Fulton Bank N.A. Raises Holdings in Cenovus Energy Inc. (NYSE:CVE)

Fulton Bank N.A. increased its position in shares of Cenovus Energy Inc. (NYSE:CVE – Get Rating) (TSE:CVE) by 21.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,562 shares of the oil and gas company’s stock after purchasing an additional 3,411 shares during the quarter. Fulton Bank N.A.’s holdings in Cenovus Energy were worth $379,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Cenovus Energy by 2.1% during the third quarter. Vanguard Group Inc. now owns 41,530,265 shares of the oil and gas company’s stock worth $638,320,000 after purchasing an additional 869,663 shares in the last quarter. GQG Partners LLC purchased a new stake in Cenovus Energy in the 2nd quarter valued at $609,445,000. Capital World Investors grew its holdings in Cenovus Energy by 30.0% in the 1st quarter. Capital World Investors now owns 28,481,746 shares of the oil and gas company’s stock valued at $474,791,000 after buying an additional 6,570,038 shares in the last quarter. Boston Partners grew its holdings in Cenovus Energy by 19.2% in the 3rd quarter. Boston Partners now owns 22,620,045 shares of the oil and gas company’s stock valued at $397,199,000 after buying an additional 3,640,145 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Cenovus Energy by 68.8% in the 1st quarter. Wellington Management Group LLP now owns 19,871,360 shares of the oil and gas company’s stock valued at $331,500,000 after buying an additional 8,098,474 shares in the last quarter. 49.27% of the stock is currently owned by hedge funds and other institutional investors.

Cenovus Energy Stock Performance

NYSE CVE opened at $15.53 on Friday. The stock has a market cap of $29.62 billion, a PE ratio of 6.31 and a beta of 2.21. The company has a current ratio of 1.55, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32. Cenovus Energy Inc. has a twelve month low of $14.44 and a twelve month high of $24.91. The stock has a fifty day simple moving average of $18.72 and a 200-day simple moving average of $18.75.

Cenovus Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be paid a dividend of $0.079 per share. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, March 14th. This represents a $0.32 annualized dividend and a yield of 2.03%. Cenovus Energy’s dividend payout ratio is presently 12.60%.

Wall Street Analysts Forecast Growth

CVE has been the subject of several analyst reports. The Goldman Sachs Group cut Cenovus Energy from a “buy” rating to a “neutral” rating and set a $23.00 target price for the company. in a report on Monday, November 21st. National Bank Financial upped their target price on Cenovus Energy from C$36.00 to C$39.00 in a report on Wednesday, January 11th. StockNews.com assumed coverage on Cenovus Energy in a report on Thursday. They issued a “hold” rating for the company. BMO Capital Markets lowered their price target on Cenovus Energy from C$33.00 to C$32.00 in a report on Friday, February 17th. Finally, Raymond James increased their price target on Cenovus Energy from C$32.00 to C$33.00 in a report on Wednesday, December 7th.

Cenovus Energy Profile

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Cenovus Energy, Inc is a Canadian-based integrated energy company, which engages in the provision of gas and oil. It operates through the following segments: Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Corporate and Eliminations. The Oil Sands segment is involved in the development and production of bitumen and heavy oil in northern Alberta and Saskatchewan.