Cenovus Energy Inc. (NYSE:CVE) Stake Boosted by Wahed Invest LLC

Wahed Invest LLC raised its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 12.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,546 shares of the oil and gas company’s stock after purchasing an additional 2,057 shares during the period. Wahed Invest LLC’s holdings in Cenovus Energy were worth $281,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Capital World Investors lifted its holdings in Cenovus Energy by 15.8% in the fourth quarter. Capital World Investors now owns 191,412,590 shares of the oil and gas company’s stock worth $2,901,131,000 after acquiring an additional 26,127,617 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Cenovus Energy by 48.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 13,001,002 shares of the oil and gas company’s stock worth $196,935,000 after purchasing an additional 4,220,663 shares during the last quarter. Franklin Resources Inc. boosted its position 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 purchasing an additional 2,221,549 shares during the period. Geode Capital Management LLC increased its position in Cenovus Energy by 29.2% in the fourth quarter. Geode Capital Management LLC now owns 8,287,334 shares of the oil and gas company’s stock worth $128,783,000 after buying an additional 1,873,415 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Cenovus Energy by 36.3% in the fourth quarter. Renaissance Technologies LLC now owns 4,378,894 shares of the oil and gas company’s stock valued at $66,340,000 after buying an additional 1,166,294 shares during the last quarter. 51.19% of the stock is owned by institutional investors and hedge funds.

Cenovus Energy Trading Up 0.5 %

Shares of Cenovus Energy stock opened at $12.03 on Friday. The business has a fifty day simple moving average of $12.67 and a 200-day simple moving average of $14.49. Cenovus Energy Inc. has a fifty-two week low of $10.23 and a fifty-two week high of $21.08. The firm has a market cap of $21.93 billion, a price-to-earnings ratio of 9.94 and a beta of 1.46. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.27). The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. On average, equities analysts forecast that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.1269 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.22%. Cenovus Energy’s dividend payout ratio (DPR) is presently 40.50%.

Wall Street Analysts Forecast Growth

CVE has been the topic of a number of analyst reports. National Bankshares reaffirmed a “sector perform” rating on shares of Cenovus Energy in a report on Friday, April 25th. Morgan Stanley reaffirmed an “overweight” rating on shares of Cenovus Energy in a report on Tuesday, April 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 price objective on shares of Cenovus Energy in a report on Friday, April 11th. National Bank Financial downgraded Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 21st. Finally, Scotiabank raised Cenovus Energy to a “strong-buy” rating in a research note on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.75.

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.