Massachusetts Financial Services Co. MA Increases Stock Position in Cenovus Energy Inc. (NYSE:CVE)

Massachusetts Financial Services Co. MA lifted its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 4.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,226,155 shares of the oil and gas company’s stock after buying an additional 245,302 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.29% of Cenovus Energy worth $79,176,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Cerity Partners LLC raised its holdings in shares of Cenovus Energy by 65.9% in the 3rd quarter. Cerity Partners LLC now owns 26,567 shares of the oil and gas company’s stock worth $444,000 after purchasing an additional 10,554 shares during the period. Centiva Capital LP lifted its position in Cenovus Energy by 61.4% during the third quarter. Centiva Capital LP now owns 55,453 shares of the oil and gas company’s stock valued at $928,000 after buying an additional 21,090 shares in the last quarter. Janus Henderson Group PLC grew its stake in Cenovus Energy by 374.8% during the third quarter. Janus Henderson Group PLC now owns 388,163 shares of the oil and gas company’s stock worth $6,499,000 after buying an additional 306,403 shares during the period. Quarry LP purchased a new stake in Cenovus Energy during the third quarter worth approximately $516,000. Finally, Quantinno Capital Management LP increased its position in shares of Cenovus Energy by 3.9% in the third quarter. Quantinno Capital Management LP now owns 282,704 shares of the oil and gas company’s stock worth $4,730,000 after acquiring an additional 10,494 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 topic of several recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $25.00 target price on shares of Cenovus Energy in a report on Wednesday. StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. National Bank Financial lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 21st. Morgan Stanley reissued an “overweight” rating on shares of Cenovus Energy in a research report on Wednesday, March 26th. Finally, Scotiabank raised shares of Cenovus Energy to a “strong-buy” rating in a research report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Cenovus Energy Trading Down 12.7 %

NYSE:CVE opened at $11.25 on Friday. The stock has a market cap of $20.51 billion, a price-to-earnings ratio of 9.30 and a beta of 1.46. Cenovus Energy Inc. has a one year low of $11.11 and a one year high of $21.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. The business’s 50-day simple moving average is $14.09 and its 200 day simple moving average is $15.32.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.27). The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. As a group, sell-side analysts predict that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.1269 dividend. This represents a $0.51 annualized dividend and a dividend yield of 4.51%. The ex-dividend date was Friday, March 14th. Cenovus Energy’s payout ratio is currently 40.50%.

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.