Envestnet Asset Management Inc. Has $12.39 Million Stake in Cenovus Energy Inc (NYSE:CVE)

Envestnet Asset Management Inc. increased its stake in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 26.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 890,655 shares of the oil and gas company's stock after purchasing an additional 188,982 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Cenovus Energy were worth $12,389,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital World Investors lifted its holdings in shares of Cenovus Energy by 15.8% in the 4th 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 during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of 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 last quarter. Toronto Dominion Bank lifted its holdings in shares of Cenovus Energy by 91.7% in the 4th quarter. Toronto Dominion Bank now owns 7,233,491 shares of the oil and gas company's stock valued at $109,515,000 after purchasing an additional 3,460,311 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Cenovus Energy by 105.0% in the 4th quarter. Franklin Resources Inc. now owns 4,337,551 shares of the oil and gas company's stock valued at $65,667,000 after purchasing an additional 2,221,549 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of 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 last quarter. 51.19% of the stock is owned by institutional investors and hedge funds.

Cenovus Energy Stock Up 2.3%

Cenovus Energy stock traded up $0.34 during midday trading on Wednesday, hitting $14.65. The stock had a trading volume of 11,801,971 shares, compared to its average volume of 10,018,538. The company has a current ratio of 1.46, a quick ratio of 0.84 and a debt-to-equity ratio of 0.25. The stock has a market cap of $26.45 billion, a P/E ratio of 13.69 and a beta of 0.93. Cenovus Energy Inc has a 12 month low of $10.23 and a 12 month high of $20.40. The business has a fifty day moving average price of $13.94 and a 200 day moving average price of $13.72.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its earnings results on Thursday, May 8th. The oil and gas company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.29 by $0.03. The company had revenue of $11.15 billion during the quarter, compared to analyst estimates of $12.39 billion. Cenovus Energy had a return on equity of 9.56% and a net margin of 5.22%. During the same period in the prior year, the company earned $0.62 earnings per share. Research analysts predict that Cenovus Energy Inc will post 1.49 EPS for the current year.

Cenovus Energy Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, June 13th. This is a positive change from Cenovus Energy's previous dividend of $0.11. This represents a dividend yield of 4.25%. Cenovus Energy's dividend payout ratio (DPR) is currently 54.21%.

Analysts Set New Price Targets

Several equities analysts have issued reports on CVE shares. Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a research report on Tuesday, April 15th. National Bankshares reiterated a "sector perform" rating on shares of Cenovus Energy in a research report on Friday, April 25th. Veritas cut Cenovus Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 14th. The Goldman Sachs Group lowered their price target on Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $25.00 price target on shares of Cenovus Energy in a report on Friday, April 11th. Five equities research 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $23.00.

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.