Gateway Investment Advisers LLC Buys 65,921 Shares of Cenovus Energy Inc. (NYSE:CVE)

Gateway Investment Advisers LLC boosted its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 175.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,509 shares of the oil and gas company’s stock after acquiring an additional 65,921 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Cenovus Energy were worth $1,568,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Smead Capital Management Inc. raised its position in shares of Cenovus Energy by 39.3% during the third quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company’s stock worth $257,831,000 after purchasing an additional 4,351,960 shares during the period. 1832 Asset Management L.P. lifted its holdings in Cenovus Energy by 81.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 12,538,499 shares of the oil and gas company’s stock worth $246,507,000 after purchasing an additional 5,613,320 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Cenovus Energy by 5.3% in the 2nd quarter. Mackenzie Financial Corp now owns 11,186,227 shares of the oil and gas company’s stock valued at $219,897,000 after acquiring an additional 562,663 shares in the last quarter. Ninepoint Partners LP increased its position in shares of Cenovus Energy by 19.0% during the 2nd quarter. Ninepoint Partners LP now owns 7,500,000 shares of the oil and gas company’s stock valued at $147,450,000 after purchasing an additional 1,200,000 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Cenovus Energy by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 6,413,919 shares of the oil and gas company’s stock valued at $109,232,000 after purchasing an additional 568,732 shares during the last quarter. 51.19% of the stock is owned by institutional investors.

Cenovus Energy Stock Up 1.4 %

Shares of NYSE:CVE opened at $15.06 on Friday. Cenovus Energy Inc. has a 52-week low of $14.20 and a 52-week high of $21.90. The stock has a market cap of $27.48 billion, a P/E ratio of 10.38 and a beta of 2.01. The business’s 50 day moving average is $15.32 and its 200 day moving average is $17.11. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $10.25 billion. During the same quarter last year, the firm earned $0.72 EPS. The business’s quarterly revenue was down 17.9% on a year-over-year basis. Sell-side analysts predict that Cenovus Energy Inc. will post 1.45 EPS for the current year.

Cenovus Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a dividend of $0.133 per share. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a dividend yield of 3.53%. The ex-dividend date was Friday, December 13th. Cenovus Energy’s payout ratio is currently 34.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CVE shares. StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. TD Securities cut Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. BMO Capital Markets reduced their target price on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $28.00 target price on shares of Cenovus Energy in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.