Bank of New York Mellon Corp Increases Holdings in Cenovus Energy Inc (NYSE:CVE)

Bank of New York Mellon Corp increased its position in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 1.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,184,280 shares of the oil and gas company's stock after buying an additional 21,281 shares during the quarter. Bank of New York Mellon Corp owned 0.06% of Cenovus Energy worth $16,473,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Capital World Investors lifted its position in shares of Cenovus Energy by 15.8% in the fourth quarter. Capital World Investors now owns 191,412,590 shares of the oil and gas company's stock valued at $2,901,131,000 after buying an additional 26,127,617 shares during the last quarter. Capital International Investors lifted its holdings in Cenovus Energy by 0.7% during the 4th quarter. Capital International Investors now owns 53,572,829 shares of the oil and gas company's stock worth $811,769,000 after purchasing an additional 382,519 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Cenovus Energy by 48.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,001,002 shares of the oil and gas company's stock worth $196,935,000 after purchasing an additional 4,220,663 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Cenovus Energy by 1.0% during the 4th quarter. Mackenzie Financial Corp now owns 12,446,229 shares of the oil and gas company's stock worth $188,467,000 after purchasing an additional 117,568 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Cenovus Energy by 29.2% during the 4th quarter. Geode Capital Management LLC now owns 8,287,334 shares of the oil and gas company's stock worth $128,783,000 after purchasing an additional 1,873,415 shares during the last quarter. 51.19% of the stock is currently owned by institutional investors.

Cenovus Energy Stock Performance

Shares of CVE traded up $0.03 on Friday, reaching $14.07. 10,698,040 shares of the company's stock traded hands, compared to its average volume of 9,974,930. The company has a current ratio of 1.46, a quick ratio of 0.84 and a debt-to-equity ratio of 0.25. The stock has a market cap of $25.46 billion, a PE ratio of 13.15 and a beta of 0.93. The stock's 50 day simple moving average is $13.93 and its two-hundred day simple moving average is $13.74. Cenovus Energy Inc has a 52-week low of $10.23 and a 52-week high of $20.40.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. Cenovus Energy had a return on equity of 9.56% and a net margin of 5.22%. The business had revenue of $11.15 billion during the quarter, compared to the consensus estimate of $12.39 billion. During the same period last year, the business posted $0.62 earnings per share. On average, analysts forecast that Cenovus Energy Inc will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently disclosed a dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a dividend of $0.20 per share. This is a positive change from Cenovus Energy's previous dividend of $0.11. The ex-dividend date was Friday, June 13th. This represents a yield of 4.25%. Cenovus Energy's dividend payout ratio (DPR) is currently 54.21%.

Analyst Ratings Changes

CVE has been the topic of several recent analyst reports. Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. Veritas lowered Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. National Bankshares restated a "sector perform" rating on shares of Cenovus Energy in a research report on Friday, April 25th. The Goldman Sachs Group cut their target price on Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $25.00 target price on shares of Cenovus Energy in a report on Friday, April 11th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $23.00.

Cenovus Energy Company 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.