Massmutual Trust Co. FSB ADV Has $51,000 Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

Massmutual Trust Co. FSB ADV increased its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 124.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,558 shares of the oil and gas company’s stock after purchasing an additional 1,417 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Cenovus Energy were worth $51,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CVE. PNC Financial Services Group Inc. lifted its position in shares of Cenovus Energy by 3.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 76,366 shares of the oil and gas company’s stock worth $1,590,000 after purchasing an additional 2,821 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Cenovus Energy during the 3rd quarter worth about $213,000. Envestnet Portfolio Solutions Inc. bought a new position in Cenovus Energy during the third quarter valued at about $202,000. Envestnet Asset Management Inc. increased its stake in Cenovus Energy by 35.1% during the third quarter. Envestnet Asset Management Inc. now owns 618,273 shares of the oil and gas company’s stock valued at $12,872,000 after acquiring an additional 160,763 shares during the period. Finally, Rathbones Group PLC bought a new position in Cenovus Energy during the third quarter valued at about $204,000. Institutional investors and hedge funds own 51.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. StockNews.com lowered Cenovus Energy from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 14th. Morgan Stanley boosted their price target on Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Raymond James upgraded Cenovus Energy to a “moderate buy” rating in a research note on Tuesday, May 28th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $29.00.

Cenovus Energy Trading Down 0.7 %

CVE stock opened at $18.65 on Friday. Cenovus Energy Inc. has a 1-year low of $14.69 and a 1-year high of $21.90. The firm has a market cap of $34.64 billion, a P/E ratio of 10.36 and a beta of 2.06. The business’s 50 day moving average is $20.10 and its 200-day moving average is $18.35. The company has a current ratio of 1.70, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.11. Cenovus Energy had a return on equity of 16.53% and a net margin of 8.73%. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.98 billion. Equities analysts anticipate that Cenovus Energy Inc. will post 2.04 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were issued a $0.0981 dividend. This represents a $1.18 annualized dividend and a dividend yield of 6.31%. The ex-dividend date was Thursday, May 16th. Cenovus Energy’s payout ratio is currently 28.89%.

About Cenovus Energy

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.