Cenovus Energy Inc $CVE Shares Acquired by Capital International Inc. CA

Capital International Inc. CA lifted its stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 115.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,581,833 shares of the oil and gas company’s stock after purchasing an additional 1,919,041 shares during the quarter. Capital International Inc. CA’s holdings in Cenovus Energy were worth $60,823,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its holdings in Cenovus Energy by 16.8% in the third quarter. Jones Financial Companies Lllp now owns 6,369 shares of the oil and gas company’s stock valued at $113,000 after acquiring an additional 917 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Cenovus Energy by 20.8% during the third quarter. EverSource Wealth Advisors LLC now owns 5,933 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 1,021 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its stake in shares of Cenovus Energy by 1.1% in the second quarter. OMERS ADMINISTRATION Corp now owns 101,257 shares of the oil and gas company’s stock valued at $1,375,000 after purchasing an additional 1,076 shares during the period. Penbrook Management LLC increased its stake in Cenovus Energy by 3.8% during the 3rd quarter. Penbrook Management LLC now owns 29,880 shares of the oil and gas company’s stock worth $508,000 after buying an additional 1,080 shares during the period. Finally, Allworth Financial LP lifted its holdings in Cenovus Energy by 104.3% during the 2nd quarter. Allworth Financial LP now owns 2,288 shares of the oil and gas company’s stock worth $31,000 after buying an additional 1,168 shares in the last quarter. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Trading Up 0.2%

NYSE:CVE opened at $22.78 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. Cenovus Energy Inc has a 52-week low of $10.23 and a 52-week high of $23.89. The stock’s 50 day moving average price is $19.91 and its 200 day moving average price is $18.18. The company has a market capitalization of $42.83 billion, a PE ratio of 14.89 and a beta of 0.43.

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

Cenovus Energy Dividend Announcement

The business 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 $0.20 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.5%. Cenovus Energy’s dividend payout ratio (DPR) is 37.25%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CVE. Veritas lowered Cenovus Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, February 23rd. Zacks Research downgraded Cenovus Energy from a “hold” rating to a “strong sell” rating in a report on Friday, February 20th. Royal Bank Of Canada lifted their price objective on Cenovus Energy from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Scotiabank raised Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Cenovus Energy in a report on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Cenovus Energy currently has a consensus rating of “Moderate Buy” and an average price target of $27.33.

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.