Mackenzie Financial Corp Has $520.20 Million Holdings in Cenovus Energy Inc $CVE

Mackenzie Financial Corp boosted its holdings in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 46.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,643,806 shares of the oil and gas company’s stock after purchasing an additional 9,753,134 shares during the quarter. Mackenzie Financial Corp owned 1.73% of Cenovus Energy worth $520,196,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Capital Research Global Investors raised its position in shares of Cenovus Energy by 291.3% in the third quarter. Capital Research Global Investors now owns 106,582,971 shares of the oil and gas company’s stock valued at $1,809,758,000 after buying an additional 79,345,506 shares in the last quarter. Vanguard Group Inc. increased its stake in Cenovus Energy by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 56,327,634 shares of the oil and gas company’s stock worth $956,387,000 after acquiring an additional 354,241 shares during the period. Boston Partners raised its holdings in Cenovus Energy by 2.3% in the 2nd quarter. Boston Partners now owns 26,845,367 shares of the oil and gas company’s stock valued at $365,097,000 after acquiring an additional 606,042 shares in the last quarter. Smead Capital Management Inc. lifted its position in shares of Cenovus Energy by 13.3% during the 2nd quarter. Smead Capital Management Inc. now owns 17,552,075 shares of the oil and gas company’s stock valued at $238,999,000 after acquiring an additional 2,056,163 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Cenovus Energy by 322.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 15,521,050 shares of the oil and gas company’s stock worth $211,338,000 after purchasing an additional 11,849,355 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CVE shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cenovus Energy in a research note on Tuesday, January 27th. Royal Bank Of Canada boosted their target price on shares of Cenovus Energy from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. The Goldman Sachs Group reissued a “buy” rating and issued a $22.00 price objective on shares of Cenovus Energy in a research note on Monday, February 2nd. TD Securities restated a “buy” rating on shares of Cenovus Energy in a research report on Friday, February 20th. Finally, Morgan Stanley restated an “overweight” rating on shares of Cenovus Energy in a research note on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.33.

Cenovus Energy Price Performance

Cenovus Energy stock opened at $22.63 on Wednesday. The stock has a 50-day moving average price of $20.02 and a two-hundred day moving average price of $18.23. Cenovus Energy Inc has a 12 month low of $10.23 and a 12 month high of $23.89. The company has a market capitalization of $42.55 billion, a PE ratio of 14.79 and a beta of 0.43. The company has a current ratio of 1.57, a quick ratio of 1.04 and a debt-to-equity ratio of 0.35.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.08. Cenovus Energy had a return on equity of 13.25% and a net margin of 7.92%.The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $10.89 billion. During the same period in the previous year, the business posted $0.07 earnings per share. Analysts expect that Cenovus Energy Inc will post 1.49 EPS for the current year.

Cenovus Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Friday, March 13th. Cenovus Energy’s payout ratio is presently 37.25%.

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.