Massachusetts Financial Services Co. MA Buys 107,367 Shares of Cenovus Energy Inc. (NYSE:CVE)

Massachusetts Financial Services Co. MA lifted its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 2.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,028,376 shares of the oil and gas company’s stock after purchasing an additional 107,367 shares during the period. Massachusetts Financial Services Co. MA owned 0.22% of Cenovus Energy worth $79,198,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Capital World Investors raised its stake in shares of Cenovus Energy by 5.4% during the 4th quarter. Capital World Investors now owns 150,534,829 shares of the oil and gas company’s stock worth $2,508,185,000 after purchasing an additional 7,750,480 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Cenovus Energy by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 48,563,284 shares of the oil and gas company’s stock worth $970,780,000 after purchasing an additional 1,008,341 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Cenovus Energy by 26.5% during the 4th quarter. TD Asset Management Inc now owns 42,191,779 shares of the oil and gas company’s stock worth $706,503,000 after purchasing an additional 8,841,374 shares in the last quarter. Boston Partners raised its stake in shares of Cenovus Energy by 29.0% during the 1st quarter. Boston Partners now owns 37,540,511 shares of the oil and gas company’s stock worth $750,435,000 after purchasing an additional 8,438,979 shares in the last quarter. Finally, Capital International Investors raised its stake in shares of Cenovus Energy by 216.3% during the 1st quarter. Capital International Investors now owns 33,927,436 shares of the oil and gas company’s stock worth $678,250,000 after purchasing an additional 23,202,018 shares in the last quarter. Institutional investors own 51.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CVE shares. Raymond James upgraded Cenovus Energy to a “moderate buy” rating in a research note on Tuesday, May 28th. Scotiabank dropped their price target on Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, StockNews.com cut Cenovus Energy from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 26th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $30.67.

Cenovus Energy Stock Performance

Shares of NYSE CVE opened at $16.63 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 1.00. The stock’s fifty day moving average price is $18.70 and its two-hundred day moving average price is $19.45. Cenovus Energy Inc. has a one year low of $14.69 and a one year high of $21.90. The firm has a market cap of $30.91 billion, a price-to-earnings ratio of 9.24 and a beta of 2.05.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.13). Cenovus Energy had a net margin of 8.56% and a return on equity of 16.61%. The firm had revenue of $10.88 billion during the quarter, compared to analyst estimates of $9.78 billion. On average, equities analysts forecast that Cenovus Energy Inc. will post 1.85 EPS for the current year.

Cenovus Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.132 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Friday, September 13th. Cenovus Energy’s dividend payout ratio is 29.44%.

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.