Mraz Amerine & Associates Inc. Raises Holdings in Cenovus Energy Inc (NYSE:CVE)

Mraz Amerine & Associates Inc. lifted its stake in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 43.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 266,093 shares of the oil and gas company's stock after buying an additional 80,785 shares during the quarter. Cenovus Energy comprises about 0.6% of Mraz Amerine & Associates Inc.'s holdings, making the stock its 24th biggest holding. Mraz Amerine & Associates Inc.'s holdings in Cenovus Energy were worth $3,667,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Toronto Dominion Bank raised its holdings in shares of Cenovus Energy by 91.7% in the fourth quarter. Toronto Dominion Bank now owns 7,233,491 shares of the oil and gas company's stock valued at $109,515,000 after buying an additional 3,460,311 shares during the last quarter. Polar Asset Management Partners Inc. increased its position in Cenovus Energy by 79.8% in the 4th quarter. Polar Asset Management Partners Inc. now owns 125,637 shares of the oil and gas company's stock valued at $1,903,000 after acquiring an additional 55,780 shares during the period. Franklin Resources Inc. raised its stake in Cenovus Energy by 105.0% during 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 acquiring an additional 2,221,549 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Cenovus Energy by 4.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,226,155 shares of the oil and gas company's stock valued at $79,176,000 after acquiring an additional 245,302 shares during the last quarter. Finally, Amundi lifted its position in Cenovus Energy by 1.7% during the 4th quarter. Amundi now owns 4,678,976 shares of the oil and gas company's stock worth $71,775,000 after acquiring an additional 77,548 shares during the period. Institutional investors and hedge funds own 51.19% of the company's stock.

Analysts Set New Price Targets

CVE has been the subject of several analyst reports. National Bankshares restated a "sector perform" rating on shares of Cenovus Energy in a research note on Friday, April 25th. Veritas downgraded shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Morgan Stanley reaffirmed an "overweight" rating on shares of Cenovus Energy in a report on Tuesday, April 15th. Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, The Goldman Sachs Group reduced their price objective on shares of Cenovus Energy from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Five 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $25.75.

Cenovus Energy Price Performance

CVE stock traded down $0.13 during trading on Wednesday, reaching $14.48. 9,366,114 shares of the company were exchanged, compared to its average volume of 9,888,232. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.84 and a current ratio of 1.46. The stock's 50 day moving average price is $13.58 and its 200 day moving average price is $13.76. Cenovus Energy Inc has a 52-week low of $10.23 and a 52-week high of $20.76. The company has a market cap of $26.20 billion, a P/E ratio of 13.53 and a beta of 0.93.

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

Cenovus Energy Increases Dividend

The company also recently announced a dividend, which was paid on Monday, June 30th. Shareholders 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 of this dividend was Friday, June 13th. This represents a yield of 4.25%. Cenovus Energy's dividend payout ratio 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.