Vontobel Holding Ltd. Buys 39,022 Shares of Cenovus Energy Inc $CVE

Vontobel Holding Ltd. increased its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 67.4% during the 3rd quarter, Holdings Channel reports. The firm owned 96,890 shares of the oil and gas company’s stock after acquiring an additional 39,022 shares during the quarter. Vontobel Holding Ltd.’s holdings in Cenovus Energy were worth $1,645,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CVE. Boston Partners lifted its holdings in shares of Cenovus Energy by 2.3% in the 2nd quarter. Boston Partners now owns 26,845,367 shares of the oil and gas company’s stock worth $365,097,000 after buying an additional 606,042 shares during the period. Mackenzie Financial Corp increased its stake in shares of Cenovus Energy by 7.2% during the second quarter. Mackenzie Financial Corp now owns 20,890,672 shares of the oil and gas company’s stock valued at $284,447,000 after buying an additional 1,409,439 shares during the period. Smead Capital Management Inc. raised its holdings in shares of Cenovus Energy by 13.3% in the second quarter. Smead Capital Management Inc. now owns 17,552,075 shares of the oil and gas company’s stock valued at $238,999,000 after acquiring an additional 2,056,163 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Cenovus Energy by 322.7% in the second quarter. Canada Pension Plan Investment Board now owns 15,521,050 shares of the oil and gas company’s stock valued at $211,338,000 after acquiring an additional 11,849,355 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Cenovus Energy by 18.7% in the second quarter. Geode Capital Management LLC now owns 10,892,266 shares of the oil and gas company’s stock worth $149,929,000 after acquiring an additional 1,712,975 shares during the period. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CVE shares. Weiss Ratings restated a “hold (c)” rating on shares of Cenovus Energy in a report on Thursday, October 30th. Royal Bank Of Canada lifted their price objective on shares of Cenovus Energy from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, November 17th. BMO Capital Markets set a $29.00 target price on Cenovus Energy in a report on Monday, November 17th. Morgan Stanley reiterated an “overweight” rating on shares of Cenovus Energy in a report on Thursday, November 20th. Finally, Wall Street Zen raised Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Four investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cenovus Energy presently has an average rating of “Buy” and a consensus price target of $25.67.

Cenovus Energy Trading Down 0.1%

NYSE:CVE opened at $16.72 on Friday. The stock has a market capitalization of $31.49 billion, a price-to-earnings ratio of 13.70 and a beta of 0.52. Cenovus Energy Inc has a 52 week low of $10.23 and a 52 week high of $18.75. The company has a quick ratio of 1.18, a current ratio of 1.73 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $17.42 and a 200 day moving average of $16.24.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Friday, October 31st. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.12. The business had revenue of $10.87 billion for the quarter, compared to analyst estimates of $12.51 billion. Cenovus Energy had a net margin of 6.23% and a return on equity of 10.73%. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 earnings per share. As a group, sell-side analysts anticipate that Cenovus Energy Inc will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Monday, December 15th. Cenovus Energy’s dividend payout ratio is currently 46.72%.

Cenovus Energy Company Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.