Cenovus Energy Inc (CVE) Stake Increased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 5.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,600 shares of the oil and gas company’s stock after purchasing an additional 7,900 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Cenovus Energy were worth $1,327,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of CVE. FMR LLC raised its stake in Cenovus Energy by 23.7% in the 2nd quarter. FMR LLC now owns 54,026,588 shares of the oil and gas company’s stock worth $398,284,000 after acquiring an additional 10,341,993 shares during the last quarter. Burgundy Asset Management Ltd. raised its stake in Cenovus Energy by 49.0% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 25,289,102 shares of the oil and gas company’s stock worth $186,301,000 after acquiring an additional 8,322,165 shares during the last quarter. Letko Brosseau & Associates Inc. raised its stake in Cenovus Energy by 37.1% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 27,158,632 shares of the oil and gas company’s stock worth $199,920,000 after acquiring an additional 7,354,590 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Cenovus Energy by 127.2% in the 3rd quarter. Great West Life Assurance Co. Can now owns 8,766,311 shares of the oil and gas company’s stock worth $87,746,000 after acquiring an additional 4,907,358 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in Cenovus Energy by 46.3% in the 3rd quarter. CIBC Asset Management Inc now owns 11,318,166 shares of the oil and gas company’s stock worth $113,177,000 after acquiring an additional 3,583,671 shares during the last quarter. 56.84% of the stock is owned by hedge funds and other institutional investors.

CVE has been the subject of a number of research analyst reports. Canaccord Genuity restated a “buy” rating and issued a $14.00 target price on shares of Cenovus Energy in a research note on Tuesday, September 5th. Morgan Stanley set a $15.00 target price on Cenovus Energy and gave the stock a “buy” rating in a research note on Friday, October 13th. Royal Bank of Canada restated a “buy” rating and issued a $15.00 target price on shares of Cenovus Energy in a research note on Monday, October 16th. Zacks Investment Research upgraded Cenovus Energy from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Thursday, October 19th. Finally, AltaCorp Capital lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Thursday, November 9th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $14.42.

Cenovus Energy Inc (NYSE CVE) opened at $8.44 on Friday. The firm has a market capitalization of $10,370.99, a PE ratio of 12.06, a price-to-earnings-growth ratio of 2.49 and a beta of 0.61. Cenovus Energy Inc has a 52 week low of $6.76 and a 52 week high of $15.98. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.10 and a current ratio of 1.41.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.039 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.85%. Cenovus Energy’s payout ratio is currently 8.08%.

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Cenovus Energy Company Profile

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

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