Bank of New York Mellon Corp Has $16.47 Million Stock Holdings in Cenovus Energy Inc (NYSE:CVE)

Bank of New York Mellon Corp raised its stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 1.8% during the 1st quarter, HoldingsChannel reports. The firm owned 1,184,280 shares of the oil and gas company’s stock after purchasing an additional 21,281 shares during the quarter. Bank of New York Mellon Corp’s holdings in Cenovus Energy were worth $16,473,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its stake in shares of Cenovus Energy by 0.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 241,113 shares of the oil and gas company’s stock worth $3,653,000 after acquiring an additional 762 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Cenovus Energy by 0.7% in the fourth quarter. Alliancebernstein L.P. now owns 106,532 shares of the oil and gas company’s stock worth $1,614,000 after acquiring an additional 779 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Cenovus Energy by 104.9% in the fourth quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 851 shares during the last quarter. Guggenheim Capital LLC grew its stake in shares of Cenovus Energy by 4.5% in the fourth quarter. Guggenheim Capital LLC now owns 20,974 shares of the oil and gas company’s stock worth $318,000 after acquiring an additional 908 shares during the last quarter. Finally, Wahed Invest LLC grew its stake in shares of Cenovus Energy by 12.5% in the fourth quarter. Wahed Invest LLC now owns 18,546 shares of the oil and gas company’s stock worth $281,000 after acquiring an additional 2,057 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CVE. National Bankshares restated a “sector perform” rating on shares of Cenovus Energy in a research note on Friday, April 25th. Royal Bank Of Canada restated an “outperform” rating and issued a $25.00 price objective on shares of Cenovus Energy in a research note on Friday, April 11th. Morgan Stanley restated an “overweight” rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. The Goldman Sachs Group reduced their target price on Cenovus Energy from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Finally, Veritas cut Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 14th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Cenovus Energy Stock Up 0.2%

Shares of NYSE CVE opened at $14.07 on Friday. Cenovus Energy Inc has a 52-week low of $10.23 and a 52-week high of $20.40. The stock has a market cap of $25.46 billion, a PE ratio of 13.15 and a beta of 0.93. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.84 and a current ratio of 1.46. The business has a fifty day moving average of $13.93 and a two-hundred day moving average of $13.74.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. Cenovus Energy had a return on equity of 9.56% and a net margin of 5.22%. The company had revenue of $11.15 billion during the quarter, compared to analyst estimates of $12.39 billion. During the same period last year, the company posted $0.62 earnings per share. As a group, equities research analysts expect that Cenovus Energy Inc will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently announced a dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, June 13th. This is a positive change from Cenovus Energy’s previous dividend of $0.11. This represents a dividend yield of 4.25%. Cenovus Energy’s dividend payout ratio (DPR) is 54.21%.

Cenovus Energy 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.