Quantinno Capital Management LP Boosts Stock Position in Cenovus Energy Inc. (NYSE:CVE)

Quantinno Capital Management LP boosted its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 4.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 293,956 shares of the oil and gas company’s stock after acquiring an additional 11,252 shares during the period. Quantinno Capital Management LP’s holdings in Cenovus Energy were worth $4,453,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Capital World Investors raised its position in shares of Cenovus Energy by 15.8% during the 4th quarter. Capital World Investors now owns 191,412,590 shares of the oil and gas company’s stock valued at $2,901,131,000 after buying an additional 26,127,617 shares in the last quarter. Capital International Investors increased its stake in Cenovus Energy by 0.7% during the fourth quarter. Capital International Investors now owns 53,572,829 shares of the oil and gas company’s stock worth $811,769,000 after acquiring an additional 382,519 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Cenovus Energy by 48.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,001,002 shares of the oil and gas company’s stock valued at $196,935,000 after purchasing an additional 4,220,663 shares during the period. Geode Capital Management LLC lifted its stake 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 valued at $128,783,000 after purchasing an additional 1,873,415 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Cenovus Energy by 3.6% in the 4th quarter. Invesco Ltd. now owns 8,043,884 shares of the oil and gas company’s stock worth $121,865,000 after purchasing an additional 276,023 shares during the period. Institutional investors own 51.19% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price target on shares of Cenovus Energy in a report on Friday, April 11th. The Goldman Sachs Group reduced their target price 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. Morgan Stanley reaffirmed an “overweight” rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. Veritas downgraded shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 14th. Finally, Scotiabank raised shares of Cenovus Energy to a “strong-buy” rating in a research note on Wednesday, March 19th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $25.75.

Cenovus Energy Trading Up 0.5%

Shares of CVE opened at $13.72 on Monday. The firm has a market capitalization of $25.00 billion, a price-to-earnings ratio of 11.33 and a beta of 0.95. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95. Cenovus Energy Inc. has a 1-year low of $10.23 and a 1-year high of $21.08. The company has a 50-day moving average of $12.68 and a 200 day moving average of $14.20.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Thursday, May 8th. The oil and gas company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The business had revenue of $11.15 billion for the quarter, compared to analyst estimates of $12.39 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. During the same period last year, the company posted $0.62 earnings per share. On average, research analysts expect that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.1269 dividend. This represents a $0.51 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Friday, March 14th. Cenovus Energy’s dividend payout ratio is 51.40%.

Cenovus Energy Company 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.