DekaBank Deutsche Girozentrale Reduces Position in Cenovus Energy Inc. (NYSE:CVE)

DekaBank Deutsche Girozentrale reduced its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 16.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 465,000 shares of the oil and gas company’s stock after selling 91,995 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Cenovus Energy were worth $7,700,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVE. NBC Securities Inc. acquired a new stake in Cenovus Energy during the third quarter worth approximately $34,000. KB Financial Partners LLC acquired a new stake in Cenovus Energy during the 1st quarter worth $40,000. CWM LLC lifted its position in Cenovus Energy by 19.2% in the third quarter. CWM LLC now owns 3,336 shares of the oil and gas company’s stock valued at $69,000 after acquiring an additional 537 shares during the last quarter. Operose Advisors LLC acquired a new position in Cenovus Energy in the third quarter valued at $79,000. Finally, Macquarie Group Ltd. purchased a new position in shares of Cenovus Energy during the second quarter worth about $80,000. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Trading Up 1.1 %

Shares of CVE stock opened at $21.80 on Thursday. The company has a market capitalization of $40.69 billion, a P/E ratio of 13.80 and a beta of 2.15. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $18.30 and its two-hundred day moving average is $17.98. Cenovus Energy Inc. has a twelve month low of $14.69 and a twelve month high of $21.88.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $9.65 billion for the quarter, compared to analyst estimates of $9.73 billion. Cenovus Energy had a net margin of 7.88% and a return on equity of 14.85%. During the same period last year, the firm posted $0.29 EPS. Equities analysts forecast that Cenovus Energy Inc. will post 1.73 EPS for the current year.

Cenovus Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.1033 per share. This represents a $0.41 dividend on an annualized basis and a dividend yield of 1.90%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, March 14th. Cenovus Energy’s dividend payout ratio is 25.95%.

Wall Street Analysts Forecast Growth

CVE has been the subject of several research reports. Morgan Stanley boosted their target price on Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. UBS Group upgraded shares of Cenovus Energy from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $28.00 price target on shares of Cenovus Energy in a research report on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Cenovus Energy currently has an average rating of “Moderate Buy” and an average target price of $26.67.

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.