Vanguard Group Inc. Trims Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

Vanguard Group Inc. lowered its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,554,943 shares of the oil and gas company’s stock after selling 1,925,206 shares during the quarter. Vanguard Group Inc. owned 2.55% of Cenovus Energy worth $791,790,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Capital World Investors boosted its stake in shares of Cenovus Energy by 5.4% during the fourth quarter. Capital World Investors now owns 150,534,829 shares of the oil and gas company’s stock valued at $2,508,185,000 after purchasing an additional 7,750,480 shares during the period. Wellington Management Group LLP grew its stake in Cenovus Energy by 0.8% in the 3rd quarter. Wellington Management Group LLP now owns 47,327,214 shares of the oil and gas company’s stock worth $986,334,000 after acquiring an additional 388,652 shares in the last quarter. TD Asset Management Inc increased its position in shares of Cenovus Energy by 26.5% during the fourth quarter. TD Asset Management Inc now owns 42,191,779 shares of the oil and gas company’s stock worth $706,503,000 after acquiring an additional 8,841,374 shares during the period. Mackenzie Financial Corp increased its position in shares of Cenovus Energy by 4.4% during the fourth quarter. Mackenzie Financial Corp now owns 11,053,328 shares of the oil and gas company’s stock worth $184,278,000 after acquiring an additional 462,273 shares during the period. Finally, Capital International Investors raised its stake in shares of Cenovus Energy by 1,779.0% during the fourth quarter. Capital International Investors now owns 10,725,418 shares of the oil and gas company’s stock valued at $178,723,000 after acquiring an additional 10,154,618 shares in the last quarter. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Down 0.7 %

Shares of NYSE CVE opened at $18.65 on Friday. Cenovus Energy Inc. has a 12-month low of $14.69 and a 12-month high of $21.90. The stock’s fifty day simple moving average is $20.10 and its two-hundred day simple moving average is $18.35. The stock has a market capitalization of $34.64 billion, a PE ratio of 10.36 and a beta of 2.06. 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 issued its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $9.98 billion. As a group, analysts expect that Cenovus Energy Inc. will post 2.04 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on CVE shares. Morgan Stanley raised their price objective on Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Raymond James upgraded Cenovus Energy to a “moderate buy” rating in a report on Tuesday, May 28th. Finally, StockNews.com cut shares of Cenovus Energy from a “strong-buy” rating to a “buy” rating in a report on Friday, June 14th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $29.00.

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.