Cenovus Energy Inc $CVE Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Cenovus Energy by 12.8% in Q4, buying 7,197,843 shares to hold 63,525,477 shares (about 3.37% of the company) valued at roughly $1.075 billion.
• Analysts have an average rating of Buy on Cenovus with a consensus price target of $29.67 (4 Strong Buy, 8 Buy, 2 Hold).
• Cenovus beat EPS estimates with $0.36 vs. $0.28 expected but missed revenue ($9.44B vs. $10.89B est.), and pays a quarterly dividend of $0.20 ($0.80 annualized, ~2.7% yield).

Vanguard Group Inc. grew its holdings in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 12.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,525,477 shares of the oil and gas company's stock after purchasing an additional 7,197,843 shares during the quarter. Vanguard Group Inc. owned approximately 3.37% of Cenovus Energy worth $1,074,660,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVE. Financial Management Professionals Inc. acquired a new position in shares of Cenovus Energy during the 4th quarter valued at about $25,000. NBC Securities Inc. boosted its position in shares of Cenovus Energy by 961.5% during the 4th quarter. NBC Securities Inc. now owns 1,656 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 1,500 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Cenovus Energy by 74.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company's stock valued at $44,000 after acquiring an additional 1,384 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Cenovus Energy during the 3rd quarter valued at about $50,000. Finally, Allworth Financial LP boosted its position in shares of Cenovus Energy by 32.2% during the 3rd quarter. Allworth Financial LP now owns 3,025 shares of the oil and gas company's stock valued at $51,000 after acquiring an additional 737 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. UBS Group reissued a "buy" rating on shares of Cenovus Energy in a research report on Thursday, April 9th. Weiss Ratings reissued a "hold (c)" rating on shares of Cenovus Energy in a research report on Friday, April 24th. TD Securities reissued a "buy" rating on shares of Cenovus Energy in a research report on Friday, February 20th. Wall Street Zen raised shares of Cenovus Energy from a "hold" rating to a "buy" rating in a research report on Saturday, April 18th. Finally, Veritas raised shares of Cenovus Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, March 10th. Four equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Cenovus Energy presently has an average rating of "Buy" and a consensus price target of $29.67.

Cenovus Energy Stock Up 0.2%

Shares of CVE opened at $29.30 on Friday. The firm has a market cap of $54.93 billion, a P/E ratio of 19.15 and a beta of 0.37. Cenovus Energy Inc has a 12-month low of $11.60 and a 12-month high of $29.37. The company's 50-day moving average price is $24.92 and its 200 day moving average price is $20.45. 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 (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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.08. The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $10.89 billion. Cenovus Energy had a net margin of 7.92% and a return on equity of 13.25%. During the same period in the previous year, the firm earned $0.07 EPS. On average, sell-side analysts forecast that Cenovus Energy Inc will post 2.28 earnings per share for the current year.

Cenovus Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, March 13th. Cenovus Energy's payout ratio is 38.56%.

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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