Cenovus Energy Inc. (NYSE:CVE) Position Increased by Deutsche Bank AG

Deutsche Bank AG lifted its holdings in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 4.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,117,414 shares of the oil and gas company's stock after buying an additional 42,817 shares during the quarter. Deutsche Bank AG owned approximately 0.06% of Cenovus Energy worth $16,929,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CVE. Franklin Resources Inc. lifted its holdings in Cenovus Energy by 105.0% in the fourth quarter. Franklin Resources Inc. now owns 4,337,551 shares of the oil and gas company's stock worth $65,667,000 after acquiring an additional 2,221,549 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Cenovus Energy by 4.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,226,155 shares of the oil and gas company's stock worth $79,176,000 after purchasing an additional 245,302 shares during the last quarter. Amundi boosted its position in Cenovus Energy by 1.7% during the 4th quarter. Amundi now owns 4,678,976 shares of the oil and gas company's stock valued at $71,775,000 after purchasing an additional 77,548 shares during the period. Alberta Investment Management Corp boosted its position in Cenovus Energy by 10.1% during the 4th quarter. Alberta Investment Management Corp now owns 4,494,400 shares of the oil and gas company's stock valued at $68,094,000 after purchasing an additional 411,000 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Cenovus Energy during the 4th quarter worth $3,649,000. 51.19% of the stock is owned by institutional investors and hedge funds.

Cenovus Energy Stock Performance

CVE stock opened at $13.76 on Thursday. The stock has a market cap of $25.08 billion, a P/E ratio of 11.37 and a beta of 0.95. 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 firm has a 50 day simple moving average of $12.64 and a 200 day simple moving average of $14.27. Cenovus Energy Inc. has a 52 week low of $10.23 and a 52 week high of $21.08.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its quarterly earnings results on Thursday, May 8th. The oil and gas company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.29 by $0.03. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The business had revenue of $11.15 billion for the quarter, compared to analysts' expectations of $12.39 billion. During the same period in the previous year, the company posted $0.62 EPS. Research analysts anticipate that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.1269 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a yield of 3.69%. Cenovus Energy's dividend payout ratio (DPR) is currently 51.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. National Bankshares reiterated a "sector perform" rating on shares of Cenovus Energy in a research report on Friday, April 25th. The Goldman Sachs Group reduced their target price on shares of Cenovus Energy from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $25.00 price target on shares of Cenovus Energy in a report on Friday, April 11th. Finally, Scotiabank upgraded Cenovus Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $25.75.

Cenovus Energy Profile

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.

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