Franklin Resources Inc. Grows Stake in Cenovus Energy Inc. (NYSE:CVE)

Franklin Resources Inc. lifted its position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 105.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,337,551 shares of the oil and gas company's stock after acquiring an additional 2,221,549 shares during the quarter. Franklin Resources Inc. owned 0.24% of Cenovus Energy worth $65,667,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its position 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 valued at $25,000 after buying an additional 851 shares during the period. Sierra Ocean LLC purchased a new position in Cenovus Energy during the 4th quarter valued at $67,000. Blue Trust Inc. grew its position in Cenovus Energy by 54.7% in the 4th quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company's stock valued at $72,000 after acquiring an additional 1,677 shares during the last quarter. Empirical Asset Management LLC purchased a new stake in Cenovus Energy in the fourth quarter worth $174,000. Finally, CIBC Private Wealth Group LLC lifted its position in shares of Cenovus Energy by 177.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 11,991 shares of the oil and gas company's stock worth $184,000 after purchasing an additional 7,669 shares during the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.

Cenovus Energy Stock Down 1.2 %

CVE stock traded down $0.13 during trading on Tuesday, hitting $11.06. 4,743,119 shares of the company's stock traded hands, compared to its average volume of 11,083,145. The firm has a market capitalization of $20.16 billion, a P/E ratio of 9.15 and a beta of 1.46. Cenovus Energy Inc. has a 1 year low of $10.51 and a 1 year 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 business has a fifty day simple moving average of $14.02 and a two-hundred day simple moving average of $15.26.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.27). The company had revenue of $8.40 billion during the quarter, compared to analysts' expectations of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. 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. Shareholders of record on Friday, March 14th were issued a $0.1269 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a yield of 4.59%. Cenovus Energy's dividend payout ratio is presently 40.50%.

Wall Street Analysts Forecast Growth

CVE has been the topic of a number of research analyst reports. Scotiabank upgraded shares of Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. Morgan Stanley reaffirmed an "overweight" rating on shares of Cenovus Energy in a research report on Wednesday, March 26th. National Bank Financial lowered Cenovus Energy from an "outperform" rating to a "sector perform" rating in a report on Friday, February 21st. StockNews.com downgraded Cenovus Energy from a "buy" rating to a "hold" rating in a report on Saturday, December 28th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $25.00 target price on shares of Cenovus Energy in a research report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.