Cenovus Energy Inc $CVE Shares Acquired by Korea Investment CORP

Korea Investment CORP grew its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,534,811 shares of the oil and gas company’s stock after purchasing an additional 17,043 shares during the quarter. Korea Investment CORP’s holdings in Cenovus Energy were worth $21,328,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CVE. Mackenzie Financial Corp raised its holdings in shares of Cenovus Energy by 56.5% in the 1st quarter. Mackenzie Financial Corp now owns 19,481,233 shares of the oil and gas company’s stock valued at $270,742,000 after purchasing an additional 7,035,004 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Cenovus Energy by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 54,483,601 shares of the oil and gas company’s stock valued at $757,213,000 after purchasing an additional 4,401,045 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Cenovus Energy by 33.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 17,363,386 shares of the oil and gas company’s stock valued at $241,513,000 after purchasing an additional 4,362,384 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Cenovus Energy by 91.7% in the 4th quarter. Toronto Dominion Bank now owns 7,233,491 shares of the oil and gas company’s stock valued at $109,515,000 after purchasing an additional 3,460,311 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Cenovus Energy by 40.2% during the 1st quarter. Invesco Ltd. now owns 11,281,543 shares of the oil and gas company’s stock worth $156,926,000 after acquiring an additional 3,237,659 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Trading Up 0.8%

NYSE CVE opened at $14.9850 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.78 and a current ratio of 1.32. The firm has a market cap of $26.95 billion, a PE ratio of 14.84 and a beta of 0.97. Cenovus Energy Inc has a one year low of $10.23 and a one year high of $19.64. The firm’s fifty day moving average is $14.51 and its two-hundred day moving average is $13.71.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, July 31st. The oil and gas company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.19. The company had revenue of $10.66 billion for the quarter, compared to analyst estimates of $10.64 billion. Cenovus Energy had a net margin of 5.18% and a return on equity of 9.06%. Cenovus Energy’s quarterly revenue was down 12.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 earnings per share. Analysts expect that Cenovus Energy Inc will post 1.49 earnings per share for the current year.

Cenovus Energy Increases Dividend

The firm also recently disclosed a dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a $0.20 dividend. This is a boost from Cenovus Energy’s previous dividend of $0.11. This represents a yield of 425.0%. The ex-dividend date was Friday, June 13th. Cenovus Energy’s dividend payout ratio (DPR) is presently 57.43%.

Analyst Ratings Changes

Several equities research analysts recently commented on CVE shares. Veritas lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 14th. Royal Bank Of Canada lifted their price target on shares of Cenovus Energy from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Wall Street Zen upgraded shares of Cenovus Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. The Goldman Sachs Group cut their price target on shares of Cenovus Energy from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Finally, National Bankshares reiterated a “sector perform” rating on shares of Cenovus Energy in a research note on Friday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Cenovus Energy has a consensus rating of “Moderate Buy” and a consensus target price of $23.33.

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.