 15th. This represents a $0.88 annualized dividend and a yield of 3.5%. Cenovus Energy’s payout ratio is 35.16%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. UBS Group reiterated a “buy” rating on shares of Cenovus Energy in a research note on Thursday, April 9th. Zacks Research lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Scotiabank restated an “outperform” rating on shares of Cenovus Energy in a report on Thursday, May 7th. Wall Street Zen raised shares of Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings upgraded Cenovus Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.25.

Cenovus Energy Company Profile

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.