Capital International Sarl Has $23.63 Million Stake in Cenovus Energy Inc $CVE

Capital International Sarl decreased its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 1.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,395,055 shares of the oil and gas company’s stock after selling 23,542 shares during the period. Capital International Sarl owned about 0.07% of Cenovus Energy worth $23,628,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVE. Jones Financial Companies Lllp boosted its stake in Cenovus Energy by 574.8% in the 1st quarter. Jones Financial Companies Lllp now owns 21,607 shares of the oil and gas company’s stock worth $301,000 after purchasing an additional 18,405 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Cenovus Energy by 6.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 747,472 shares of the oil and gas company’s stock worth $10,397,000 after purchasing an additional 44,125 shares during the period. Prudential Financial Inc. acquired a new position in Cenovus Energy in the 2nd quarter worth approximately $525,000. EverSource Wealth Advisors LLC boosted its stake in Cenovus Energy by 57.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,912 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 1,800 shares during the period. Finally, Marshall Wace LLP acquired a new position in Cenovus Energy in the 2nd quarter worth approximately $495,000. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Stock Performance

NYSE:CVE opened at $28.25 on Friday. The firm’s 50-day moving average is $27.87 and its 200-day moving average is $22.54. Cenovus Energy Inc has a 52-week low of $13.29 and a 52-week high of $32.07. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.57. The company has a market cap of $52.82 billion, a price-to-earnings ratio of 15.52 and a beta of 0.34.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported $0.61 earnings per share (EPS) 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 company had revenue of $10.79 billion for the quarter, compared to the consensus estimate of $9.47 billion. During the same quarter in the previous year, the firm posted $0.47 EPS. The business’s revenue was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that Cenovus Energy Inc will post 3.15 earnings per share for the current year.

Cenovus Energy Increases Dividend

The business 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 dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, June 15th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.20. Cenovus Energy’s payout ratio is presently 32.42%.

Analyst Ratings Changes

CVE has been the subject of a number of research reports. UBS Group reissued a “buy” rating on shares of Cenovus Energy in a research note on Thursday, April 9th. Scotiabank reaffirmed an “outperform” rating on shares of Cenovus Energy in a research note on Thursday, May 7th. Raymond James Financial lowered shares of Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, May 6th. 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, Lake Street Capital set a $36.00 price objective on shares of Cenovus Energy in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Cenovus Energy presently has an average rating of “Buy” and a consensus target price 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.