Legal & General Group Plc boosted its stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 3.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,646,674 shares of the oil and gas company’s stock after buying an additional 159,075 shares during the period. Legal & General Group Plc owned approximately 0.38% of Cenovus Energy worth $32,827,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVE. Candriam Luxembourg S.C.A. boosted its position in shares of Cenovus Energy by 10.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 22,361 shares of the oil and gas company’s stock valued at $252,000 after buying an additional 2,200 shares during the period. Acadian Asset Management LLC boosted its position in shares of Cenovus Energy by 51.6% in the first quarter. Acadian Asset Management LLC now owns 13,800 shares of the oil and gas company’s stock valued at $156,000 after buying an additional 4,700 shares during the period. Wells Fargo & Company MN boosted its position in shares of Cenovus Energy by 16.1% in the first quarter. Wells Fargo & Company MN now owns 81,531 shares of the oil and gas company’s stock valued at $921,000 after buying an additional 11,313 shares during the period. APG Asset Management N.V. boosted its position in shares of Cenovus Energy by 4.4% in the first quarter. APG Asset Management N.V. now owns 2,279,482 shares of the oil and gas company’s stock valued at $25,724,000 after buying an additional 95,474 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Cenovus Energy by 17.8% in the first quarter. First Trust Advisors LP now owns 43,183 shares of the oil and gas company’s stock valued at $488,000 after buying an additional 6,521 shares during the period. 56.17% of the stock is owned by hedge funds and other institutional investors.

Shares of Cenovus Energy Inc (CVE) opened at 7.46 on Thursday. The firm has a 50-day moving average price of $7.72 and a 200 day moving average price of $9.80. Cenovus Energy Inc has a 1-year low of $6.76 and a 1-year high of $16.82. The company has a market cap of $9.17 billion, a price-to-earnings ratio of 3.18 and a beta of 0.57.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.24. The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Cenovus Energy had a net margin of 17.89% and a return on equity of 3.20%. During the same quarter last year, the company posted ($0.05) EPS. On average, analysts predict that Cenovus Energy Inc will post $0.35 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.039 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Thursday, September 14th. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s dividend payout ratio (DPR) is currently 8.33%.

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Several research analysts recently commented on CVE shares. Credit Suisse Group reissued an “outperform” rating on shares of Cenovus Energy in a research report on Friday, May 26th. ValuEngine cut Cenovus Energy from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. BidaskClub raised Cenovus Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Macquarie cut Cenovus Energy from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 21st. Finally, Canaccord Genuity raised Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $17.39.

About Cenovus Energy

Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

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