Charles Schwab Investment Management Inc. Has $59.98 Million Stake in Cenovus Energy Inc. (NYSE:CVE)

Charles Schwab Investment Management Inc. raised its holdings in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,958,866 shares of the oil and gas company’s stock after acquiring an additional 305,674 shares during the period. Charles Schwab Investment Management Inc. owned about 0.22% of Cenovus Energy worth $59,983,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Metis Global Partners LLC grew its stake in Cenovus Energy by 9.8% in the fourth quarter. Metis Global Partners LLC now owns 82,429 shares of the oil and gas company’s stock valued at $1,250,000 after acquiring an additional 7,324 shares during the period. SVB Wealth LLC bought a new stake in shares of Cenovus Energy in the fourth quarter valued at about $182,000. K.J. Harrison & Partners Inc lifted its holdings in shares of Cenovus Energy by 26.1% in the fourth quarter. K.J. Harrison & Partners Inc now owns 330,045 shares of the oil and gas company’s stock valued at $5,045,000 after purchasing an additional 68,300 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Cenovus Energy by 6.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,162,999 shares of the oil and gas company’s stock valued at $17,619,000 after purchasing an additional 72,450 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co lifted its holdings in shares of Cenovus Energy by 1.9% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 222,071 shares of the oil and gas company’s stock valued at $3,123,000 after purchasing an additional 4,160 shares in the last quarter. 51.19% of the stock is owned by institutional investors and hedge funds.

Cenovus Energy Stock Performance

CVE opened at $13.25 on Thursday. Cenovus Energy Inc. has a 52-week low of $12.07 and a 52-week high of $21.90. The firm has a market capitalization of $24.16 billion, a PE ratio of 10.95 and a beta of 1.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. The business’s 50-day simple moving average is $14.59 and its 200 day simple moving average is $15.76.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.27). Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $11.08 billion. As a group, sell-side analysts expect that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.1269 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.51 annualized dividend and a yield of 3.83%. Cenovus Energy’s dividend payout ratio is 40.50%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CVE shares. Royal Bank of Canada cut their price target on Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. Finally, National Bank Financial lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, February 21st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.25.

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.