Bank of New York Mellon Corp Boosts Holdings in Cenovus Energy Inc. (NYSE:CVE)

Bank of New York Mellon Corp raised its holdings in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 6.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,162,999 shares of the oil and gas company's stock after acquiring an additional 72,450 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.06% of Cenovus Energy worth $17,619,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Wahed Invest LLC boosted its stake in shares of Cenovus Energy by 5.6% during the 3rd quarter. Wahed Invest LLC now owns 16,489 shares of the oil and gas company's stock worth $276,000 after purchasing an additional 875 shares during the last quarter. Montgomery Investment Management Inc. boosted its stake in shares of Cenovus Energy by 1.6% during the 4th quarter. Montgomery Investment Management Inc. now owns 56,535 shares of the oil and gas company's stock worth $857,000 after purchasing an additional 894 shares during the last quarter. Harmony Asset Management LLC boosted its stake in shares of Cenovus Energy by 8.1% during the 3rd quarter. Harmony Asset Management LLC now owns 13,400 shares of the oil and gas company's stock worth $224,000 after purchasing an additional 1,000 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Cenovus Energy by 1.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 76,940 shares of the oil and gas company's stock worth $1,287,000 after purchasing an additional 1,209 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in shares of Cenovus Energy by 3.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 40,194 shares of the oil and gas company's stock worth $672,000 after purchasing an additional 1,236 shares during the last quarter. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVE has been the topic of several analyst reports. StockNews.com cut shares of Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. Royal Bank of Canada decreased their target price on shares of Cenovus Energy from $26.00 to $25.00 and set an "outperform" rating on the stock in a research report on Friday, February 21st. Finally, National Bank Financial cut shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Cenovus Energy has a consensus rating of "Moderate Buy" and a consensus price target of $29.25.

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Cenovus Energy Trading Up 4.0 %

Shares of CVE stock opened at $12.99 on Wednesday. The stock has a market cap of $23.68 billion, a price-to-earnings ratio of 10.73 and a beta of 1.99. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. Cenovus Energy Inc. has a fifty-two week low of $12.07 and a fifty-two week high of $21.90. The firm's 50 day moving average price is $14.63 and its two-hundred day moving average price is $15.78.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.27). The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. On average, analysts anticipate that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.1269 per share. The ex-dividend date is Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a yield of 3.91%. Cenovus Energy's dividend payout ratio (DPR) is 40.50%.

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.

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