Invesco Ltd. Has $121.87 Million Stake in Cenovus Energy Inc. (NYSE:CVE)

Invesco Ltd. raised its position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,043,884 shares of the oil and gas company's stock after buying an additional 276,023 shares during the quarter. Invesco Ltd. owned 0.44% of Cenovus Energy worth $121,865,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Franklin Resources Inc. raised its stake in Cenovus Energy by 105.0% in the 4th quarter. Franklin Resources Inc. now owns 4,337,551 shares of the oil and gas company's stock worth $65,667,000 after purchasing an additional 2,221,549 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Cenovus Energy by 29.2% in the fourth quarter. Geode Capital Management LLC now owns 8,287,334 shares of the oil and gas company's stock valued at $128,783,000 after buying an additional 1,873,415 shares in the last quarter. Panview Capital Ltd bought a new stake in shares of Cenovus Energy in the fourth quarter valued at approximately $16,741,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Cenovus Energy by 273.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,440,237 shares of the oil and gas company's stock worth $21,821,000 after acquiring an additional 1,054,483 shares during the period. Finally, Mufg Securities Canada LTD. increased its stake in Cenovus Energy by 69.3% during the 4th quarter. Mufg Securities Canada LTD. now owns 1,952,419 shares of the oil and gas company's stock worth $29,577,000 after acquiring an additional 799,001 shares during the period. Institutional investors own 51.19% of the company's stock.

Analyst Ratings Changes

CVE has been the subject of a number of analyst reports. StockNews.com downgraded Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a report on Tuesday. Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. National Bank Financial downgraded shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $25.00 price objective on shares of Cenovus Energy in a research note on Friday, April 11th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $29.00.

Cenovus Energy Trading Up 3.9 %

CVE stock traded up $0.46 during midday trading on Friday, hitting $12.12. The stock had a trading volume of 9,641,337 shares, compared to its average volume of 8,612,916. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The firm has a market cap of $22.09 billion, a P/E ratio of 10.01 and a beta of 1.46. The business has a fifty day moving average price of $13.35 and a two-hundred day moving average price of $14.92. Cenovus Energy Inc. has a 1-year low of $10.23 and a 1-year high of $21.58.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.27). Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $11.08 billion. On average, sell-side analysts predict that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The business 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 4.19%. The ex-dividend date was Friday, March 14th. Cenovus Energy's dividend payout ratio is presently 40.50%.

Cenovus Energy 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.