M&G PLC Boosts Holdings in Cenovus Energy Inc $CVE

M&G PLC lifted its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 21.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,431,210 shares of the oil and gas company’s stock after buying an additional 607,557 shares during the period. M&G PLC owned approximately 0.19% of Cenovus Energy worth $47,905,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its holdings in shares of Cenovus Energy by 56.5% during the 1st quarter. Mackenzie Financial Corp now owns 19,481,233 shares of the oil and gas company’s stock worth $270,742,000 after purchasing an additional 7,035,004 shares during the period. Vanguard Group Inc. boosted its position in shares of Cenovus Energy by 8.8% in the first quarter. Vanguard Group Inc. now owns 54,483,601 shares of the oil and gas company’s stock worth $757,213,000 after buying an additional 4,401,045 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Cenovus Energy by 33.6% during 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 buying an additional 4,362,384 shares during the period. Acadian Asset Management LLC lifted its position in Cenovus Energy by 2,719.3% during the 1st quarter. Acadian Asset Management LLC now owns 4,141,434 shares of the oil and gas company’s stock worth $57,533,000 after acquiring an additional 3,994,539 shares in the last quarter. Finally, Invesco Ltd. grew its position in Cenovus Energy by 40.2% in the first quarter. Invesco Ltd. now owns 11,281,543 shares of the oil and gas company’s stock valued at $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 Price Performance

Shares of NYSE CVE opened at $18.25 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 0.78. The firm has a market capitalization of $32.24 billion, a PE ratio of 18.07 and a beta of 0.86. Cenovus Energy Inc has a 1-year low of $10.23 and a 1-year high of $18.60. The business’s fifty day moving average price is $17.10 and its two-hundred day moving average price is $15.23.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.12. The business had revenue of $10.87 billion for the quarter, compared to analysts’ expectations of $12.51 billion. Cenovus Energy had a net margin of 5.18% and a return on equity of 9.06%. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS. On average, research analysts expect that Cenovus Energy Inc will post 1.49 EPS for the current year.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 15th. This represents a $0.80 annualized dividend and a dividend yield of 4.4%. Cenovus Energy’s payout ratio is currently 45.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. TD Securities reaffirmed a “buy” rating on shares of Cenovus Energy in a research note on Tuesday, September 30th. Zacks Research raised Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Jefferies Financial Group restated a “buy” rating on shares of Cenovus Energy in a research note on Tuesday, September 2nd. Wall Street Zen upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, UBS Group reissued a “buy” rating on shares of Cenovus Energy in a report on Monday, August 25th. Four equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Cenovus Energy presently has an average rating of “Buy” and a consensus target price of $21.00.

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.