137,077 Shares in Cenovus Energy Inc (NYSE:CVE) Acquired by CWA Asset Management Group LLC

CWA Asset Management Group LLC purchased a new stake in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 137,077 shares of the oil and gas company's stock, valued at approximately $1,907,000.

A number of other hedge funds also recently made changes to their positions in the stock. Capital World Investors raised its holdings in 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 purchasing an additional 26,127,617 shares during the last quarter. Capital International Investors increased its stake in shares of Cenovus Energy by 0.7% in the 4th quarter. Capital International Investors now owns 53,572,829 shares of the oil and gas company's stock valued at $811,769,000 after acquiring an additional 382,519 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Cenovus Energy by 48.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 13,001,002 shares of the oil and gas company's stock valued at $196,935,000 after purchasing an additional 4,220,663 shares during the period. Mackenzie Financial Corp grew its position in Cenovus Energy by 1.0% in the 4th quarter. Mackenzie Financial Corp now owns 12,446,229 shares of the oil and gas company's stock valued at $188,467,000 after purchasing an additional 117,568 shares during the period. Finally, Geode Capital Management LLC grew its position in Cenovus Energy by 29.2% in the 4th quarter. Geode Capital Management LLC now owns 8,287,334 shares of the oil and gas company's stock valued at $128,783,000 after purchasing an additional 1,873,415 shares during the period. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CVE. National Bank Financial downgraded shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a report on Friday, February 21st. Veritas cut Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $25.00 target price on shares of Cenovus Energy in a research note on Friday, April 11th. National Bankshares reaffirmed a "sector perform" rating on shares of Cenovus Energy in a research note on Friday, April 25th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a research report on Tuesday, April 15th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $25.75.

Cenovus Energy Trading Down 0.0%

NYSE:CVE traded down $0.01 during trading hours on Friday, hitting $14.64. The company had a trading volume of 11,186,760 shares, compared to its average volume of 9,597,840. Cenovus Energy Inc has a 52 week low of $10.23 and a 52 week high of $20.76. The company has a market capitalization of $26.67 billion, a PE ratio of 13.68 and a beta of 0.94. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.46 and a quick ratio of 0.84. The stock has a 50-day moving average price of $13.10 and a 200 day moving average price of $13.86.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its quarterly earnings results 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 9.56% and a net margin of 5.22%. The firm had revenue of $11.15 billion during the quarter, compared to analyst estimates of $12.39 billion. During the same quarter in the previous year, the firm earned $0.62 EPS. On average, equities research analysts predict that Cenovus Energy Inc will post 1.49 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The company also recently declared a dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.20 per share. This is an increase from Cenovus Energy's previous dividend of $0.11. This represents a dividend yield of 4.25%. The ex-dividend date is Friday, June 13th. Cenovus Energy's payout ratio is currently 54.21%.

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.