Cenovus Energy Inc. (NYSE:CVE) Shares Purchased by Amundi

Amundi lifted its stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,678,976 shares of the oil and gas company’s stock after purchasing an additional 77,548 shares during the quarter. Amundi owned about 0.26% of Cenovus Energy worth $71,775,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wahed Invest LLC increased its holdings in shares of Cenovus Energy by 5.6% in the third quarter. Wahed Invest LLC now owns 16,489 shares of the oil and gas company’s stock valued at $276,000 after purchasing an additional 875 shares during the last quarter. Montgomery Investment Management Inc. increased its holdings in shares of Cenovus Energy by 1.6% in the fourth quarter. Montgomery Investment Management Inc. now owns 56,535 shares of the oil and gas company’s stock valued at $857,000 after purchasing an additional 894 shares during the last quarter. Harmony Asset Management LLC increased its holdings in shares of Cenovus Energy by 8.1% in the third quarter. Harmony Asset Management LLC now owns 13,400 shares of the oil and gas company’s stock valued at $224,000 after purchasing an additional 1,000 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Cenovus Energy by 1.6% in the third quarter. PNC Financial Services Group Inc. now owns 76,940 shares of the oil and gas company’s stock valued at $1,287,000 after purchasing an additional 1,209 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in shares of Cenovus Energy by 3.2% in the third quarter. TD Private Client Wealth LLC now owns 40,194 shares of the oil and gas company’s stock valued at $672,000 after purchasing an additional 1,236 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank of Canada cut their price target on Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, February 21st. National Bank Financial cut Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 21st. Finally, StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.25.

Cenovus Energy Price Performance

CVE stock opened at $12.99 on Wednesday. The business has a fifty day moving average of $14.63 and a two-hundred day moving average of $15.78. 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 stock has a market cap of $23.68 billion, a price-to-earnings ratio of 10.73 and a beta of 1.99. Cenovus Energy Inc. has a 52-week low of $12.07 and a 52-week high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released 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 firm had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $11.08 billion. As a group, research analysts anticipate 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 will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.1269 per share. The ex-dividend date is Friday, March 14th. This represents a $0.51 annualized dividend and a dividend yield of 3.91%. Cenovus Energy’s dividend payout ratio is currently 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.