Cenovus Energy Inc (CVE) Position Increased by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. increased its stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 2.3% during the first quarter, Holdings Channel reports. The institutional investor owned 2,208,908 shares of the oil and gas company’s stock after buying an additional 49,076 shares during the period. UBS Asset Management Americas Inc.’s holdings in Cenovus Energy were worth $24,927,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of CVE. Norges Bank bought a new stake in Cenovus Energy during the fourth quarter valued at approximately $120,443,000. Beutel Goodman & Co Ltd. boosted its stake in Cenovus Energy by 5.0% in the first quarter. Beutel Goodman & Co Ltd. now owns 45,403,489 shares of the oil and gas company’s stock valued at $512,963,000 after buying an additional 2,152,330 shares in the last quarter. Teachers Advisors LLC boosted its stake in Cenovus Energy by 77.6% in the fourth quarter. Teachers Advisors LLC now owns 4,117,655 shares of the oil and gas company’s stock valued at $62,300,000 after buying an additional 1,799,502 shares in the last quarter. Lincluden Management Ltd. boosted its stake in Cenovus Energy by 44.3% in the fourth quarter. Lincluden Management Ltd. now owns 3,222,430 shares of the oil and gas company’s stock valued at $48,668,000 after buying an additional 989,994 shares in the last quarter. Finally, Korea Investment CORP boosted its stake in Cenovus Energy by 258.9% in the first quarter. Korea Investment CORP now owns 890,170 shares of the oil and gas company’s stock valued at $10,045,000 after buying an additional 642,170 shares in the last quarter. 84.06% of the stock is owned by hedge funds and other institutional investors.
Cenovus Energy Inc (NYSE:CVE) opened at 7.91 on Friday. The stock’s market capitalization is $6.59 billion. The stock’s 50 day moving average price is $9.13 and its 200 day moving average price is $12.33. Cenovus Energy Inc has a 52-week low of $7.81 and a 52-week high of $16.82.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Wednesday, April 26th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.06. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $3.21 billion. Cenovus Energy had a negative net margin of 1.64% and a positive return on equity of 0.03%. During the same quarter last year, the firm posted ($0.51) earnings per share. On average, analysts forecast that Cenovus Energy Inc will post $0.26 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be issued a dividend of $0.0371 per share. The ex-dividend date is Tuesday, June 13th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.87%. Cenovus Energy’s payout ratio is -71.43%.
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CVE has been the subject of several recent analyst reports. TD Securities raised Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Friday, March 24th. Credit Suisse Group reissued an “outperform” rating on shares of Cenovus Energy in a research note on Friday, May 26th. Canaccord Genuity reissued a “hold” rating and set a $16.50 target price on shares of Cenovus Energy in a research note on Wednesday, April 26th. Zacks Investment Research cut Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Monday, May 1st. Finally, ValuEngine cut Cenovus Energy from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $19.35.
About Cenovus Energy
Cenovus Energy Inc is a Canada-based integrated oil company. The Company is engaged in the business of developing, producing and marketing crude oil, natural gas liquids (NGL) and natural gas. Its segments include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations. Its Oil Sands segment includes the development and production of bitumen and natural gas in northeast Alberta.
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