O Shaughnessy Asset Management LLC Boosts Stake in Cenovus Energy Inc $CVE

O Shaughnessy Asset Management LLC lifted its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 18.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 916,749 shares of the oil and gas company’s stock after acquiring an additional 143,159 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Cenovus Energy were worth $15,509,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Capital Research Global Investors raised its position in shares of Cenovus Energy by 16.6% during the 4th quarter. Capital Research Global Investors now owns 124,313,513 shares of the oil and gas company’s stock worth $2,103,090,000 after purchasing an additional 17,730,542 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Cenovus Energy by 12.8% during the 4th quarter. Vanguard Group Inc. now owns 63,525,477 shares of the oil and gas company’s stock worth $1,074,660,000 after purchasing an additional 7,197,843 shares during the last quarter. Capital International Investors raised its position in shares of Cenovus Energy by 3.9% during the 4th quarter. Capital International Investors now owns 50,979,140 shares of the oil and gas company’s stock worth $862,505,000 after purchasing an additional 1,903,432 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Cenovus Energy by 46.7% during the 3rd quarter. Mackenzie Financial Corp now owns 30,643,806 shares of the oil and gas company’s stock worth $520,196,000 after purchasing an additional 9,753,134 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Cenovus Energy by 24.3% during the 4th 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 last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock opened at $27.63 on Wednesday. Cenovus Energy Inc has a one year low of $13.47 and a one year high of $32.07. The company has a market cap of $51.66 billion, a price-to-earnings ratio of 15.18 and a beta of 0.34. 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 business’s 50 day moving average price is $27.95 and its 200 day moving average price is $22.71.

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

Cenovus Energy Increases Dividend

The company also recently disclosed 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 an increase from Cenovus Energy’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, June 15th. Cenovus Energy’s payout ratio is currently 32.42%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Veritas upgraded shares of Cenovus Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. Wall Street Zen upgraded shares of Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Zacks Research upgraded shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 22nd. UBS Group restated a “buy” rating on shares of Cenovus Energy in a research report on Thursday, April 9th. Finally, TD Securities restated a “buy” rating on shares of Cenovus Energy in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Cenovus Energy presently has an average rating of “Buy” and a consensus target price of $35.25.

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.