American Century Companies Inc. Boosts Stock Position in Cenovus Energy Inc. (NYSE:CVE)

American Century Companies Inc. increased its stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 8.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 566,324 shares of the oil and gas company’s stock after buying an additional 42,089 shares during the quarter. American Century Companies Inc.’s holdings in Cenovus Energy were worth $11,132,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. United Services Automobile Association grew its stake in Cenovus Energy by 1.6% during the second quarter. United Services Automobile Association now owns 427,405 shares of the oil and gas company’s stock valued at $8,401,000 after acquiring an additional 6,732 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Cenovus Energy by 32,791.8% during the 2nd quarter. Acadian Asset Management LLC now owns 4,440,391 shares of the oil and gas company’s stock valued at $87,246,000 after purchasing an additional 4,426,891 shares in the last quarter. Mraz Amerine & Associates Inc. increased its holdings in shares of Cenovus Energy by 25.3% in the second quarter. Mraz Amerine & Associates Inc. now owns 54,511 shares of the oil and gas company’s stock worth $1,072,000 after purchasing an additional 10,996 shares during the period. NewGen Asset Management Ltd raised its position in shares of Cenovus Energy by 1.6% in the second quarter. NewGen Asset Management Ltd now owns 320,000 shares of the oil and gas company’s stock worth $6,291,000 after buying an additional 5,000 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in Cenovus Energy during the second quarter valued at $13,762,000. 51.19% of the stock is currently owned by institutional investors.

Cenovus Energy Trading Down 0.6 %

Shares of CVE stock opened at $17.11 on Monday. The business has a 50-day moving average price of $18.53 and a two-hundred day moving average price of $19.44. Cenovus Energy Inc. has a 12-month low of $14.69 and a 12-month high of $21.90. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 0.25. The firm has a market cap of $31.81 billion, a P/E ratio of 9.51 and a beta of 2.05.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its earnings results on Thursday, August 1st. The oil and gas company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.13). The firm had revenue of $10.88 billion during the quarter, compared to the consensus estimate of $9.78 billion. Cenovus Energy had a return on equity of 16.61% and a net margin of 8.56%. Equities analysts anticipate that Cenovus Energy Inc. will post 1.85 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.132 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.09%. Cenovus Energy’s payout ratio is 29.44%.

Wall Street Analyst Weigh In

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

Cenovus Energy Company 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.