Envestnet Asset Management Inc. grew its position in shares of Cenovus Energy Inc. (NYSE:CVE – Get Rating) (TSE:CVE) by 14.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 285,792 shares of the oil and gas company’s stock after buying an additional 35,178 shares during the period. Envestnet Asset Management Inc.’s holdings in Cenovus Energy were worth $4,393,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the company. Swiss National Bank lifted its holdings in shares of Cenovus Energy by 7.3% in the 2nd quarter. Swiss National Bank now owns 6,251,635 shares of the oil and gas company’s stock worth $118,726,000 after purchasing an additional 425,800 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Cenovus Energy by 60.2% in the 2nd quarter. Van ECK Associates Corp now owns 25,148 shares of the oil and gas company’s stock worth $478,000 after purchasing an additional 9,455 shares during the last quarter. Eqis Capital Management Inc. lifted its holdings in shares of Cenovus Energy by 2.2% in the 3rd quarter. Eqis Capital Management Inc. now owns 62,088 shares of the oil and gas company’s stock worth $954,000 after purchasing an additional 1,316 shares during the last quarter. Wipfli Financial Advisors LLC bought a new stake in shares of Cenovus Energy in the 3rd quarter worth approximately $260,000. Finally, Creative Planning lifted its holdings in shares of Cenovus Energy by 17.8% in the 3rd quarter. Creative Planning now owns 193,707 shares of the oil and gas company’s stock worth $2,977,000 after purchasing an additional 29,207 shares during the last quarter. Institutional investors own 49.27% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently issued reports on CVE. National Bank Financial raised their price target on Cenovus Energy from C$36.00 to C$39.00 in a report on Wednesday, January 11th. Raymond James lifted their target price on Cenovus Energy from C$32.00 to C$33.00 in a research note on Wednesday, December 7th. Scotiabank cut their target price on Cenovus Energy from C$33.00 to C$31.00 in a research note on Tuesday, January 17th. StockNews.com downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Friday, February 17th. Finally, CIBC cut their target price on Cenovus Energy from C$32.00 to C$31.00 in a research note on Tuesday, January 17th.
Cenovus Energy Stock Up 1.5 %
Cenovus Energy Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be given a dividend of $0.079 per share. The ex-dividend date is Tuesday, March 14th. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.08. This represents a $0.32 annualized dividend and a dividend yield of 1.63%. Cenovus Energy’s dividend payout ratio (DPR) is 12.60%.
Cenovus Energy Profile
Cenovus Energy, Inc engages in provision of gas and oil. Its activities include development, production, and marketing of crude oil, natural gas liquids (NGLS), and natural gas in Canada. The firm operates through four segments: Oil Sands, Conventional, Refining & Marketing, and Corporate & Eliminations.
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