Korea Investment CORP Has $23 Million Holdings in Cenovus Energy Inc. (NYSE:CVE)

Korea Investment CORP boosted its position in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 67.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,517,768 shares of the oil and gas company's stock after purchasing an additional 611,400 shares during the quarter. Korea Investment CORP owned 0.08% of Cenovus Energy worth $22,996,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CVE. Farther Finance Advisors LLC boosted its holdings in shares of Cenovus Energy by 104.9% in 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 bought a new stake in Cenovus Energy in the 4th quarter valued at $67,000. Blue Trust Inc. boosted 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 buying an additional 1,677 shares during the period. Empirical Asset Management LLC bought a new position in shares of Cenovus Energy during the 4th quarter worth approximately $174,000. Finally, SVB Wealth LLC acquired a new stake in shares of Cenovus Energy in the fourth quarter valued at approximately $182,000. Institutional investors own 51.19% of the company's stock.

Analyst Upgrades and Downgrades

CVE has been the subject of several recent research reports. Scotiabank upgraded shares of Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. StockNews.com downgraded shares of Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. 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 Wednesday. Morgan Stanley restated an "overweight" rating on shares of Cenovus Energy in a research note on Wednesday, March 26th. Finally, National Bank Financial cut Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. Three investment 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's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $29.00.

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Cenovus Energy Stock Performance

CVE traded down $0.84 during trading hours on Thursday, reaching $13.20. The company's stock had a trading volume of 4,624,216 shares, compared to its average volume of 8,518,058. The company's 50-day moving average is $14.20 and its 200-day moving average is $15.37. Cenovus Energy Inc. has a 52 week low of $12.08 and a 52 week high of $21.90. The firm has a market cap of $24.07 billion, a PE ratio of 10.91 and a beta of 1.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued 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). Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $11.08 billion. On average, equities analysts forecast 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. Stockholders of record on Friday, March 14th were given a $0.1269 dividend. This represents a $0.51 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend was Friday, March 14th. 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.