Geode Capital Management LLC Has $128.78 Million Holdings in Cenovus Energy Inc. (NYSE:CVE)

Geode Capital Management LLC lifted its stake in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 29.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,287,334 shares of the oil and gas company's stock after purchasing an additional 1,873,415 shares during the quarter. Geode Capital Management LLC owned about 0.45% of Cenovus Energy worth $128,783,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Amundi boosted its position in shares of 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 buying an additional 77,548 shares in the last quarter. Alberta Investment Management Corp boosted its holdings in Cenovus Energy by 10.1% in the fourth 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 acquiring an additional 411,000 shares during the last quarter. Franklin Resources Inc. grew its position in Cenovus Energy by 105.0% during the fourth quarter. Franklin Resources Inc. now owns 4,337,551 shares of the oil and gas company's stock valued at $65,667,000 after acquiring an additional 2,221,549 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Cenovus Energy by 8.4% during 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 acquiring an additional 305,674 shares during the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. raised its holdings in shares of Cenovus Energy by 19.7% in the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,786,011 shares of the oil and gas company's stock worth $57,317,000 after purchasing an additional 622,977 shares during the period. Institutional investors and hedge funds own 51.19% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on CVE shares. National Bank Financial lowered shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a report on Friday, February 21st. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $25.00 target price on shares of Cenovus Energy in a research report on Friday. Morgan Stanley reaffirmed an "overweight" rating on shares of Cenovus Energy in a report on Wednesday, March 26th. Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, StockNews.com lowered shares of Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. Three 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. According to MarketBeat, Cenovus Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.00.

Cenovus Energy Price Performance

Shares of Cenovus Energy stock traded up $0.11 on Monday, hitting $11.51. The company had a trading volume of 1,029,727 shares, compared to its average volume of 8,629,394. The company has a market cap of $20.98 billion, a PE ratio of 9.51 and a beta of 1.46. 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 Inc. has a 52 week low of $10.23 and a 52 week high of $21.58. The business has a 50-day simple moving average of $13.61 and a 200-day simple moving average of $15.03.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings data 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%. Research analysts expect that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.1269 per share. This represents a $0.51 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend was Friday, March 14th. Cenovus Energy's dividend payout ratio is presently 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.