Capital International Investors Raises Position in Cenovus Energy Inc. (NYSE:CVE)

Capital International Investors grew its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 216.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 33,927,436 shares of the oil and gas company’s stock after buying an additional 23,202,018 shares during the period. Capital International Investors’ holdings in Cenovus Energy were worth $678,250,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Panview Asian Equity Master Fund grew its stake in shares of Cenovus Energy by 63.5% during the fourth quarter. Panview Asian Equity Master Fund now owns 515,000 shares of the oil and gas company’s stock valued at $8,575,000 after buying an additional 200,000 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Cenovus Energy by 152.1% in the fourth quarter. BNP Paribas Financial Markets now owns 321,802 shares of the oil and gas company’s stock worth $5,358,000 after purchasing an additional 194,151 shares in the last quarter. Mackenzie Financial Corp grew its stake in Cenovus Energy by 4.4% in the fourth quarter. Mackenzie Financial Corp now owns 11,053,328 shares of the oil and gas company’s stock worth $184,278,000 after purchasing an additional 462,273 shares in the last quarter. TD Asset Management Inc grew its stake in Cenovus Energy by 26.5% in the fourth quarter. TD Asset Management Inc now owns 42,191,779 shares of the oil and gas company’s stock worth $706,503,000 after purchasing an additional 8,841,374 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Cenovus Energy by 39.9% in the first quarter. International Assets Investment Management LLC now owns 35,767 shares of the oil and gas company’s stock worth $719,000 after purchasing an additional 10,200 shares in the last quarter. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Up 0.1 %

NYSE CVE traded up $0.01 during midday trading on Friday, hitting $19.77. 4,817,095 shares of the company traded hands, compared to its average volume of 9,308,943. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.70 and a quick ratio of 1.01. The company has a market cap of $36.70 billion, a PE ratio of 10.98 and a beta of 2.07. The company’s 50-day simple moving average is $19.66 and its 200-day simple moving average is $18.91. Cenovus Energy Inc. has a 52 week low of $14.69 and a 52 week high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.35 by $0.11. Cenovus Energy had a return on equity of 16.53% and a net margin of 8.73%. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.98 billion. As a group, equities research analysts forecast that Cenovus Energy Inc. will post 1.98 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were issued a dividend of $0.0981 per share. The ex-dividend date was Thursday, May 16th. This represents a $1.18 annualized dividend and a dividend yield of 5.95%. Cenovus Energy’s dividend payout ratio is presently 29.44%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. StockNews.com cut Cenovus Energy from a “strong-buy” rating to a “buy” rating in a research note on Friday. Raymond James raised Cenovus Energy to a “moderate buy” rating in a research note on Tuesday, May 28th. Scotiabank dropped their price objective on Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, Morgan Stanley increased their target price on Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $30.67.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.