Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 8.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,989 shares of the oil and gas company’s stock after acquiring an additional 1,168 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Cenovus Energy were worth $130,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in CVE. Norges Bank bought a new position in shares of Cenovus Energy during the fourth quarter valued at approximately $58,839,000. Harris Associates L P raised its holdings in shares of Cenovus Energy by 10.0% during the fourth quarter. Harris Associates L P now owns 73,886,985 shares of the oil and gas company’s stock valued at $519,340,000 after acquiring an additional 6,694,276 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Cenovus Energy by 86.7% during the first quarter. Toronto Dominion Bank now owns 10,561,430 shares of the oil and gas company’s stock valued at $91,668,000 after acquiring an additional 4,906,038 shares in the last quarter. TD Asset Management Inc. raised its holdings in shares of Cenovus Energy by 5.5% during the first quarter. TD Asset Management Inc. now owns 41,466,654 shares of the oil and gas company’s stock valued at $360,058,000 after acquiring an additional 2,147,335 shares in the last quarter. Finally, Waratah Capital Advisors Ltd. bought a new position in shares of Cenovus Energy during the fourth quarter valued at approximately $14,645,000. Institutional investors own 76.09% of the company’s stock.
A number of research firms have issued reports on CVE. ValuEngine downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. Goldman Sachs Group upgraded Cenovus Energy from a “sell” rating to a “neutral” rating and set a $11.00 price objective for the company in a report on Tuesday, April 16th. Finally, GMP Securities reiterated a “buy” rating and issued a $17.50 price objective on shares of Cenovus Energy in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Cenovus Energy presently has an average rating of “Hold” and an average price target of $13.41.
CVE opened at $8.26 on Thursday. The company has a quick ratio of 0.65, a current ratio of 1.10 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $10.33 billion, a price-to-earnings ratio of -4.75, a PEG ratio of 2.38 and a beta of 0.95. Cenovus Energy Inc has a 12-month low of $6.15 and a 12-month high of $11.29.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.08). The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.75 billion. Cenovus Energy had a negative return on equity of 11.69% and a negative net margin of 8.68%. During the same quarter last year, the company posted ($0.74) EPS. On average, equities analysts predict that Cenovus Energy Inc will post 0.59 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.0373 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.81%. Cenovus Energy’s dividend payout ratio is currently -8.62%.
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Cenovus Energy Company Profile
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.
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