First Hawaiian Bank Acquires 8,006 Shares of Cenovus Energy Inc. (NYSE:CVE)

First Hawaiian Bank grew its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 13.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,202 shares of the oil and gas company’s stock after buying an additional 8,006 shares during the quarter. First Hawaiian Bank’s holdings in Cenovus Energy were worth $1,363,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on CVE. Raymond James raised shares of Cenovus Energy to a “moderate buy” rating in a research note on Tuesday, May 28th. StockNews.com cut shares of Cenovus Energy from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 14th. Morgan Stanley lifted their price target on shares of Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, UBS Group raised shares of Cenovus Energy from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $29.00.

Cenovus Energy Stock Up 2.2 %

Cenovus Energy stock opened at $18.66 on Thursday. The firm has a market capitalization of $34.66 billion, a PE ratio of 10.37 and a beta of 2.06. The company’s 50-day moving average is $20.19 and its 200-day moving average is $18.33. Cenovus Energy Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $21.90. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.70 and a quick ratio of 1.01.

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

Cenovus Energy Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 6.31%. Cenovus Energy’s dividend payout ratio is presently 28.89%.

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.