American Century Companies Inc. Raises Position in Cenovus Energy Inc. (NYSE:CVE)

American Century Companies Inc. lifted its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 8.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 566,324 shares of the oil and gas company’s stock after buying an additional 42,089 shares during the period. American Century Companies Inc.’s holdings in Cenovus Energy were worth $11,132,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Banque Cantonale Vaudoise bought a new position in Cenovus Energy during the 1st quarter valued at $30,000. Wolff Wiese Magana LLC raised its holdings in shares of Cenovus Energy by 71.4% in the first quarter. Wolff Wiese Magana LLC now owns 2,400 shares of the oil and gas company’s stock valued at $48,000 after purchasing an additional 1,000 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Cenovus Energy by 124.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 2,558 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 1,417 shares in the last quarter. American National Bank purchased a new position in Cenovus Energy during the first quarter worth about $52,000. Finally, Lindbrook Capital LLC grew its position in Cenovus Energy by 17.6% in the 1st quarter. Lindbrook Capital LLC now owns 4,240 shares of the oil and gas company’s stock worth $85,000 after purchasing an additional 636 shares in the last quarter. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Trading Down 0.6 %

Shares of CVE stock opened at $17.11 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 0.25. The firm has a market cap of $31.81 billion, a P/E ratio of 9.51 and a beta of 2.05. The company has a 50 day moving average of $18.53 and a 200-day moving average of $19.44. Cenovus Energy Inc. has a 12-month low of $14.69 and a 12-month high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its earnings results on Thursday, August 1st. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.13). The firm had revenue of $10.88 billion during the quarter, compared to analysts’ expectations of $9.78 billion. Cenovus Energy had a return on equity of 16.61% and a net margin of 8.56%. Sell-side analysts anticipate that Cenovus Energy Inc. will post 1.85 earnings per share for the current year.

Cenovus Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.132 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Friday, September 13th. Cenovus Energy’s dividend payout ratio is currently 29.44%.

Analyst Ratings Changes

Several equities analysts have commented on CVE shares. Scotiabank dropped their target price on shares of Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. StockNews.com lowered Cenovus Energy from a “strong-buy” rating to a “buy” rating in a report on Friday, July 26th. Finally, Raymond James upgraded Cenovus Energy to a “moderate buy” rating in a research note on Tuesday, May 28th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $30.67.

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.