Cenovus Energy Inc $CVE Shares Acquired by Amundi

Key Points

• Amundi increased its Cenovus Energy stake by 1.4% in the first quarter, purchasing 71,891 additional shares and bringing its holdings to 5.37 million shares worth approximately $142.4 million. Institutional investors collectively own 51.19% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $36.25; ratings include one Strong Buy, 11 Buys and three Holds.
• Cenovus reported quarterly revenue of $14.59 billion, up 47.9% year over year, while earnings of $1.11 per share matched estimates. The company also declared a quarterly dividend of $0.22 per share, representing a 2.9% yield.

Amundi raised its holdings in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 1.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,366,196 shares of the oil and gas company's stock after buying an additional 71,891 shares during the period. Amundi owned about 0.29% of Cenovus Energy worth $142,365,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Jones Financial Companies Lllp lifted its position in shares of Cenovus Energy by 574.8% during the first quarter. Jones Financial Companies Lllp now owns 21,607 shares of the oil and gas company's stock worth $301,000 after purchasing an additional 18,405 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Cenovus Energy by 6.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 747,472 shares of the oil and gas company's stock worth $10,397,000 after buying an additional 44,125 shares during the period. Prudential Financial Inc. purchased a new stake in Cenovus Energy during the 2nd quarter worth $525,000. EverSource Wealth Advisors LLC lifted its holdings in Cenovus Energy by 57.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,912 shares of the oil and gas company's stock worth $67,000 after buying an additional 1,800 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Cenovus Energy in the 2nd quarter valued at about $495,000. Institutional investors and hedge funds own 51.19% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CVE shares. The Goldman Sachs Group restated a "buy" rating on shares of Cenovus Energy in a research note on Wednesday, May 13th. UBS Group reiterated a "buy" rating on shares of Cenovus Energy in a research note on Thursday, April 9th. Weiss Ratings lowered shares of Cenovus Energy from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday. Raymond James Financial cut shares of Cenovus Energy from a "strong-buy" rating to an "outperform" rating in a report on Wednesday, May 6th. Finally, Lake Street Capital set a $36.00 target price on shares of Cenovus Energy in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.25.

Cenovus Energy Price Performance

Shares of Cenovus Energy stock opened at $30.14 on Friday. Cenovus Energy Inc has a 52 week low of $14.48 and a 52 week high of $32.07. The company has a current ratio of 1.63, a quick ratio of 1.00 and a debt-to-equity ratio of 0.25. The stock has a market cap of $56.07 billion, a PE ratio of 11.59 and a beta of 0.34. The company's 50-day moving average price is $27.28 and its two-hundred day moving average price is $25.22.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $1.11 EPS for the quarter, meeting analysts' consensus estimates of $1.11. Cenovus Energy had a return on equity of 21.08% and a net margin of 12.37%.The company had revenue of $14.59 billion during the quarter, compared to the consensus estimate of $11.87 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The company's quarterly revenue was up 47.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cenovus Energy Inc will post 3.02 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Cenovus Energy's dividend payout ratio is presently 24.62%.

Cenovus Energy Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.

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