Deutsche Bank AG Acquires 158,744 Shares of Cenovus Energy Inc (NYSE:CVE)

Key Points

• Deutsche Bank AG increased its stake in Cenovus Energy Inc by 14.2%, now owning approximately 1.27 million shares valued at $17.75 million.
• Cenovus Energy announced a dividend increase from $0.11 to $0.20, reflecting a dividend yield of 425.0% with a payout ratio of 57.43%.
• The company reported a net margin of 5.18%, with quarterly earnings of $0.33 per share, exceeding analysts' expectations of $0.14.

Deutsche Bank AG raised its position in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 14.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,276,158 shares of the oil and gas company's stock after purchasing an additional 158,744 shares during the period. Deutsche Bank AG owned approximately 0.07% of Cenovus Energy worth $17,751,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Capital World Investors raised its position in Cenovus Energy by 15.8% during the fourth quarter. Capital World Investors now owns 191,412,590 shares of the oil and gas company's stock valued at $2,901,131,000 after purchasing an additional 26,127,617 shares in the last quarter. Vanguard Group Inc. raised its position in Cenovus Energy by 8.8% during the first quarter. Vanguard Group Inc. now owns 54,483,601 shares of the oil and gas company's stock valued at $757,213,000 after purchasing an additional 4,401,045 shares in the last quarter. Capital International Investors raised its position in Cenovus Energy by 0.7% during the fourth quarter. Capital International Investors now owns 53,572,829 shares of the oil and gas company's stock valued at $811,769,000 after purchasing an additional 382,519 shares in the last quarter. Mackenzie Financial Corp raised its position in Cenovus Energy by 56.5% during the first quarter. Mackenzie Financial Corp now owns 19,481,233 shares of the oil and gas company's stock valued at $270,742,000 after purchasing an additional 7,035,004 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of 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 buying an additional 4,220,663 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CVE shares. Wall Street Zen upgraded shares of Cenovus Energy from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Royal Bank Of Canada upped their price target on shares of Cenovus Energy from $25.00 to $26.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Veritas downgraded shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 14th. The Goldman Sachs Group decreased their price objective on Cenovus Energy from $18.00 to $16.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Finally, National Bankshares restated a "sector perform" rating on shares of Cenovus Energy in a report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $23.33.

Cenovus Energy Trading Down 0.6%

CVE traded down $0.09 during trading on Friday, reaching $15.04. 7,425,989 shares of the stock traded hands, compared to its average volume of 13,300,274. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $27.05 billion, a PE ratio of 14.89 and a beta of 0.97. The stock's 50-day moving average is $14.45 and its 200 day moving average is $13.70. Cenovus Energy Inc has a 12 month low of $10.23 and a 12 month high of $20.03.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings data on Thursday, July 31st. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.19. Cenovus Energy had a net margin of 5.18% and a return on equity of 9.06%. The company had revenue of $10.66 billion for the quarter, compared to analysts' expectations of $10.64 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. The business's revenue was down 12.6% on a year-over-year basis. Equities analysts anticipate that Cenovus Energy Inc will post 1.49 earnings per share for the current year.

Cenovus Energy Increases Dividend

The business also recently declared a dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a dividend of $0.20 per share. This represents a dividend yield of 425.0%. The ex-dividend date was Friday, June 13th. This is an increase from Cenovus Energy's previous dividend of $0.11. Cenovus Energy's dividend payout ratio (DPR) is 57.43%.

Cenovus Energy Profile

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.