Franklin Resources Inc. decreased its position in Cenovus Energy Inc. (NYSE:CVE – Get Rating) (TSE:CVE) by 21.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 329,084 shares of the oil and gas company’s stock after selling 90,881 shares during the quarter. Franklin Resources Inc.’s holdings in Cenovus Energy were worth $6,385,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Ensign Peak Advisors Inc grew its position in Cenovus Energy by 2.6% during the third quarter. Ensign Peak Advisors Inc now owns 63,534 shares of the oil and gas company’s stock worth $1,065,000 after buying an additional 1,600 shares in the last quarter. Trexquant Investment LP lifted its stake in shares of Cenovus Energy by 598.6% in the 3rd quarter. Trexquant Investment LP now owns 234,844 shares of the oil and gas company’s stock valued at $3,610,000 after acquiring an additional 201,227 shares during the last quarter. MQS Management LLC bought a new position in shares of Cenovus Energy in the 3rd quarter valued at $244,000. Cordatus Wealth Management LLC bought a new position in shares of Cenovus Energy in the 4th quarter valued at $537,000. Finally, SVB Wealth LLC lifted its stake in shares of Cenovus Energy by 26.6% in the 4th quarter. SVB Wealth LLC now owns 19,381 shares of the oil and gas company’s stock valued at $376,000 after acquiring an additional 4,074 shares during the last quarter. Institutional investors and hedge funds own 49.27% of the company’s stock.
Wall Street Analyst Weigh In
CVE has been the subject of a number of research reports. StockNews.com initiated coverage on Cenovus Energy in a research note on Thursday, May 18th. They issued a “hold” rating for the company. BMO Capital Markets dropped their price target on Cenovus Energy from C$33.00 to C$32.00 in a research note on Friday, February 17th. Finally, Scotiabank cut Cenovus Energy from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, April 14th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $32.00.
Cenovus Energy Stock Up 3.3 %
Cenovus Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a $0.104 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.52%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, June 14th. Cenovus Energy’s payout ratio is currently 14.90%.
Cenovus Energy Company Profile
Cenovus Energy, Inc is a Canadian-based integrated energy company, which engages in the provision of gas and oil. It operates through the following segments: Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Corporate and Eliminations. The Oil Sands segment is involved in the development and production of bitumen and heavy oil in northern Alberta and Saskatchewan.
Read More
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