Allianz Asset Management GmbH Increases Stock Holdings in Cenovus Energy Inc $CVE

Allianz Asset Management GmbH boosted its holdings in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 101.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 397,138 shares of the oil and gas company’s stock after purchasing an additional 200,355 shares during the quarter. Allianz Asset Management GmbH’s holdings in Cenovus Energy were worth $5,387,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mackenzie Financial Corp increased its holdings in Cenovus Energy by 56.5% during the 1st quarter. Mackenzie Financial Corp now owns 19,481,233 shares of the oil and gas company’s stock worth $270,742,000 after purchasing an additional 7,035,004 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Cenovus Energy by 185.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 48,103 shares of the oil and gas company’s stock worth $669,000 after purchasing an additional 31,265 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in Cenovus Energy by 68.2% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 655,133 shares of the oil and gas company’s stock worth $9,113,000 after purchasing an additional 265,638 shares during the last quarter. 111 Capital increased its holdings in Cenovus Energy by 75.6% during the 2nd quarter. 111 Capital now owns 74,541 shares of the oil and gas company’s stock worth $1,015,000 after purchasing an additional 32,092 shares during the last quarter. Finally, LPL Financial LLC increased its holdings in Cenovus Energy by 71.1% during the 1st quarter. LPL Financial LLC now owns 215,847 shares of the oil and gas company’s stock worth $3,002,000 after purchasing an additional 89,660 shares during the last quarter. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on CVE. Royal Bank Of Canada lifted their price objective on Cenovus Energy from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Jefferies Financial Group restated a “buy” rating on shares of Cenovus Energy in a report on Tuesday, September 2nd. UBS Group restated a “buy” rating on shares of Cenovus Energy in a report on Monday, August 25th. National Bank Financial upgraded Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 22nd. Finally, Zacks Research upgraded Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Four investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $23.33.

Cenovus Energy Price Performance

Shares of CVE opened at $16.79 on Thursday. Cenovus Energy Inc has a 12 month low of $10.23 and a 12 month high of $18.60. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 0.78. The stock has a fifty day moving average price of $16.78 and a 200 day moving average price of $14.63. The company has a market cap of $30.00 billion, a P/E ratio of 16.62 and a beta of 0.92.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Thursday, July 31st. The oil and gas company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.19. The business had revenue of $10.66 billion for the quarter, compared to analysts’ expectations of $10.64 billion. Cenovus Energy had a net margin of 5.18% and a return on equity of 9.06%. The company’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 EPS. On average, research analysts forecast that Cenovus Energy Inc will post 1.49 earnings per share for the current year.

Cenovus Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Monday, September 15th. Cenovus Energy’s payout ratio is 57.43%.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.