First Hawaiian Bank Purchases 1,071 Shares of Cenovus Energy Inc. (NYSE:CVE)

First Hawaiian Bank increased its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,273 shares of the oil and gas company’s stock after purchasing an additional 1,071 shares during the period. First Hawaiian Bank’s holdings in Cenovus Energy were worth $1,362,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CVE. Capital World Investors grew its holdings in shares of Cenovus Energy by 5.4% during the fourth quarter. Capital World Investors now owns 150,534,829 shares of the oil and gas company’s stock valued at $2,508,185,000 after buying an additional 7,750,480 shares during the last quarter. Vanguard Group Inc. lifted its position in Cenovus Energy by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 48,563,284 shares of the oil and gas company’s stock valued at $970,780,000 after acquiring an additional 1,008,341 shares in the last quarter. TD Asset Management Inc boosted its stake in Cenovus Energy by 26.5% during the 4th quarter. TD Asset Management Inc now owns 42,191,779 shares of the oil and gas company’s stock valued at $706,503,000 after purchasing an additional 8,841,374 shares during the last quarter. Boston Partners increased its holdings in Cenovus Energy by 29.0% during the 1st quarter. Boston Partners now owns 37,540,511 shares of the oil and gas company’s stock worth $750,435,000 after purchasing an additional 8,438,979 shares in the last quarter. Finally, Capital International Investors raised its stake in shares of Cenovus Energy by 216.3% in the first quarter. Capital International Investors now owns 33,927,436 shares of the oil and gas company’s stock worth $678,250,000 after purchasing an additional 23,202,018 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Analysts Set New Price Targets

CVE has been the subject of several recent research reports. StockNews.com downgraded Cenovus Energy from a “strong-buy” rating to a “buy” rating in a report on Friday, July 26th. Scotiabank reduced their target price on shares of Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Finally, Raymond James raised shares of Cenovus Energy to a “moderate buy” rating in a research report on Tuesday, May 28th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $30.67.

Cenovus Energy Stock Performance

NYSE:CVE traded up $0.37 during trading on Tuesday, reaching $18.16. The company’s stock had a trading volume of 5,542,792 shares, compared to its average volume of 9,275,721. Cenovus Energy Inc. has a 12 month low of $14.69 and a 12 month high of $21.90. The firm has a market cap of $33.77 billion, a price-to-earnings ratio of 9.88 and a beta of 2.07. The firm has a 50 day moving average of $19.51 and a 200-day moving average of $19.10. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.70.

Cenovus Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.132 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.53 annualized dividend and a yield of 2.91%. Cenovus Energy’s payout ratio is currently 28.89%.

About Cenovus Energy

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.