Intech Investment Management LLC Grows Holdings in Cenovus Energy Inc. (NYSE:CVE)

Intech Investment Management LLC raised its position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 266.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,041,876 shares of the oil and gas company's stock after buying an additional 757,534 shares during the period. Intech Investment Management LLC owned 0.06% of Cenovus Energy worth $17,445,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Cenovus Energy by 2.1% during the first quarter. Vanguard Group Inc. now owns 48,563,284 shares of the oil and gas company's stock valued at $970,780,000 after acquiring an additional 1,008,341 shares during the last quarter. Boston Partners raised its stake in shares of Cenovus Energy by 29.0% during the 1st quarter. Boston Partners now owns 37,540,511 shares of the oil and gas company's stock worth $750,435,000 after purchasing an additional 8,438,979 shares during the period. Capital International Investors boosted its holdings in shares of Cenovus Energy by 216.3% in the 1st quarter. Capital International Investors now owns 33,927,436 shares of the oil and gas company's stock worth $678,250,000 after buying an additional 23,202,018 shares during the last quarter. Smead Capital Management Inc. grew its position in Cenovus Energy by 39.3% during the third quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company's stock valued at $257,831,000 after buying an additional 4,351,960 shares during the period. Finally, 1832 Asset Management L.P. increased its holdings in Cenovus Energy by 81.1% during the second quarter. 1832 Asset Management L.P. now owns 12,538,499 shares of the oil and gas company's stock worth $246,507,000 after buying an additional 5,613,320 shares during the last quarter. Institutional investors own 51.19% of the company's stock.

Wall Street Analysts Forecast Growth

CVE has been the subject of several research analyst reports. TD Securities lowered shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 1st. BMO Capital Markets dropped their price target on Cenovus Energy from $31.00 to $28.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Finally, StockNews.com upgraded Cenovus Energy from a "hold" rating to a "buy" rating in a research note on Monday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $30.00.

Cenovus Energy Trading Up 0.7 %

Shares of CVE opened at $16.17 on Thursday. Cenovus Energy Inc. has a twelve month low of $14.69 and a twelve month high of $21.90. The stock has a market cap of $29.53 billion, a PE ratio of 11.15 and a beta of 2.05. 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's 50-day moving average price is $16.73 and its 200-day moving average price is $18.42.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its earnings results on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.08. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $10.25 billion. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. Cenovus Energy's revenue was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 EPS. On average, equities analysts forecast that Cenovus Energy Inc. will post 1.5 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.133 per share. This represents a $0.53 annualized dividend and a yield of 3.29%. This is a boost from Cenovus Energy's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, December 13th. Cenovus Energy's payout ratio is presently 36.55%.

Cenovus Energy Company Profile

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.

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