Cenovus Energy Inc. (NYSE:CVE) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 8.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,958,866 shares of the oil and gas company's stock after buying an additional 305,674 shares during the period. Charles Schwab Investment Management Inc. owned 0.22% of Cenovus Energy worth $59,983,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Wahed Invest LLC grew its stake in shares of Cenovus Energy by 5.6% in the 3rd quarter. Wahed Invest LLC now owns 16,489 shares of the oil and gas company's stock valued at $276,000 after buying an additional 875 shares during the period. Montgomery Investment Management Inc. boosted its position 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 period. Harmony Asset Management LLC boosted its position 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 period. PNC Financial Services Group Inc. boosted its position 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 period. Finally, TD Private Client Wealth LLC boosted its position 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 period. Hedge funds and other institutional investors own 51.19% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. StockNews.com cut shares of Cenovus Energy from a "buy" rating to a "hold" rating in a research report on Saturday, December 28th. 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. Finally, Royal Bank of Canada lowered their price objective on shares of Cenovus Energy from $26.00 to $25.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $29.25.

Cenovus Energy Stock Up 3.2 %

CVE stock traded up $0.42 during midday trading on Friday, hitting $13.49. The company's stock had a trading volume of 9,139,073 shares, compared to its average volume of 8,469,325. 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 52-week low of $12.08 and a 52-week high of $21.90. The firm has a market capitalization of $24.58 billion, a P/E ratio of 11.14 and a beta of 1.99. The firm has a 50-day simple moving average of $14.51 and a 200-day simple moving average of $15.68.

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

Cenovus Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.1269 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 3.76%. Cenovus Energy's payout ratio is 40.50%.

About Cenovus Energy

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.