Capital International Sarl Sells 23,542 Shares of Cenovus Energy Inc $CVE

Capital International Sarl decreased its stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 1.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,395,055 shares of the oil and gas company’s stock after selling 23,542 shares during the quarter. Capital International Sarl’s holdings in Cenovus Energy were worth $23,628,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CVE. Capital Research Global Investors increased its holdings in shares of Cenovus Energy by 291.3% during the 3rd quarter. Capital Research Global Investors now owns 106,582,971 shares of the oil and gas company’s stock worth $1,809,758,000 after purchasing an additional 79,345,506 shares during the period. Canada Pension Plan Investment Board increased its stake in Cenovus Energy by 322.7% in the second quarter. Canada Pension Plan Investment Board now owns 15,521,050 shares of the oil and gas company’s stock valued at $211,338,000 after acquiring an additional 11,849,355 shares during the period. Mackenzie Financial Corp increased its stake in Cenovus Energy by 46.7% in the third quarter. Mackenzie Financial Corp now owns 30,643,806 shares of the oil and gas company’s stock valued at $520,196,000 after acquiring an additional 9,753,134 shares during the period. Vanguard Group Inc. increased its stake in Cenovus Energy by 12.8% in the fourth quarter. Vanguard Group Inc. now owns 63,525,477 shares of the oil and gas company’s stock valued at $1,074,660,000 after acquiring an additional 7,197,843 shares during the period. Finally, Canoe Financial LP bought a new stake in Cenovus Energy in the fourth quarter valued at about $102,662,000. Institutional investors own 51.19% of the company’s stock.

Analyst Upgrades and Downgrades

CVE has been the topic of a number of analyst reports. UBS Group reissued a “buy” rating on shares of Cenovus Energy in a research note on Thursday, April 9th. TD Securities reissued a “buy” rating on shares of Cenovus Energy in a research note on Friday, February 20th. Veritas raised shares of Cenovus Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. Scotiabank reissued an “outperform” rating on shares of Cenovus Energy in a research note on Thursday, May 7th. Finally, Zacks Research raised shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Cenovus Energy has an average rating of “Buy” and a consensus price target of $35.25.

Cenovus Energy Price Performance

NYSE:CVE opened at $28.25 on Friday. Cenovus Energy Inc has a 12 month low of $13.29 and a 12 month high of $32.07. The company’s 50-day moving average price is $27.87 and its two-hundred day moving average price is $22.54. The firm has a market cap of $52.82 billion, a PE ratio of 15.52 and a beta of 0.34. The company has a quick ratio of 1.00, a current ratio of 1.57 and a debt-to-equity ratio of 0.33.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Wednesday, May 6th. The oil and gas company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. Cenovus Energy had a net margin of 9.53% and a return on equity of 15.29%. The company had revenue of $10.79 billion for the quarter, compared to analyst estimates of $9.47 billion. During the same period in the prior year, the business earned $0.47 earnings per share. Cenovus Energy’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities analysts anticipate that Cenovus Energy Inc will post 3.15 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, June 15th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.1%. Cenovus Energy’s dividend payout ratio (DPR) is currently 32.42%.

About Cenovus Energy

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin?off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.