Massachusetts Financial Services Co. MA Purchases 3,945,324 Shares of Cenovus Energy Inc $CVE

Massachusetts Financial Services Co. MA increased its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 37.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,428,074 shares of the oil and gas company’s stock after purchasing an additional 3,945,324 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.81% of Cenovus Energy worth $245,133,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its position in shares of Cenovus Energy by 574.8% during the first quarter. Jones Financial Companies Lllp now owns 21,607 shares of the oil and gas company’s stock valued at $301,000 after buying an additional 18,405 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Cenovus Energy by 6.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 747,472 shares of the oil and gas company’s stock worth $10,397,000 after purchasing an additional 44,125 shares during the period. Parallel Advisors LLC lifted its position in shares of Cenovus Energy by 655.4% during the second quarter. Parallel Advisors LLC now owns 16,272 shares of the oil and gas company’s stock worth $221,000 after purchasing an additional 14,118 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in shares of Cenovus Energy by 14.8% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 752,241 shares of the oil and gas company’s stock worth $10,230,000 after purchasing an additional 97,108 shares during the last quarter. Finally, Foundation Resource Management Inc. increased its stake in Cenovus Energy by 3.6% in the 2nd quarter. Foundation Resource Management Inc. now owns 467,702 shares of the oil and gas company’s stock worth $6,361,000 after buying an additional 16,087 shares during the period. 51.19% of the stock is owned by hedge funds and other institutional investors.

Cenovus Energy Stock Down 0.4%

Shares of NYSE CVE opened at $18.02 on Tuesday. Cenovus Energy Inc has a 12-month low of $10.23 and a 12-month high of $18.75. The stock’s fifty day simple moving average is $17.45 and its two-hundred day simple moving average is $16.59. The stock has a market capitalization of $33.94 billion, a PE ratio of 14.77 and a beta of 0.49. The company has a current ratio of 1.73, a quick ratio of 1.18 and a debt-to-equity ratio of 0.25.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Friday, October 31st. The oil and gas company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.40 by $0.12. The firm had revenue of $10.87 billion during the quarter, compared to analyst estimates of $12.51 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 6.23%.The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. As a group, analysts expect that Cenovus Energy Inc will post 1.49 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, December 15th. Cenovus Energy’s dividend payout ratio is presently 46.72%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CVE shares. TD Securities reissued a “buy” rating on shares of Cenovus Energy in a research report on Wednesday, December 3rd. Royal Bank Of Canada increased their price objective on Cenovus Energy from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Raymond James Financial raised Cenovus Energy from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Wall Street Zen raised Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cenovus Energy in a research note on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cenovus Energy presently has a consensus rating of “Buy” and a consensus target price of $27.00.

Cenovus Energy Company Profile

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.