Cenovus Energy Inc. (NYSE:CVE) Shares Purchased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 96.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 820,575 shares of the oil and gas company's stock after purchasing an additional 402,576 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Cenovus Energy were worth $12,423,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVE. Capital World Investors increased its holdings in shares of Cenovus Energy by 15.8% during the 4th quarter. Capital World Investors now owns 191,412,590 shares of the oil and gas company's stock worth $2,901,131,000 after buying an additional 26,127,617 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Cenovus Energy by 48.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,001,002 shares of the oil and gas company's stock worth $196,935,000 after acquiring an additional 4,220,663 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of Cenovus Energy by 91.7% in the 4th quarter. Toronto Dominion Bank now owns 7,233,491 shares of the oil and gas company's stock valued at $109,515,000 after purchasing an additional 3,460,311 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Cenovus Energy by 105.0% in the 4th quarter. Franklin Resources Inc. now owns 4,337,551 shares of the oil and gas company's stock valued at $65,667,000 after purchasing an additional 2,221,549 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of 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 and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CVE. National Bankshares reaffirmed a "sector perform" rating on shares of Cenovus Energy in a research note on Friday, April 25th. Veritas lowered shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Morgan Stanley restated an "overweight" rating on shares of Cenovus Energy in a report on Tuesday, April 15th. The Goldman Sachs Group cut their price objective on Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued 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 issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cenovus Energy currently has an average rating of "Moderate Buy" and a consensus price target of $25.75.

Cenovus Energy Stock Down 0.4%

Shares of CVE stock traded down $0.06 on Tuesday, reaching $13.58. 6,934,633 shares of the stock were exchanged, compared to its average volume of 9,163,352. The company has a market capitalization of $24.74 billion, a price-to-earnings ratio of 11.22 and a beta of 0.95. The business's 50 day moving average price is $12.68 and its 200 day moving average price is $14.09. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. Cenovus Energy Inc. has a twelve month low of $10.23 and a twelve month high of $21.08.

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

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.