Deutsche Bank AG Makes New Investment in Cenovus Energy Inc $CVE

Deutsche Bank AG acquired a new position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,685,060 shares of the oil and gas company’s stock, valued at approximately $91,426,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital Research Global Investors increased its stake in shares of Cenovus Energy by 16.6% in the fourth quarter. Capital Research Global Investors now owns 124,313,513 shares of the oil and gas company’s stock worth $2,103,090,000 after acquiring an additional 17,730,542 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Cenovus Energy by 440.8% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 15,414,179 shares of the oil and gas company’s stock worth $260,797,000 after purchasing an additional 12,564,179 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Cenovus Energy by 111.2% during the 1st quarter. Bank of America Corp DE now owns 22,770,723 shares of the oil and gas company’s stock worth $604,107,000 after purchasing an additional 11,990,405 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Cenovus Energy by 322.7% during the 2nd 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 buying an additional 11,849,355 shares during the last quarter. Finally, FIL Ltd grew its stake in shares of Cenovus Energy by 40.0% in the 4th quarter. FIL Ltd now owns 38,533,059 shares of the oil and gas company’s stock valued at $651,880,000 after buying an additional 11,019,212 shares in the last quarter. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Price Performance

Shares of Cenovus Energy stock opened at $32.58 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.04. The company has a market cap of $60.25 billion, a PE ratio of 12.53 and a beta of 0.34. The firm has a fifty day moving average price of $27.74 and a two-hundred day moving average price of $26.41. Cenovus Energy Inc has a fifty-two week low of $14.85 and a fifty-two week high of $33.40.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $1.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.11. The company had revenue of $14.59 billion for the quarter, compared to the consensus estimate of $11.87 billion. Cenovus Energy had a net margin of 12.37% and a return on equity of 21.08%. The business’s revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 EPS. Analysts expect that Cenovus Energy Inc will post 3.2 EPS for the current year.

Cenovus Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, September 15th. Cenovus Energy’s payout ratio is currently 24.62%.

Analyst Upgrades and Downgrades

CVE has been the topic of a number of research reports. Lake Street Capital set a $36.00 price objective on Cenovus Energy in a report on Wednesday, May 13th. Desjardins raised shares of Cenovus Energy to a “moderate buy” rating in a research report on Thursday, July 16th. The Goldman Sachs Group restated a “buy” rating on shares of Cenovus Energy in a research note on Wednesday, May 13th. Scotiabank restated an “outperform” rating on shares of Cenovus Energy in a report on Thursday, July 30th. Finally, Wall Street Zen raised shares of Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.25.

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.