Zurcher Kantonalbank Zurich Cantonalbank Purchases 371,085 Shares of Cenovus Energy Inc. (NYSE:CVE)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 121.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 675,388 shares of the oil and gas company’s stock after acquiring an additional 371,085 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cenovus Energy were worth $11,309,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Cenovus Energy by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 49,480,149 shares of the oil and gas company’s stock valued at $1,030,177,000 after acquiring an additional 690,057 shares during the last quarter. Wellington Management Group LLP increased its holdings in Cenovus Energy by 0.8% in the third quarter. Wellington Management Group LLP now owns 47,327,214 shares of the oil and gas company’s stock valued at $986,334,000 after purchasing an additional 388,652 shares during the period. Boston Partners increased its holdings in Cenovus Energy by 8.6% in the third quarter. Boston Partners now owns 29,412,644 shares of the oil and gas company’s stock valued at $676,838,000 after purchasing an additional 2,325,082 shares during the period. Capital World Investors increased its holdings in Cenovus Energy by 30.0% in the first quarter. Capital World Investors now owns 28,481,746 shares of the oil and gas company’s stock valued at $474,791,000 after purchasing an additional 6,570,038 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in Cenovus Energy by 4.4% in the fourth quarter. Mackenzie Financial Corp now owns 11,053,328 shares of the oil and gas company’s stock valued at $184,278,000 after purchasing an additional 462,273 shares during the period. 51.19% of the stock is currently owned by institutional investors.

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock opened at $20.86 on Friday. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $18.97 and a two-hundred day moving average price of $18.01. Cenovus Energy Inc. has a 1-year low of $14.69 and a 1-year high of $21.90. The company has a market cap of $38.91 billion, a P/E ratio of 13.20 and a beta of 2.15.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $9.73 billion. Cenovus Energy had a return on equity of 14.85% and a net margin of 7.88%. During the same period last year, the business posted $0.29 EPS. As a group, analysts anticipate that Cenovus Energy Inc. will post 1.81 EPS for the current year.

Cenovus Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.1033 dividend. The ex-dividend date was Thursday, March 14th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.10. This represents a $0.41 annualized dividend and a dividend yield of 1.98%. Cenovus Energy’s dividend payout ratio (DPR) is currently 25.95%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CVE shares. Morgan Stanley increased their price objective on Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. StockNews.com upgraded Cenovus Energy from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. UBS Group upgraded Cenovus Energy from a “neutral” rating to a “buy” rating in a report on Friday, February 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $28.00 price target on shares of Cenovus Energy in a report on Friday, January 26th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Cenovus Energy presently has an average rating of “Buy” and an average price target of $26.67.

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.