Deutsche Bank AG Purchases New Position in Cenovus Energy Inc $CVE

Deutsche Bank AG acquired a new stake in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,685,060 shares of the oil and gas company's stock, valued at approximately $91,426,000. Deutsche Bank AG owned 0.20% of Cenovus Energy at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. J.W. Cole Advisors Inc. boosted its position in Cenovus Energy by 3.9% in the 4th quarter. J.W. Cole Advisors Inc. now owns 13,407 shares of the oil and gas company's stock valued at $227,000 after buying an additional 500 shares during the last quarter. Gateway Investment Advisers LLC grew its stake in shares of Cenovus Energy by 0.6% during the fourth quarter. Gateway Investment Advisers LLC now owns 93,986 shares of the oil and gas company's stock valued at $1,590,000 after acquiring an additional 523 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Cenovus Energy by 0.9% during the fourth quarter. International Assets Investment Management LLC now owns 65,248 shares of the oil and gas company's stock worth $1,104,000 after acquiring an additional 565 shares during the last quarter. OLD National Bancorp IN increased its position in shares of Cenovus Energy by 5.2% during the first quarter. OLD National Bancorp IN now owns 12,597 shares of the oil and gas company's stock worth $334,000 after acquiring an additional 618 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Cenovus Energy by 24.4% in the fourth quarter. Farther Finance Advisors LLC now owns 3,307 shares of the oil and gas company's stock worth $56,000 after acquiring an additional 649 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CVE shares. Lake Street Capital set a $36.00 price target on Cenovus Energy in a research note on Wednesday, May 13th. Royal Bank Of Canada upped their price objective on Cenovus Energy from $47.00 to $51.00 and gave the company an "outperform" rating in a research note on Thursday, July 30th. Zacks Research downgraded Cenovus Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 16th. Raymond James Financial lowered Cenovus Energy from a "strong-buy" rating to an "outperform" rating in a research report on Wednesday, May 6th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Cenovus Energy in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $36.25.

Cenovus Energy Price Performance

Shares of NYSE:CVE opened at $32.58 on Friday. The stock has a market cap of $60.25 billion, a price-to-earnings ratio of 12.53 and a beta of 0.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.04. Cenovus Energy Inc has a 12 month low of $14.85 and a 12 month high of $33.40. The stock's 50 day moving average price is $27.74 and its 200 day moving average price is $26.41.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its earnings results on Wednesday, July 29th. The oil and gas company reported $1.11 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.11. Cenovus Energy had a return on equity of 21.08% and a net margin of 12.37%.The firm had revenue of $14.59 billion for the quarter, compared to analyst estimates of $11.87 billion. During the same period in the previous year, the company earned $0.45 earnings per share. Cenovus Energy's revenue was up 47.9% compared to the same quarter last year. Equities research analysts anticipate that Cenovus Energy Inc will post 3.2 earnings per share 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. Investors of record on Tuesday, September 15th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, September 15th. Cenovus Energy's payout ratio is presently 24.62%.

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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