Cenovus Energy Inc. (NYSE:CVE) Holdings Raised by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,226,155 shares of the oil and gas company’s stock after acquiring an additional 245,302 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Cenovus Energy were worth $79,176,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its holdings in Cenovus Energy by 105.0% in the fourth quarter. Franklin Resources Inc. now owns 4,337,551 shares of the oil and gas company’s stock worth $65,667,000 after acquiring an additional 2,221,549 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cenovus Energy by 29.2% in the 4th quarter. Geode Capital Management LLC now owns 8,287,334 shares of the oil and gas company’s stock worth $128,783,000 after purchasing an additional 1,873,415 shares during the last quarter. Anson Funds Management LP boosted its position in Cenovus Energy by 188.2% during the 3rd quarter. Anson Funds Management LP now owns 1,877,800 shares of the oil and gas company’s stock valued at $31,405,000 after purchasing an additional 1,226,221 shares during the period. Panview Capital Ltd bought a new position in Cenovus Energy during the 4th quarter worth $16,741,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Cenovus Energy by 273.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,440,237 shares of the oil and gas company’s stock worth $21,821,000 after buying an additional 1,054,483 shares during the period. 51.19% of the stock is currently owned by institutional investors.

Cenovus Energy Stock Down 12.7 %

CVE opened at $11.25 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. The company has a market capitalization of $20.51 billion, a PE ratio of 9.30 and a beta of 1.46. The stock’s fifty day moving average is $14.09 and its 200-day moving average is $15.32. Cenovus Energy Inc. has a one year low of $11.11 and a one year high of $21.90.

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). Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $11.08 billion. On average, equities analysts predict that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.1269 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.51 annualized dividend and a dividend yield of 4.51%. Cenovus Energy’s dividend payout ratio is currently 40.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CVE shares. Scotiabank raised shares of Cenovus Energy to a “strong-buy” rating in a report on Wednesday, March 19th. Morgan Stanley restated an “overweight” rating on shares of Cenovus Energy in a research note on Wednesday, March 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 price objective on shares of Cenovus Energy in a research report on Wednesday. National Bank Financial cut Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, February 21st. Finally, StockNews.com downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

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.