Tweedy Browne Co LLC Increases Position in Cenovus Energy Inc $CVE

Tweedy Browne Co LLC raised its holdings in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 112.0% in the third quarter, Holdings Channel reports. The fund owned 46,942 shares of the oil and gas company’s stock after buying an additional 24,798 shares during the period. Tweedy Browne Co LLC’s holdings in Cenovus Energy were worth $797,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp increased its holdings in shares of Cenovus Energy by 574.8% in the first quarter. Jones Financial Companies Lllp now owns 21,607 shares of the oil and gas company’s stock valued at $301,000 after purchasing an additional 18,405 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Cenovus Energy by 6.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 747,472 shares of the oil and gas company’s stock worth $10,397,000 after buying an additional 44,125 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Cenovus Energy by 2.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,217,726 shares of the oil and gas company’s stock valued at $16,561,000 after buying an additional 33,446 shares in the last quarter. Allworth Financial LP grew its holdings in Cenovus Energy by 104.3% in the 2nd quarter. Allworth Financial LP now owns 2,288 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 1,168 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Cenovus Energy by 18.7% in the 2nd 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 last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.

Cenovus Energy Price Performance

Shares of CVE opened at $23.56 on Wednesday. The firm has a 50-day simple moving average of $20.68 and a two-hundred day simple moving average of $18.46. The stock has a market cap of $44.28 billion, a PE ratio of 15.40 and a beta of 0.43. Cenovus Energy Inc has a 1-year low of $10.23 and a 1-year high of $24.06. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.04.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.28 by $0.08. Cenovus Energy had a net margin of 7.92% and a return on equity of 13.25%. The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $10.89 billion. During the same period in the prior year, the business posted $0.07 EPS. As a group, analysts forecast that Cenovus Energy Inc will post 1.49 EPS for the current year.

Cenovus Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Friday, March 13th. Cenovus Energy’s dividend payout ratio is 37.91%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CVE shares. Royal Bank Of Canada lifted their price target on Cenovus Energy from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Scotiabank raised shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. Zacks Research lowered shares of Cenovus Energy from a “hold” rating to a “strong sell” rating in a report on Friday, February 20th. TD Securities restated a “buy” rating on shares of Cenovus Energy in a report on Friday, February 20th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Cenovus Energy in a research report on Tuesday, January 20th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.67.

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.