Cenovus Energy Inc (CVE) Shares Bought by Axa
Axa increased its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 94.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,077 shares of the oil and gas company’s stock after buying an additional 40,306 shares during the period. Axa’s holdings in Cenovus Energy were worth $939,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. TD Asset Management Inc. raised its stake in shares of Cenovus Energy by 46.9% in the first quarter. TD Asset Management Inc. now owns 40,979,115 shares of the oil and gas company’s stock worth $462,442,000 after buying an additional 13,092,198 shares during the period. Norges Bank bought a new stake in shares of Cenovus Energy during the fourth quarter worth $120,443,000. First Eagle Investment Management LLC raised its stake in shares of Cenovus Energy by 25.6% in the first quarter. First Eagle Investment Management LLC now owns 31,675,743 shares of the oil and gas company’s stock worth $357,936,000 after buying an additional 6,448,369 shares during the period. Pzena Investment Management LLC raised its stake in shares of Cenovus Energy by 40.6% in the first quarter. Pzena Investment Management LLC now owns 19,032,719 shares of the oil and gas company’s stock worth $215,070,000 after buying an additional 5,494,952 shares during the period. Finally, Mawer Investment Management Ltd. raised its stake in shares of Cenovus Energy by 44.9% in the first quarter. Mawer Investment Management Ltd. now owns 10,149,361 shares of the oil and gas company’s stock worth $200,353,000 after buying an additional 3,143,931 shares during the period. 84.06% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cenovus Energy Inc (NYSE:CVE) traded up 0.13% on Friday, hitting $7.91. 3,692,982 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $9.13 and its 200 day moving average price is $12.33. The stock’s market cap is $6.59 billion. Cenovus Energy Inc has a 12-month low of $7.81 and a 12-month high of $16.82.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Wednesday, April 26th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by $0.06. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $3.21 billion. Cenovus Energy had a positive return on equity of 0.03% and a negative net margin of 1.64%. During the same quarter in the previous year, the firm posted ($0.51) EPS. On average, equities analysts predict that Cenovus Energy Inc will post $0.26 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be given a dividend of $0.0371 per share. This represents a $0.15 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Tuesday, June 13th. Cenovus Energy’s payout ratio is currently -71.43%.
A number of equities research analysts have recently weighed in on CVE shares. TD Securities raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a report on Friday, March 24th. Credit Suisse Group reissued an “outperform” rating on shares of Cenovus Energy in a report on Friday, May 26th. Canaccord Genuity reaffirmed a “hold” rating and issued a $16.50 price target on shares of Cenovus Energy in a report on Wednesday, April 26th. Zacks Investment Research lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Monday, May 1st. Finally, ValuEngine lowered shares of Cenovus Energy from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target 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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