Canada Pension Plan Investment Board raised its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 83.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,444,419 shares of the oil and gas company’s stock after buying an additional 657,764 shares during the period. Canada Pension Plan Investment Board’s holdings in Cenovus Energy were worth $10,633,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in CVE. Gateway Investment Advisers LLC raised its stake in shares of Cenovus Energy by 0.5% in the second quarter. Gateway Investment Advisers LLC now owns 75,312 shares of the oil and gas company’s stock worth $555,000 after buying an additional 376 shares during the period. World Asset Management Inc raised its stake in shares of Cenovus Energy by 1.4% in the first quarter. World Asset Management Inc now owns 51,918 shares of the oil and gas company’s stock worth $587,000 after buying an additional 695 shares during the period. Highstreet Asset Management Inc. raised its stake in shares of Cenovus Energy by 2.3% in the first quarter. Highstreet Asset Management Inc. now owns 35,282 shares of the oil and gas company’s stock worth $399,000 after buying an additional 782 shares during the period. Neuberger Berman Group LLC raised its stake in shares of Cenovus Energy by 7.4% in the first quarter. Neuberger Berman Group LLC now owns 12,992 shares of the oil and gas company’s stock worth $147,000 after buying an additional 900 shares during the period. Finally, Capstone Asset Management Co. raised its stake in shares of Cenovus Energy by 1.6% in the second quarter. Capstone Asset Management Co. now owns 87,709 shares of the oil and gas company’s stock worth $646,000 after buying an additional 1,350 shares during the period. Institutional investors and hedge funds own 55.77% of the company’s stock.

Cenovus Energy Inc (CVE) opened at 7.50 on Friday. The stock has a market capitalization of $9.22 billion, a P/E ratio of 3.20 and a beta of 0.57. Cenovus Energy Inc has a 12-month low of $6.76 and a 12-month high of $16.82. The firm’s 50-day moving average is $7.71 and its 200-day moving average is $10.01.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.24. Cenovus Energy had a return on equity of 3.20% and a net margin of 17.89%. The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period last year, the company earned ($0.05) earnings per share. Analysts predict that Cenovus Energy Inc will post $0.37 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.039 per share. The ex-dividend date is Thursday, September 14th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a dividend yield of 2.08%. Cenovus Energy’s dividend payout ratio (DPR) is presently 8.33%.

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A number of brokerages have commented on CVE. UBS AG lowered shares of Cenovus Energy from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 5th. Zacks Investment Research upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating and set a $8.25 price target for the company in a research note on Tuesday, July 25th. BidaskClub lowered shares of Cenovus Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $8.00 price target on shares of Cenovus Energy in a research note on Thursday, June 22nd. Finally, Raymond James Financial, Inc. lowered shares of Cenovus Energy from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 5th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $17.34.

About Cenovus Energy

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Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

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