Hexavest Inc. grew its stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 78.1% in the 4th quarter, HoldingsChannel reports. The fund owned 10,052,201 shares of the oil and gas company’s stock after acquiring an additional 4,406,617 shares during the period. Cenovus Energy comprises about 1.1% of Hexavest Inc.’s holdings, making the stock its 18th largest position. Hexavest Inc.’s holdings in Cenovus Energy were worth $92,102,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Nexus Investment Management Inc. increased its holdings in shares of Cenovus Energy by 131.7% during the fourth quarter. Nexus Investment Management Inc. now owns 1,210,050 shares of the oil and gas company’s stock valued at $11,098,000 after acquiring an additional 687,840 shares in the last quarter. Burgundy Asset Management Ltd. increased its holdings in Cenovus Energy by 27.6% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 32,270,841 shares of the oil and gas company’s stock worth $323,483,000 after buying an additional 6,981,739 shares in the last quarter. Visionary Asset Management Inc. bought a new stake in Cenovus Energy in the 3rd quarter worth about $202,000. Neuberger Berman Group LLC bought a new stake in Cenovus Energy in the 3rd quarter worth about $14,718,000. Finally, Krilogy Financial LLC bought a new stake in Cenovus Energy in the 3rd quarter worth about $139,000. Hedge funds and other institutional investors own 56.78% of the company’s stock.

Several equities research analysts recently commented on CVE shares. Canaccord Genuity reiterated a “buy” rating and issued a $15.50 price objective on shares of Cenovus Energy in a report on Monday, October 30th. Zacks Investment Research upgraded Cenovus Energy from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Thursday, October 19th. Royal Bank of Canada reiterated a “buy” rating and issued a $15.00 price objective on shares of Cenovus Energy in a report on Monday, October 16th. Morgan Stanley set a $15.00 price objective on Cenovus Energy and gave the stock a “buy” rating in a report on Friday, October 13th. Finally, Desjardins reiterated a “hold” rating on shares of Cenovus Energy in a report on Friday. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Cenovus Energy currently has an average rating of “Hold” and an average price target of $14.42.

Cenovus Energy Inc (NYSE CVE) traded up $0.48 during midday trading on Friday, reaching $10.94. The company had a trading volume of 4,489,800 shares, compared to its average volume of 4,284,325. The company has a market cap of $13,320.00, a P/E ratio of 4.78 and a beta of 0.62. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.41 and a quick ratio of 1.10. Cenovus Energy Inc has a 52 week low of $6.76 and a 52 week high of $15.21.

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were given a $0.039 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.16 annualized dividend and a yield of 1.43%. Cenovus Energy’s payout ratio is 6.99%.

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Cenovus Energy Company Profile

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

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