Mackenzie Financial Corp Buys 117,568 Shares of Cenovus Energy Inc. (NYSE:CVE)

Mackenzie Financial Corp lifted its stake in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,446,229 shares of the oil and gas company's stock after purchasing an additional 117,568 shares during the quarter. Mackenzie Financial Corp owned about 0.68% of Cenovus Energy worth $188,467,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CVE. Arkadios Wealth Advisors raised its position in shares of Cenovus Energy by 10.4% during the 4th quarter. Arkadios Wealth Advisors now owns 17,908 shares of the oil and gas company's stock worth $271,000 after purchasing an additional 1,684 shares during the period. Janney Montgomery Scott LLC bought a new position in Cenovus Energy in the 4th quarter worth approximately $682,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in Cenovus Energy by 30.3% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 344,000 shares of the oil and gas company's stock worth $5,212,000 after buying an additional 80,000 shares in the last quarter. Blue Trust Inc. grew its holdings in Cenovus Energy by 122.2% in the 4th quarter. Blue Trust Inc. now owns 6,809 shares of the oil and gas company's stock worth $114,000 after buying an additional 3,744 shares in the last quarter. Finally, Mediolanum International Funds Ltd grew its holdings in Cenovus Energy by 43.1% in the 4th quarter. Mediolanum International Funds Ltd now owns 120,257 shares of the oil and gas company's stock worth $1,776,000 after buying an additional 36,233 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CVE. Scotiabank raised Cenovus Energy to a "strong-buy" rating in a research note on Wednesday, March 19th. Morgan Stanley reaffirmed an "overweight" rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. Veritas lowered Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. The Goldman Sachs Group decreased their price target on Cenovus Energy from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Cenovus Energy in a research note on Friday, April 25th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $25.75.

Cenovus Energy Stock Down 0.4%

NYSE:CVE traded down $0.06 on Tuesday, hitting $13.57. 11,238,616 shares of the company's stock traded hands, compared to its average volume of 9,163,982. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. Cenovus Energy Inc. has a 1 year low of $10.23 and a 1 year high of $21.08. The firm has a 50-day moving average price of $12.67 and a 200-day moving average price of $14.08. The company has a market cap of $24.73 billion, a PE ratio of 11.21 and a beta of 0.95.

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 for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. The company had revenue of $11.15 billion during the quarter, compared to the consensus estimate of $12.39 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. During the same period last year, the business earned $0.62 EPS. Equities analysts anticipate that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

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.