Cenovus Energy Inc. (NYSE:CVE) Stock Holdings Lifted by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. raised its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 8.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,648 shares of the oil and gas company’s stock after purchasing an additional 643 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Cenovus Energy were worth $170,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Planning increased its holdings in Cenovus Energy by 8.1% in the second quarter. Creative Planning now owns 292,758 shares of the oil and gas company’s stock worth $5,756,000 after buying an additional 21,991 shares during the last quarter. SkyView Investment Advisors LLC increased its stake in shares of Cenovus Energy by 13.2% during the 2nd quarter. SkyView Investment Advisors LLC now owns 41,510 shares of the oil and gas company’s stock worth $816,000 after purchasing an additional 4,830 shares during the last quarter. Ninepoint Partners LP raised its holdings in shares of Cenovus Energy by 19.0% during the 2nd quarter. Ninepoint Partners LP now owns 7,500,000 shares of the oil and gas company’s stock valued at $147,450,000 after purchasing an additional 1,200,000 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of Cenovus Energy by 5.3% in the 2nd quarter. Mackenzie Financial Corp now owns 11,186,227 shares of the oil and gas company’s stock valued at $219,897,000 after purchasing an additional 562,663 shares during the last quarter. Finally, AXA S.A. boosted its holdings in Cenovus Energy by 14.7% in the second quarter. AXA S.A. now owns 36,051 shares of the oil and gas company’s stock worth $709,000 after purchasing an additional 4,623 shares in the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CVE. BMO Capital Markets cut their target price on Cenovus Energy from $33.00 to $31.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. TD Securities lowered Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Scotiabank dropped their price target on shares of Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

Cenovus Energy Price Performance

Shares of NYSE:CVE opened at $17.85 on Friday. The company has a market cap of $33.19 billion, a price-to-earnings ratio of 9.92 and a beta of 2.04. The business has a 50 day moving average price of $17.83 and a 200 day moving average price of $19.31. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 0.25. Cenovus Energy Inc. has a twelve month low of $14.69 and a twelve month high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.13). Cenovus Energy had a net margin of 8.56% and a return on equity of 16.61%. The business had revenue of $10.88 billion during the quarter, compared to the consensus estimate of $9.78 billion. Research analysts predict that Cenovus Energy Inc. will post 1.84 earnings per share for the current year.

Cenovus Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.132 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.53 annualized dividend and a yield of 2.96%. Cenovus Energy’s dividend payout ratio is 29.44%.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.