Zurcher Kantonalbank Zurich Cantonalbank Has $15.72 Million Stock Holdings in Cenovus Energy Inc $CVE

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 12.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 928,129 shares of the oil and gas company’s stock after buying an additional 102,918 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cenovus Energy were worth $15,722,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CVE. Jones Financial Companies Lllp raised its holdings in shares of Cenovus Energy by 574.8% in the 1st quarter. Jones Financial Companies Lllp now owns 21,607 shares of the oil and gas company’s stock valued at $301,000 after purchasing an additional 18,405 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Cenovus Energy by 6.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 747,472 shares of the oil and gas company’s stock valued at $10,397,000 after purchasing an additional 44,125 shares during the period. Prudential Financial Inc. bought a new stake in shares of Cenovus Energy in the 2nd quarter valued at about $525,000. EverSource Wealth Advisors LLC raised its holdings in shares of Cenovus Energy by 57.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,912 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 1,800 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Cenovus Energy in the 2nd quarter valued at about $495,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Cenovus Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 24th. Wall Street Zen raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Cenovus Energy in a report on Tuesday, January 20th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Cenovus Energy in a report on Friday, February 20th. Finally, TD Securities reaffirmed a “buy” rating on shares of Cenovus Energy in a report on Friday, February 20th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $29.67.

Cenovus Energy Stock Up 1.4%

Cenovus Energy stock opened at $25.97 on Thursday. The stock has a market cap of $48.69 billion, a P/E ratio of 16.97 and a beta of 0.34. The company has a quick ratio of 1.04, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. Cenovus Energy Inc has a twelve month low of $11.60 and a twelve month high of $27.65. The company’s 50-day moving average price is $24.27 and its two-hundred day moving average price is $20.05.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.08. The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $10.89 billion. Cenovus Energy had a net margin of 7.92% and a return on equity of 13.25%. During the same period in the prior year, the firm earned $0.07 EPS. As a group, analysts expect that Cenovus Energy Inc will post 2.28 EPS for the current year.

Cenovus Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, March 13th. Cenovus Energy’s dividend payout ratio is currently 38.56%.

Cenovus Energy Company Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.