OMERS ADMINISTRATION Corp Increases Position in Cenovus Energy Inc $CVE

OMERS ADMINISTRATION Corp lifted its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 97.1% during the first quarter, Holdings Channel reports. The institutional investor owned 91,036 shares of the oil and gas company’s stock after buying an additional 44,844 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Cenovus Energy were worth $2,408,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CVE. Capital Research Global Investors increased its position in Cenovus Energy by 16.6% during the 4th quarter. Capital Research Global Investors now owns 124,313,513 shares of the oil and gas company’s stock valued at $2,103,090,000 after buying an additional 17,730,542 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Cenovus Energy by 12.8% during the fourth quarter. Vanguard Group Inc. now owns 63,525,477 shares of the oil and gas company’s stock worth $1,074,660,000 after buying an additional 7,197,843 shares during the period. Capital International Investors grew its holdings in shares of Cenovus Energy by 3.9% during the fourth quarter. Capital International Investors now owns 50,979,140 shares of the oil and gas company’s stock valued at $862,505,000 after buying an additional 1,903,432 shares during the last quarter. FIL Ltd grew its stake in Cenovus Energy by 40.0% during the 4th quarter. FIL Ltd now owns 38,533,059 shares of the oil and gas company’s stock valued at $651,880,000 after purchasing an additional 11,019,212 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Cenovus Energy by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 18,018,995 shares of the oil and gas company’s stock worth $304,894,000 after buying an additional 855,618 shares during the period. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Price Performance

Shares of NYSE CVE opened at $27.71 on Wednesday. The stock’s 50-day moving average is $27.31 and its two-hundred day moving average is $24.99. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.57 and a quick ratio of 1.00. Cenovus Energy Inc has a 1-year low of $14.48 and a 1-year high of $32.07. The company has a market cap of $51.56 billion, a price-to-earnings ratio of 15.22 and a beta of 0.34.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Wednesday, May 6th. The oil and gas company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.56 by $0.05. The firm had revenue of $10.79 billion for the quarter, compared to analyst estimates of $9.47 billion. Cenovus Energy had a return on equity of 15.29% and a net margin of 9.53%.Cenovus Energy’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 earnings per share. Analysts forecast that Cenovus Energy Inc will post 3.02 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 15th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 3.2%. Cenovus Energy’s payout ratio is presently 35.16%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Zacks Research downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. The Goldman Sachs Group reissued a “buy” rating on shares of Cenovus Energy in a report on Wednesday, May 13th. Royal Bank Of Canada upped their target price on Cenovus Energy from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 19th. Lake Street Capital set a $36.00 price target on shares of Cenovus Energy in a research note on Wednesday, May 13th. Finally, Weiss Ratings raised shares of Cenovus Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $35.25.

Cenovus Energy Company Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.