Franklin Resources Inc. Acquires 2,221,549 Shares of Cenovus Energy Inc. (NYSE:CVE)

Franklin Resources Inc. boosted its holdings in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 105.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,337,551 shares of the oil and gas company's stock after buying an additional 2,221,549 shares during the period. Franklin Resources Inc. owned 0.24% of Cenovus Energy worth $65,667,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CVE. Geode Capital Management LLC grew its position in shares of Cenovus Energy by 9.7% during the third quarter. Geode Capital Management LLC now owns 6,413,919 shares of the oil and gas company's stock worth $109,232,000 after purchasing an additional 568,732 shares in the last quarter. Amundi boosted its stake in Cenovus Energy by 1.7% in the 4th quarter. Amundi now owns 4,678,976 shares of the oil and gas company's stock worth $71,775,000 after purchasing an additional 77,548 shares during the period. Alberta Investment Management Corp grew its holdings in Cenovus Energy by 10.1% during the 4th quarter. Alberta Investment Management Corp now owns 4,494,400 shares of the oil and gas company's stock valued at $68,094,000 after buying an additional 411,000 shares in the last quarter. Recurrent Investment Advisors LLC raised its position in shares of Cenovus Energy by 11.6% during the third quarter. Recurrent Investment Advisors LLC now owns 4,100,212 shares of the oil and gas company's stock valued at $69,764,000 after buying an additional 426,002 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Cenovus Energy by 8.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,958,866 shares of the oil and gas company's stock worth $59,983,000 after buying an additional 305,674 shares in the last quarter. 51.19% of the stock is owned by institutional investors.

Remove Ads

Cenovus Energy Trading Up 0.0 %

NYSE CVE traded up $0.00 during trading hours on Monday, hitting $11.25. 10,450,527 shares of the company were exchanged, compared to its average volume of 8,604,605. Cenovus Energy Inc. has a 52 week low of $10.58 and a 52 week high of $21.90. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average price of $14.09 and a 200 day moving average price of $15.30. The stock has a market cap of $20.52 billion, a PE ratio of 9.32 and a beta of 1.46.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released 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 company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. Analysts forecast that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.1269 dividend. This represents a $0.51 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend was Friday, March 14th. Cenovus Energy's dividend payout ratio is currently 40.50%.

Analysts Set New Price Targets

Several research firms recently weighed in on CVE. 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 reaffirmed an "outperform" rating and issued a $25.00 target price on shares of Cenovus Energy in a report on Wednesday, April 2nd. Scotiabank raised Cenovus Energy to a "strong-buy" rating in a research note on Wednesday, March 19th. National Bank Financial downgraded Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a research report on Wednesday, March 26th. Three equities research 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $29.00.

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.