Cenovus Energy Inc. (NYSE:CVE) Shares Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 47.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 685,761 shares of the oil and gas company’s stock after buying an additional 220,761 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Cenovus Energy were worth $13,536,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital International Investors grew its holdings in Cenovus Energy by 216.3% during the first quarter. Capital International Investors now owns 33,927,436 shares of the oil and gas company’s stock worth $678,250,000 after acquiring an additional 23,202,018 shares during the period. TD Asset Management Inc increased its position in shares of Cenovus Energy by 26.5% in the fourth quarter. TD Asset Management Inc now owns 42,191,779 shares of the oil and gas company’s stock valued at $706,503,000 after buying an additional 8,841,374 shares in the last quarter. Boston Partners raised its stake in shares of Cenovus Energy by 29.0% during the 1st quarter. Boston Partners now owns 37,540,511 shares of the oil and gas company’s stock worth $750,435,000 after buying an additional 8,438,979 shares during the period. Capital World Investors lifted its position in shares of Cenovus Energy by 5.4% during the 4th quarter. Capital World Investors now owns 150,534,829 shares of the oil and gas company’s stock valued at $2,508,185,000 after buying an additional 7,750,480 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in shares of Cenovus Energy by 1,224.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 4,097,451 shares of the oil and gas company’s stock valued at $68,231,000 after buying an additional 3,787,979 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Raymond James upgraded shares of Cenovus Energy to a “moderate buy” rating in a research report on Tuesday, May 28th. Scotiabank reduced their price target on shares of Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, StockNews.com cut Cenovus Energy from a “strong-buy” rating to a “buy” rating in a report on Friday, July 26th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cenovus Energy has an average rating of “Buy” and a consensus price target of $30.67.

Cenovus Energy Price Performance

Shares of NYSE CVE traded down $0.97 during mid-day trading on Friday, reaching $17.88. The company’s stock had a trading volume of 9,074,774 shares, compared to its average volume of 6,738,270. The stock has a market capitalization of $33.20 billion, a P/E ratio of 9.93 and a beta of 2.07. Cenovus Energy Inc. has a 1-year low of $14.69 and a 1-year high of $21.90. The stock has a 50-day moving average of $19.56 and a two-hundred day moving average of $19.03. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.70.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.98 billion. Cenovus Energy had a net margin of 8.56% and a return on equity of 16.68%. On average, equities research analysts anticipate that Cenovus Energy Inc. will post 1.93 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.132 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.53 annualized dividend and a dividend yield of 2.95%. Cenovus Energy’s dividend payout ratio is presently 29.44%.

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.