Mawer Investment Management Ltd. boosted its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 44.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,149,361 shares of the oil and gas company’s stock after buying an additional 3,143,931 shares during the period. Cenovus Energy accounts for 1.5% of Mawer Investment Management Ltd.’s portfolio, making the stock its 22nd largest position. Mawer Investment Management Ltd. owned approximately 1.22% of Cenovus Energy worth $200,353,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. TD Asset Management Inc. raised its position in Cenovus Energy by 46.9% in the first quarter. TD Asset Management Inc. now owns 40,979,115 shares of the oil and gas company’s stock worth $462,442,000 after buying an additional 13,092,198 shares during the period. Norges Bank purchased a new position in Cenovus Energy during the fourth quarter worth $120,443,000. First Eagle Investment Management LLC raised its position in Cenovus Energy by 25.6% in the first quarter. First Eagle Investment Management LLC now owns 31,675,743 shares of the oil and gas company’s stock worth $357,936,000 after buying an additional 6,448,369 shares during the period. The Manufacturers Life Insurance Company purchased a new position in Cenovus Energy during the third quarter worth $79,040,000. Finally, Pzena Investment Management LLC raised its position in Cenovus Energy by 40.6% in the first quarter. Pzena Investment Management LLC now owns 19,032,719 shares of the oil and gas company’s stock worth $215,070,000 after buying an additional 5,494,952 shares during the period. Hedge funds and other institutional investors own 68.12% of the company’s stock.
Cenovus Energy Inc (NYSE:CVE) traded up 4.31% on Friday, hitting $9.68. The stock had a trading volume of 3,052,517 shares. Cenovus Energy Inc has a one year low of $9.11 and a one year high of $16.82. The company’s market cap is $8.07 billion. The stock has a 50-day moving average of $10.25 and a 200-day moving average of $13.11.
Cenovus Energy (NYSE:CVE) last announced its earnings results on Wednesday, April 26th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.06. Cenovus Energy had a negative net margin of 11.17% and a negative return on equity of 9.35%. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $3.21 billion. During the same period in the prior year, the business earned ($0.51) EPS. Equities analysts expect that Cenovus Energy Inc will post $0.24 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be issued a dividend of $0.0371 per share. This represents a $0.15 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Tuesday, June 13th. Cenovus Energy’s dividend payout ratio is -12.93%.
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A number of equities research analysts have commented on the company. Zacks Investment Research downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a report on Monday, May 1st. Canaccord Genuity reissued a “hold” rating and issued a $16.50 target price on shares of Cenovus Energy in a report on Wednesday, April 26th. Macquarie raised Cenovus Energy from an “underperform” rating to a “neutral” rating in a report on Thursday, March 30th. TD Securities raised Cenovus Energy from a “hold” rating to a “buy” rating in a report on Friday, March 24th. Finally, Goldman Sachs Group Inc reduced their target price on Cenovus Energy from $13.00 to $12.00 and set a “sell” rating for the company in a report on Wednesday, March 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $19.35.
Cenovus Energy Company Profile
Cenovus Energy Inc is a Canada-based integrated oil company. The Company is engaged in the business of developing, producing and marketing crude oil, natural gas liquids (NGL) and natural gas. Its segments include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations. Its Oil Sands segment includes the development and production of bitumen and natural gas in northeast Alberta.
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