Cenovus Energy Inc $CVE Shares Bought by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG increased its holdings in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 430.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 144,921 shares of the oil and gas company’s stock after purchasing an additional 117,605 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Cenovus Energy were worth $3,831,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Capital Research Global Investors raised its position in Cenovus Energy by 16.6% in the 4th quarter. Capital Research Global Investors now owns 124,313,513 shares of the oil and gas company’s stock valued at $2,103,090,000 after purchasing an additional 17,730,542 shares in the last quarter. Vanguard Group Inc. increased its stake in Cenovus Energy by 12.8% in the fourth quarter. Vanguard Group Inc. now owns 63,525,477 shares of the oil and gas company’s stock valued at $1,074,660,000 after purchasing an additional 7,197,843 shares during the last quarter. Capital International Investors raised its holdings in Cenovus Energy by 3.9% during the fourth quarter. Capital International Investors now owns 50,979,140 shares of the oil and gas company’s stock worth $862,505,000 after purchasing an additional 1,903,432 shares in the last quarter. FIL Ltd boosted its holdings in shares of Cenovus Energy by 40.0% in the 4th quarter. FIL Ltd now owns 38,533,059 shares of the oil and gas company’s stock valued at $651,880,000 after buying an additional 11,019,212 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Cenovus Energy by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 18,018,995 shares of the oil and gas company’s stock valued at $304,894,000 after buying an additional 855,618 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Stock Performance

Shares of CVE stock opened at $27.61 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.57. The company has a 50-day simple moving average of $27.68 and a 200 day simple moving average of $24.10. Cenovus Energy Inc has a 52 week low of $13.90 and a 52 week high of $32.07. The company has a market capitalization of $51.37 billion, a price-to-earnings ratio of 15.17 and a beta of 0.34.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. The company had revenue of $10.79 billion for the quarter, compared to analysts’ expectations of $9.47 billion. Cenovus Energy had a return on equity of 15.29% and a net margin of 9.53%.Cenovus Energy’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $0.47 earnings per share. On average, sell-side analysts predict that Cenovus Energy Inc will post 3.02 earnings per share for the current year.

Cenovus Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $0.22 dividend. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 3.2%. The ex-dividend date was Monday, June 15th. Cenovus Energy’s dividend payout ratio (DPR) is 35.16%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CVE shares. Wall Street Zen upgraded shares of Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. UBS Group reissued a “buy” rating on shares of Cenovus Energy in a report on Thursday, April 9th. The Goldman Sachs Group restated a “buy” rating on shares of Cenovus Energy in a research note on Wednesday, May 13th. Scotiabank upgraded shares of Cenovus Energy to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Lake Street Capital set a $36.00 price target on Cenovus Energy in a report on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $35.25.

About Cenovus Energy

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.