Massachusetts Financial Services Co. MA Acquires 521,046 Shares of Cenovus Energy Inc. (NYSE:CVE)

Massachusetts Financial Services Co. MA boosted its stake in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 16.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,702,594 shares of the oil and gas company's stock after acquiring an additional 521,046 shares during the period. Massachusetts Financial Services Co. MA owned 0.20% of Cenovus Energy worth $61,648,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CVE. Vanguard Group Inc. lifted its stake in shares of Cenovus Energy by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 49,480,149 shares of the oil and gas company's stock valued at $1,030,177,000 after purchasing an additional 690,057 shares during the period. Wellington Management Group LLP lifted its stake in Cenovus Energy by 0.8% in the third quarter. Wellington Management Group LLP now owns 47,327,214 shares of the oil and gas company's stock valued at $986,334,000 after buying an additional 388,652 shares during the period. Boston Partners boosted its holdings in shares of Cenovus Energy by 8.6% during the 3rd quarter. Boston Partners now owns 29,412,644 shares of the oil and gas company's stock worth $676,838,000 after buying an additional 2,325,082 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Cenovus Energy by 4.4% during the 4th quarter. Mackenzie Financial Corp now owns 11,053,328 shares of the oil and gas company's stock worth $184,278,000 after buying an additional 462,273 shares during the period. Finally, Ninepoint Partners LP increased its stake in shares of Cenovus Energy by 4.5% in the 4th quarter. Ninepoint Partners LP now owns 9,200,000 shares of the oil and gas company's stock valued at $153,180,000 after acquiring an additional 400,000 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors.

Cenovus Energy Stock Up 1.2 %

Shares of CVE traded up $0.23 on Friday, reaching $20.21. The company's stock had a trading volume of 6,070,563 shares, compared to its average volume of 10,653,875. Cenovus Energy Inc. has a twelve month low of $14.69 and a twelve month high of $21.90. The stock has a market capitalization of $37.53 billion, a PE ratio of 11.23 and a beta of 2.10. The company has a current ratio of 1.70, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average of $20.31 and a 200-day moving average of $18.08.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. The firm had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $9.73 billion. Cenovus Energy had a return on equity of 16.53% and a net margin of 8.73%. During the same period in the prior year, the business posted $0.29 earnings per share. Equities analysts predict that Cenovus Energy Inc. will post 1.94 EPS for the current year.

Cenovus Energy Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.0981 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date is Thursday, May 16th. Cenovus Energy's payout ratio is currently 22.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CVE shares. Royal Bank of Canada restated an "outperform" rating and issued a $28.00 price target on shares of Cenovus Energy in a report on Friday, January 26th. UBS Group raised Cenovus Energy from a "neutral" rating to a "buy" rating in a research note on Friday, February 23rd. Morgan Stanley raised their price objective on Cenovus Energy from $28.00 to $30.00 and gave the company an "overweight" rating in a research note on Thursday, March 28th. Finally, StockNews.com raised Cenovus Energy from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 3rd. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $26.67.

Cenovus Energy Company 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.