Cenovus Energy Inc $CVE Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. raised its stake in Cenovus Energy by 25.9% in Q3 to 982,627 shares (an additional 202,091 shares), worth about $16.68 million (≈0.06% of the company).
• Cenovus announced a quarterly dividend of $0.20 (annualized $0.80) for a ~3.5% yield, with an ex‑dividend date of March 13 and payment on March 31.
• Wall Street consensus is a “Moderate Buy” with an average price target of $27.33, based on a mix of Strong Buy/Buy/Hold/Sell ratings from analysts.

American Century Companies Inc. raised its stake in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 25.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 982,627 shares of the oil and gas company's stock after buying an additional 202,091 shares during the period. American Century Companies Inc. owned approximately 0.06% of Cenovus Energy worth $16,684,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its position in Cenovus Energy by 16.8% during the third quarter. Jones Financial Companies Lllp now owns 6,369 shares of the oil and gas company's stock worth $113,000 after purchasing an additional 917 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Cenovus Energy by 20.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 5,933 shares of the oil and gas company's stock worth $101,000 after buying an additional 1,021 shares in the last quarter. OMERS ADMINISTRATION Corp grew its stake in Cenovus Energy by 1.1% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 101,257 shares of the oil and gas company's stock valued at $1,375,000 after acquiring an additional 1,076 shares during the last quarter. Penbrook Management LLC increased its holdings in Cenovus Energy by 3.8% during the 3rd quarter. Penbrook Management LLC now owns 29,880 shares of the oil and gas company's stock valued at $508,000 after acquiring an additional 1,080 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in Cenovus Energy by 104.3% during the 2nd quarter. Allworth Financial LP now owns 2,288 shares of the oil and gas company's stock valued at $31,000 after acquiring an additional 1,168 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVE has been the subject of several research reports. JPMorgan Chase & Co. restated a "neutral" rating on shares of Cenovus Energy in a research report on Tuesday, January 20th. The Goldman Sachs Group reissued a "buy" rating and set a $22.00 price target on shares of Cenovus Energy in a research report on Monday, February 2nd. Scotiabank raised Cenovus Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, February 20th. Royal Bank Of Canada upped their price objective on Cenovus Energy from $29.00 to $31.00 and gave the company an "outperform" rating in a research report on Wednesday, February 18th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Cenovus Energy in a research note on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $27.33.

Cenovus Energy Stock Down 0.8%

Shares of NYSE CVE opened at $22.63 on Wednesday. The stock has a fifty day moving average price of $20.02 and a 200 day moving average price of $18.23. The company has a current ratio of 1.57, a quick ratio of 1.04 and a debt-to-equity ratio of 0.35. Cenovus Energy Inc has a 12-month low of $10.23 and a 12-month high of $23.89. The company has a market cap of $42.55 billion, a P/E ratio of 14.79 and a beta of 0.43.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.08. The company had revenue of $9.44 billion for the quarter, compared to analysts' expectations of $10.89 billion. Cenovus Energy had a return on equity of 13.25% and a net margin of 7.92%.During the same quarter in the previous year, the firm posted $0.07 earnings per share. Research analysts anticipate that Cenovus Energy Inc will post 1.49 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Friday, March 13th. Cenovus Energy's dividend payout ratio is currently 37.25%.

About Cenovus Energy

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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