Cenovus Energy Inc. (NYSE:CVE) Shares Bought by Capital World Investors

Capital World Investors raised its position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 15.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 191,412,590 shares of the oil and gas company's stock after purchasing an additional 26,127,617 shares during the quarter. Capital World Investors owned 10.49% of Cenovus Energy worth $2,901,131,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. MML Investors Services LLC lifted its stake in shares of Cenovus Energy by 17.7% during the 3rd quarter. MML Investors Services LLC now owns 38,768 shares of the oil and gas company's stock worth $649,000 after acquiring an additional 5,828 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Cenovus Energy during the third quarter valued at $408,000. SkyView Investment Advisors LLC grew its holdings in shares of Cenovus Energy by 5.1% in the third quarter. SkyView Investment Advisors LLC now owns 43,632 shares of the oil and gas company's stock worth $730,000 after purchasing an additional 2,122 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Cenovus Energy by 1,289.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 430,781 shares of the oil and gas company's stock worth $6,526,000 after buying an additional 399,787 shares during the period. Finally, Foundation Resource Management Inc. lifted its holdings in Cenovus Energy by 1.5% during the 4th quarter. Foundation Resource Management Inc. now owns 435,264 shares of the oil and gas company's stock valued at $6,594,000 after buying an additional 6,509 shares in the last quarter. Hedge funds and other institutional investors own 51.19% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CVE shares. National Bank Financial lowered shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research report on Friday, February 21st. Morgan Stanley reaffirmed an "overweight" rating on shares of Cenovus Energy in a research report on Tuesday, April 15th. Royal Bank of Canada reissued an "outperform" rating and set a $25.00 price target on shares of Cenovus Energy in a research report on Friday, April 11th. Scotiabank upgraded Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, StockNews.com downgraded shares of Cenovus Energy from a "buy" rating to a "hold" rating in a research report on Saturday, December 28th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cenovus Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.00.

Cenovus Energy Stock Down 1.5 %

Cenovus Energy stock traded down $0.19 during trading hours on Wednesday, reaching $11.98. The stock had a trading volume of 9,894,393 shares, compared to its average volume of 8,620,120. The company has a market cap of $21.83 billion, a price-to-earnings ratio of 9.90 and a beta of 1.46. The business's 50 day moving average price is $13.15 and its 200-day moving average price is $14.78. Cenovus Energy Inc. has a 52 week low of $10.23 and a 52 week high of $21.58. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. Sell-side analysts anticipate that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.1269 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Friday, March 14th. 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.