Cenovus Energy Inc $CVE Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 458.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,767,905 shares of the oil and gas company’s stock after acquiring an additional 3,914,067 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Cenovus Energy were worth $80,939,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CVE. Capital Research Global Investors raised its stake in shares of Cenovus Energy by 291.3% in the 3rd quarter. Capital Research Global Investors now owns 106,582,971 shares of the oil and gas company’s stock valued at $1,809,758,000 after acquiring an additional 79,345,506 shares during the period. Vanguard Group Inc. boosted its position in shares of Cenovus Energy by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 56,327,634 shares of the oil and gas company’s stock worth $956,387,000 after purchasing an additional 354,241 shares during the period. Mackenzie Financial Corp increased its holdings in Cenovus Energy by 46.7% in the 3rd quarter. Mackenzie Financial Corp now owns 30,643,806 shares of the oil and gas company’s stock valued at $520,196,000 after purchasing an additional 9,753,134 shares during the last quarter. Boston Partners raised its position in Cenovus Energy by 2.3% in the second quarter. Boston Partners now owns 26,845,367 shares of the oil and gas company’s stock valued at $365,097,000 after purchasing an additional 606,042 shares during the period. Finally, Smead Capital Management Inc. raised its position in Cenovus Energy by 13.3% in the second quarter. Smead Capital Management Inc. now owns 17,552,075 shares of the oil and gas company’s stock valued at $238,999,000 after purchasing an additional 2,056,163 shares during the period. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Stock Performance

Shares of CVE stock opened at $23.69 on Thursday. The firm has a 50 day moving average of $20.15 and a two-hundred day moving average of $18.26. The stock has a market capitalization of $44.53 billion, a PE ratio of 15.48 and a beta of 0.43. The company has a quick ratio of 1.04, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. Cenovus Energy Inc has a 52 week low of $10.23 and a 52 week high of $23.89.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.08. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $10.89 billion. Cenovus Energy had a return on equity of 13.25% and a net margin of 7.92%.During the same quarter in the prior year, the company earned $0.07 earnings per share. On average, research analysts predict that Cenovus Energy Inc will post 1.49 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, March 13th. Cenovus Energy’s payout ratio is presently 37.91%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Scotiabank upgraded Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cenovus Energy in a report on Tuesday, January 27th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Cenovus Energy in a research note on Tuesday, January 20th. Veritas upgraded Cenovus Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Cenovus Energy in a research report on Friday, February 20th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.33.

Cenovus Energy 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.