Wolff Wiese Magana LLC Raises Stake in Cenovus Energy Inc. (NYSE:CVE)

Wolff Wiese Magana LLC grew its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 71.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,400 shares of the oil and gas company’s stock after purchasing an additional 1,000 shares during the quarter. Wolff Wiese Magana LLC’s holdings in Cenovus Energy were worth $48,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Capital World Investors raised its holdings in shares of Cenovus Energy by 5.4% in the fourth quarter. Capital World Investors now owns 150,534,829 shares of the oil and gas company’s stock valued at $2,508,185,000 after acquiring an additional 7,750,480 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Cenovus Energy by 1.4% in the third quarter. Vanguard Group Inc. now owns 49,480,149 shares of the oil and gas company’s stock valued at $1,030,177,000 after acquiring an additional 690,057 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Cenovus Energy by 0.8% in the third quarter. Wellington Management Group LLP now owns 47,327,214 shares of the oil and gas company’s stock valued at $986,334,000 after acquiring an additional 388,652 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Cenovus Energy by 26.5% in the fourth quarter. TD Asset Management Inc now owns 42,191,779 shares of the oil and gas company’s stock valued at $706,503,000 after acquiring an additional 8,841,374 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Cenovus Energy by 4.4% in the fourth quarter. Mackenzie Financial Corp now owns 11,053,328 shares of the oil and gas company’s stock valued at $184,278,000 after acquiring an additional 462,273 shares in the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVE has been the subject of several recent research reports. Raymond James upgraded Cenovus Energy to a “moderate buy” rating in a report on Tuesday, May 28th. Morgan Stanley boosted their target price on shares of Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, StockNews.com downgraded shares of Cenovus Energy from a “strong-buy” rating to a “buy” rating in a report on Thursday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cenovus Energy currently has an average rating of “Buy” and an average target price of $29.00.

Cenovus Energy Stock Up 0.3 %

Cenovus Energy stock traded up $0.06 during trading hours on Monday, reaching $19.72. The stock had a trading volume of 1,425,766 shares, compared to its average volume of 9,724,990. The company has a market cap of $36.67 billion, a price-to-earnings ratio of 10.92 and a beta of 2.07. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.70 and a quick ratio of 1.01. The business’s 50 day moving average price is $19.98 and its 200-day moving average price is $18.48. Cenovus Energy Inc. has a 52 week low of $14.69 and a 52 week high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. Cenovus Energy had a return on equity of 16.53% and a net margin of 8.73%. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.98 billion. Sell-side analysts anticipate that Cenovus Energy Inc. will post 2.04 EPS for the current year.

Cenovus Energy Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were paid a dividend of $0.0981 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 5.97%. Cenovus Energy’s payout ratio is 28.89%.

Cenovus Energy Profile

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.