Cenovus Energy Inc. (NYSE:CVE) Stake Boosted by Mraz Amerine & Associates Inc.

Mraz Amerine & Associates Inc. increased its holdings in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 117.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,193 shares of the oil and gas company’s stock after buying an additional 18,985 shares during the quarter. Mraz Amerine & Associates Inc.’s holdings in Cenovus Energy were worth $586,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in 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 worth $1,030,177,000 after buying an additional 690,057 shares in the last quarter. Wellington Management Group LLP boosted its stake in Cenovus Energy by 0.8% during the 3rd 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 purchasing an additional 388,652 shares in the last quarter. Boston Partners boosted its stake in 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 valued at $676,838,000 after purchasing an additional 2,325,082 shares in the last quarter. Capital World Investors boosted its stake in Cenovus Energy by 30.0% during the 1st quarter. Capital World Investors now owns 28,481,746 shares of the oil and gas company’s stock valued at $474,791,000 after purchasing an additional 6,570,038 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in 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 valued at $184,278,000 after purchasing an additional 462,273 shares in the last quarter. 51.19% of the stock is owned by institutional investors.

Cenovus Energy Stock Up 0.4 %

Shares of CVE traded up $0.08 during mid-day trading on Wednesday, reaching $20.71. The company’s stock had a trading volume of 16,289,772 shares, compared to its average volume of 11,590,143. Cenovus Energy Inc. has a 1 year low of $14.69 and a 1 year high of $21.90. The company has a quick ratio of 0.91, a current ratio of 1.56 and a debt-to-equity ratio of 0.25. The company has a market cap of $38.63 billion, a price-to-earnings ratio of 13.11 and a beta of 2.15. The business has a fifty day moving average of $18.79 and a 200 day moving average of $17.99.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Cenovus Energy had a net margin of 7.88% and a return on equity of 14.85%. The business had revenue of $9.65 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same period in the prior year, the business posted $0.29 earnings per share. As a group, analysts forecast that Cenovus Energy Inc. will post 1.77 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.1033 dividend. The ex-dividend date was Thursday, March 14th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.10. This represents a $0.41 dividend on an annualized basis and a dividend yield of 2.00%. Cenovus Energy’s dividend payout ratio is 25.95%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CVE. Morgan Stanley increased their price target on Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $28.00 price objective on shares of Cenovus Energy in a research report on Friday, January 26th. UBS Group upgraded Cenovus Energy from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. Finally, StockNews.com upgraded Cenovus Energy from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $26.67.

Cenovus Energy 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.