Massachusetts Financial Services Co. MA Grows Position in Cenovus Energy Inc (NYSE:CVE)

Massachusetts Financial Services Co. MA lifted its stake in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 53.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,030,017 shares of the oil and gas company's stock after purchasing an additional 2,803,862 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.44% of Cenovus Energy worth $111,698,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Cromwell Holdings LLC raised its position in Cenovus Energy by 1,165.1% in the first quarter. Cromwell Holdings LLC now owns 3,049 shares of the oil and gas company's stock worth $42,000 after acquiring an additional 2,808 shares in the last quarter. Cerity Partners LLC raised its position in Cenovus Energy by 377.7% in the first quarter. Cerity Partners LLC now owns 61,388 shares of the oil and gas company's stock worth $854,000 after acquiring an additional 48,537 shares in the last quarter. Mraz Amerine & Associates Inc. raised its position in Cenovus Energy by 43.6% in the first quarter. Mraz Amerine & Associates Inc. now owns 266,093 shares of the oil and gas company's stock worth $3,667,000 after acquiring an additional 80,785 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Cenovus Energy by 1.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 685,761 shares of the oil and gas company's stock valued at $9,387,000 after buying an additional 6,843 shares in the last quarter. Finally, Brown Advisory Inc. purchased a new position in shares of Cenovus Energy in the first quarter valued at $164,000. Hedge funds and other institutional investors own 51.19% of the company's stock.

Analyst Ratings Changes

CVE has been the subject of a number of research analyst reports. Morgan Stanley restated an "overweight" rating on shares of Cenovus Energy in a research report on Tuesday, April 15th. Royal Bank Of Canada restated an "outperform" rating and issued a $25.00 price target on shares of Cenovus Energy in a research report on Friday, April 11th. Veritas cut Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. National Bankshares restated a "sector perform" rating on shares of Cenovus Energy in a research report on Friday, April 25th. Finally, The Goldman Sachs Group decreased their price objective on Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $23.00.

Cenovus Energy Trading Up 0.2%

NYSE:CVE traded up $0.03 during mid-day trading on Friday, reaching $14.07. The company's stock had a trading volume of 10,698,040 shares, compared to its average volume of 9,974,930. The company's fifty day simple moving average is $13.93 and its two-hundred day simple moving average is $13.74. 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 Inc has a twelve month low of $10.23 and a twelve month high of $20.40. The stock has a market cap of $25.46 billion, a P/E ratio of 13.15 and a beta of 0.93.

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

Cenovus Energy Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a $0.20 dividend. This represents a dividend yield of 4.25%. This is an increase from Cenovus Energy's previous dividend of $0.11. The ex-dividend date of this dividend was Friday, June 13th. Cenovus Energy's dividend payout ratio (DPR) is 54.21%.

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.