227,181 Shares in Cenovus Energy Inc. (NYSE:CVE) Acquired by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC purchased a new position in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 227,181 shares of the oil and gas company's stock, valued at approximately $3,442,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in shares of Cenovus Energy by 104.9% in the 4th 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 in the last quarter. Sierra Ocean LLC acquired a new position in shares of Cenovus Energy during the fourth quarter valued at about $67,000. Blue Trust Inc. increased its position in shares of Cenovus Energy by 54.7% during the fourth quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company's stock worth $72,000 after acquiring an additional 1,677 shares in the last quarter. Empirical Asset Management LLC acquired a new stake in shares of Cenovus Energy in the 4th quarter worth about $174,000. Finally, SVB Wealth LLC acquired a new position in Cenovus Energy during the 4th quarter valued at about $182,000. Institutional investors own 51.19% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Scotiabank upgraded Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. StockNews.com cut Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. National Bank Financial lowered shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a research report on Wednesday, March 26th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $25.00 price objective on shares of Cenovus Energy in a research report on Friday. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Cenovus Energy currently has a consensus rating of "Moderate Buy" and an average target price of $29.00.

Cenovus Energy Stock Performance

CVE traded up $0.29 during trading on Friday, hitting $11.39. 7,934,165 shares of the company traded hands, compared to its average volume of 8,657,890. The firm has a market cap of $20.76 billion, a P/E ratio of 9.41 and a beta of 1.46. 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 one year low of $10.23 and a one year high of $21.58. The stock's fifty day moving average is $13.61 and its 200 day moving average is $15.03.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.27). Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. The company had revenue of $8.40 billion for the quarter, compared to analysts' expectations of $11.08 billion. As a group, equities analysts predict that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.1269 per share. The ex-dividend date was Friday, March 14th. This represents a $0.51 annualized dividend and a dividend yield of 4.46%. 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.