Envestnet Asset Management Inc. Boosts Holdings in Cenovus Energy Inc (NYSE:CVE)

Envestnet Asset Management Inc. boosted its holdings in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 26.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 890,655 shares of the oil and gas company's stock after buying an additional 188,982 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Cenovus Energy were worth $12,389,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CVE. Capital World Investors lifted its position 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 acquiring an additional 26,127,617 shares during the last quarter. Capital International Investors lifted its position in Cenovus Energy by 0.7% during the 4th quarter. Capital International Investors now owns 53,572,829 shares of the oil and gas company's stock worth $811,769,000 after acquiring an additional 382,519 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Cenovus Energy by 48.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,001,002 shares of the oil and gas company's stock worth $196,935,000 after acquiring an additional 4,220,663 shares during the last quarter. Mackenzie Financial Corp lifted its position in Cenovus Energy by 1.0% during the 4th quarter. Mackenzie Financial Corp now owns 12,446,229 shares of the oil and gas company's stock worth $188,467,000 after acquiring an additional 117,568 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Cenovus Energy by 29.2% during the 4th quarter. Geode Capital Management LLC now owns 8,287,334 shares of the oil and gas company's stock worth $128,783,000 after acquiring an additional 1,873,415 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company's stock.

Cenovus Energy Trading Down 0.1%

NYSE CVE traded down $0.02 during mid-day trading on Monday, reaching $14.06. 9,102,665 shares of the stock were exchanged, compared to its average volume of 9,972,387. Cenovus Energy Inc has a one year low of $10.23 and a one year high of $20.40. The stock has a 50 day simple moving average of $13.93 and a 200-day simple moving average of $13.72. The stock has a market cap of $25.43 billion, a P/E ratio of 13.14 and a beta of 0.93. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.46 and a quick ratio of 0.84.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.03. The firm had revenue of $11.15 billion for the quarter, compared to analysts' expectations of $12.39 billion. Cenovus Energy had a net margin of 5.22% and a return on equity of 9.56%. During the same period in the previous year, the company earned $0.62 earnings per share. On average, analysts anticipate that Cenovus Energy Inc will post 1.49 EPS 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 issued a $0.20 dividend. This is a positive change from Cenovus Energy's previous dividend of $0.11. The ex-dividend date was Friday, June 13th. This represents a dividend yield of 4.25%. Cenovus Energy's dividend payout ratio is presently 54.21%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley restated an "overweight" rating on shares of Cenovus Energy in a research report on Tuesday, April 15th. 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 restated a "sector perform" rating on shares of Cenovus Energy in a research report on Friday, April 25th. Veritas downgraded shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, The Goldman Sachs Group cut their target price on shares of Cenovus Energy from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $23.00.

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.