Capital Research Global Investors Acquires 17,730,542 Shares of Cenovus Energy Inc $CVE

Capital Research Global Investors increased its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 16.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 124,313,513 shares of the oil and gas company’s stock after purchasing an additional 17,730,542 shares during the quarter. Capital Research Global Investors owned approximately 6.60% of Cenovus Energy worth $2,103,090,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVE. Jones Financial Companies Lllp boosted its holdings in Cenovus Energy by 574.8% during the first 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Cenovus Energy by 6.3% during the first 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 last quarter. Prudential Financial Inc. purchased a new position in Cenovus Energy during the second quarter worth about $525,000. EverSource Wealth Advisors LLC boosted its holdings in Cenovus Energy by 57.8% during the second 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 last quarter. Finally, Marshall Wace LLP purchased a new position in Cenovus Energy during the second quarter worth about $495,000. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Royal Bank Of Canada boosted their price target on shares of Cenovus Energy from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, May 19th. Weiss Ratings upgraded shares of Cenovus Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 1st. UBS Group restated a “buy” rating on shares of Cenovus Energy in a report on Thursday, April 9th. Zacks Research upgraded shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 22nd. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Cenovus Energy in a report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cenovus Energy presently has a consensus rating of “Buy” and an average price target of $35.25.

Cenovus Energy Trading Down 5.2%

NYSE:CVE opened at $28.25 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $52.82 billion, a PE ratio of 15.52 and a beta of 0.34. The firm’s 50 day moving average is $27.87 and its 200 day moving average is $22.54. Cenovus Energy Inc has a 12 month low of $13.29 and a 12 month high of $32.07.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. The company had revenue of $10.79 billion for the quarter, compared to analysts’ expectations of $9.47 billion. Cenovus Energy had a net margin of 9.53% and a return on equity of 15.29%. Cenovus Energy’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 EPS. Sell-side analysts expect that Cenovus Energy Inc will post 3.15 earnings per share for the current year.

Cenovus Energy Increases Dividend

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

Cenovus Energy 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.