Cenovus Energy Inc. (NYSE:CVE) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,226,155 shares of the oil and gas company's stock after acquiring an additional 245,302 shares during the period. Massachusetts Financial Services Co. MA owned about 0.29% of Cenovus Energy worth $79,176,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in Cenovus Energy during the fourth quarter worth approximately $209,000. Geode Capital Management LLC lifted its position in shares of Cenovus Energy by 29.2% during the 4th 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. Franklin Resources Inc. grew 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 valued at $65,667,000 after acquiring an additional 2,221,549 shares during the period. Summit Financial LLC purchased a new stake in Cenovus Energy in the 4th quarter worth $1,401,000. Finally, Alliancebernstein L.P. raised its position in Cenovus Energy by 0.7% during the fourth quarter. Alliancebernstein L.P. now owns 106,532 shares of the oil and gas company's stock worth $1,614,000 after acquiring an additional 779 shares during the period. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on CVE shares. StockNews.com cut shares of Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. Scotiabank upgraded Cenovus Energy to a "strong-buy" rating in a research note on Wednesday, March 19th. Morgan Stanley restated an "overweight" rating on shares of Cenovus Energy in a research report on Wednesday, March 26th. National Bank Financial cut Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research report on Friday, February 21st. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $25.00 price objective on shares of Cenovus Energy in a report on Wednesday, April 2nd. Three 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $29.00.

Cenovus Energy Price Performance

Shares of NYSE:CVE traded down $1.08 during midday trading on Thursday, hitting $10.94. The company had a trading volume of 4,759,580 shares, compared to its average volume of 8,699,304. Cenovus Energy Inc. has a twelve month low of $10.23 and a twelve month high of $21.90. The stock has a market cap of $19.94 billion, a price-to-earnings ratio of 9.01 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. The business's 50-day simple moving average is $13.75 and its 200-day simple moving average is $15.12.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its quarterly 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 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. On average, research analysts predict that Cenovus Energy Inc. will post 1.49 earnings per share for the current 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 $0.1269 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.51 annualized dividend and a dividend yield of 4.64%. Cenovus Energy's dividend payout ratio (DPR) is 40.50%.

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.