Cenovus Energy Inc. (NYSE:CVE) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its holdings in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 48.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,001,002 shares of the oil and gas company's stock after purchasing an additional 4,220,663 shares during the quarter. Dimensional Fund Advisors LP owned about 0.71% of Cenovus Energy worth $196,935,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CVE. Alliancebernstein L.P. raised its stake in Cenovus Energy by 0.7% during the 4th quarter. Alliancebernstein L.P. now owns 106,532 shares of the oil and gas company's stock valued at $1,614,000 after acquiring an additional 779 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Cenovus Energy by 104.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 851 shares during the last quarter. Montgomery Investment Management Inc. lifted its holdings in shares of Cenovus Energy by 1.6% during the fourth 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 period. Guggenheim Capital LLC grew its position in Cenovus Energy by 4.5% in the 4th quarter. Guggenheim Capital LLC now owns 20,974 shares of the oil and gas company's stock valued at $318,000 after buying an additional 908 shares during the last quarter. Finally, Banco Santander S.A. increased its stake in Cenovus Energy by 5.6% in the 4th quarter. Banco Santander S.A. now owns 30,967 shares of the oil and gas company's stock valued at $469,000 after buying an additional 1,641 shares during the period. 51.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Cenovus Energy Price Performance

Shares of NYSE:CVE opened at $12.12 on Wednesday. Cenovus Energy Inc. has a 12 month low of $10.23 and a 12 month high of $21.58. The firm has a market capitalization of $22.09 billion, a price-to-earnings ratio of 10.02 and a beta of 1.46. The business's 50 day simple moving average is $13.15 and its 200-day simple moving average is $14.78. 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 earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.27). The firm had revenue of $8.40 billion during 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%. As a group, equities analysts forecast that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.1269 per share. This represents a $0.51 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Friday, March 14th. Cenovus Energy's payout ratio is currently 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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