Cenovus Energy Inc. (NYSE:CVE) Shares Acquired by MML Investors Services LLC

MML Investors Services LLC increased its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 17.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,768 shares of the oil and gas company’s stock after buying an additional 5,828 shares during the quarter. MML Investors Services LLC’s holdings in Cenovus Energy were worth $649,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new position in shares of Cenovus Energy during the third quarter worth about $25,000. Blue Trust Inc. increased its stake in shares of Cenovus Energy by 640.3% in the third quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 2,651 shares during the period. SevenBridge Financial Group LLC bought a new stake in shares of Cenovus Energy during the third quarter valued at approximately $162,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Cenovus Energy by 8.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company’s stock worth $170,000 after buying an additional 643 shares during the period. Finally, FCG Investment Co acquired a new position in shares of Cenovus Energy during the third quarter worth approximately $211,000. 51.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVE has been the topic of several analyst reports. StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. TD Securities lowered Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. Finally, BMO Capital Markets reduced their price objective on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.00.

Cenovus Energy Trading Up 0.5 %

Shares of CVE stock opened at $14.42 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The stock has a 50-day simple moving average of $15.93 and a 200 day simple moving average of $17.66. Cenovus Energy Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $21.90. The stock has a market capitalization of $26.32 billion, a P/E ratio of 9.94 and a beta of 2.02.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.08. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $10.25 billion. During the same quarter last year, the firm posted $0.72 EPS. The business’s revenue for the quarter was down 17.9% on a year-over-year basis. On average, sell-side analysts expect that Cenovus Energy Inc. will post 1.48 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.133 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.53 annualized dividend and a dividend yield of 3.69%. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.13. Cenovus Energy’s dividend payout ratio is currently 36.55%.

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.