Capital International Investors Acquires 23,202,018 Shares of Cenovus Energy Inc. (NYSE:CVE)

Capital International Investors grew its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 216.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,927,436 shares of the oil and gas company’s stock after purchasing an additional 23,202,018 shares during the quarter. Capital International Investors owned about 1.83% of Cenovus Energy worth $678,250,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CVE. Financial Perspectives Inc bought a new position in Cenovus Energy during the 4th quarter worth approximately $28,000. Fifth Third Bancorp raised its holdings in Cenovus Energy by 80.3% during the 1st quarter. Fifth Third Bancorp now owns 1,453 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 647 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in Cenovus Energy during the 1st quarter worth approximately $30,000. Headlands Technologies LLC bought a new position in Cenovus Energy during the 4th quarter worth approximately $33,000. Finally, Spire Wealth Management raised its holdings in Cenovus Energy by 41.9% during the 4th quarter. Spire Wealth Management now owns 2,305 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 681 shares during the last quarter. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Up 0.1 %

NYSE CVE traded up $0.01 during mid-day trading on Friday, hitting $19.77. The company’s stock had a trading volume of 4,817,095 shares, compared to its average volume of 9,308,943. The company’s 50 day simple moving average is $19.66 and its 200 day simple moving average is $18.91. Cenovus Energy Inc. has a twelve month low of $14.69 and a twelve month high of $21.90. The company has a current ratio of 1.70, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $36.70 billion, a price-to-earnings ratio of 10.98 and a beta of 2.07.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.11. Cenovus Energy had a net margin of 8.73% and a return on equity of 16.53%. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.98 billion. Analysts anticipate that Cenovus Energy Inc. will post 1.98 earnings per share for the current year.

Cenovus Energy Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were given a $0.0981 dividend. This represents a $1.18 annualized dividend and a yield of 5.95%. The ex-dividend date of this dividend was Thursday, May 16th. Cenovus Energy’s payout ratio is currently 29.44%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Scotiabank lowered their price target on shares of Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Raymond James raised shares of Cenovus Energy to a “moderate buy” rating in a research report on Tuesday, May 28th. Morgan Stanley raised their price objective on shares of Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, StockNews.com downgraded shares of Cenovus Energy from a “strong-buy” rating to a “buy” rating in a research report on Friday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $30.67.

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.