American Century Companies Inc. Buys 28,623 Shares of Cenovus Energy Inc $CVE

Key Points

• American Century Companies Inc. increased its holdings in Cenovus Energy Inc. by 4.3%, acquiring an additional 28,623 shares to own a total of 689,299 shares worth approximately $9,580,000.
• Several institutional investors have significantly increased their positions in Cenovus Energy, with Mackenzie Financial Corp. raising its stake by 56.5%, and Vanguard Group Inc. by 8.8%.
• Cenovus Energy has a current consensus rating of "Buy" from analysts, with a price target rising to $23.33, following upgrades and downgrades from various financial firms.

American Century Companies Inc. raised its holdings in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 689,299 shares of the oil and gas company's stock after buying an additional 28,623 shares during the period. American Century Companies Inc.'s holdings in Cenovus Energy were worth $9,580,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Cenovus Energy by 8.8% during the 1st quarter. Vanguard Group Inc. now owns 54,483,601 shares of the oil and gas company's stock worth $757,213,000 after buying an additional 4,401,045 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Cenovus Energy by 56.5% during the 1st quarter. Mackenzie Financial Corp now owns 19,481,233 shares of the oil and gas company's stock worth $270,742,000 after buying an additional 7,035,004 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Cenovus Energy by 33.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 17,363,386 shares of the oil and gas company's stock worth $241,513,000 after buying an additional 4,362,384 shares during the period. Invesco Ltd. boosted its holdings in shares of Cenovus Energy by 40.2% during the 1st quarter. Invesco Ltd. now owns 11,281,543 shares of the oil and gas company's stock worth $156,926,000 after buying an additional 3,237,659 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Cenovus Energy by 53.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,030,017 shares of the oil and gas company's stock worth $111,698,000 after buying an additional 2,803,862 shares during the period. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CVE. National Bankshares raised shares of Cenovus Energy from a "sector perform" rating to an "outperform" rating in a report on Friday, August 22nd. National Bank Financial upgraded shares of Cenovus Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 22nd. Royal Bank Of Canada boosted their target price on shares of Cenovus Energy from $25.00 to $26.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Veritas cut shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Wall Street Zen upgraded shares of Cenovus Energy from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $23.33.

Cenovus Energy Stock Down 1.8%

NYSE:CVE traded down $0.31 during trading hours on Monday, reaching $16.64. The company had a trading volume of 13,377,260 shares, compared to its average volume of 13,715,070. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.24. The firm has a market cap of $29.92 billion, a price-to-earnings ratio of 16.47 and a beta of 0.99. The business's 50-day simple moving average is $14.82 and its two-hundred day simple moving average is $13.77. Cenovus Energy Inc has a twelve month low of $10.23 and a twelve month high of $19.06.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its quarterly earnings results on Thursday, July 31st. The oil and gas company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.19. Cenovus Energy had a net margin of 5.18% and a return on equity of 9.06%. The business had revenue of $10.66 billion during the quarter, compared to analysts' expectations of $10.64 billion. During the same period last year, the company posted $0.62 earnings per share. The business's quarterly revenue was down 12.6% on a year-over-year basis. On average, equities analysts expect that Cenovus Energy Inc will post 1.49 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, September 15th. This represents a $0.80 annualized dividend and a dividend yield of 4.8%. Cenovus Energy's dividend payout ratio (DPR) is presently 57.43%.

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.