Beck Mack & Oliver LLC maintained its position in Cenovus Energy Inc. (NYSE:CVE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,428 shares of the company’s stock at the end of the second quarter. Beck Mack & Oliver LLC’s holdings in Cenovus Energy were worth $255,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of CVE. Beutel Goodman & Co Ltd. raised its position in shares of Cenovus Energy by 11.3% in the second quarter. Beutel Goodman & Co Ltd. now owns 42,418,807 shares of the company’s stock valued at $582,692,000 after buying an additional 4,305,355 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Cenovus Energy during the second quarter valued at about $289,644,000. Legal & General Group Plc raised its position in shares of Cenovus Energy by 3.8% in the first quarter. Legal & General Group Plc now owns 3,908,240 shares of the company’s stock valued at $51,070,000 after buying an additional 142,508 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Cenovus Energy by 59.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,395,765 shares of the company’s stock valued at $31,145,000 after buying an additional 890,838 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Cenovus Energy by 2.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,375,384 shares of the company’s stock valued at $32,705,000 after buying an additional 64,502 shares during the last quarter. 67.78% of the stock is currently owned by hedge funds and other institutional investors.
Cenovus Energy Inc. (NYSE:CVE) traded up 1.16% during midday trading on Wednesday, hitting $15.64. 1,217,018 shares of the stock were exchanged. Cenovus Energy Inc. has a 52 week low of $9.10 and a 52 week high of $16.68. The firm’s 50-day moving average is $14.44 and its 200 day moving average is $14.45. The stock has a market cap of $13.03 billion, a price-to-earnings ratio of 22.34 and a beta of 0.81.
Cenovus Energy (NYSE:CVE) last released its earnings results on Thursday, July 28th. The company reported ($0.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.09. Cenovus Energy had a net margin of 6.97% and a negative return on equity of 7.35%. During the same period in the prior year, the company posted $0.18 earnings per share. Equities research analysts expect that Cenovus Energy Inc. will post ($0.57) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were given a dividend of $0.0378 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Tuesday, September 13th. Cenovus Energy’s dividend payout ratio is presently 20.83%.
CVE has been the topic of several research reports. Credit Suisse Group AG reaffirmed a “buy” rating and set a $22.00 price objective on shares of Cenovus Energy in a report on Friday, July 29th. Zacks Investment Research raised Cenovus Energy from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Tuesday, August 2nd. TD Securities reaffirmed a “buy” rating and set a $21.00 price objective on shares of Cenovus Energy in a report on Sunday, July 31st. Nomura reaffirmed a “hold” rating on shares of Cenovus Energy in a report on Monday, September 26th. Finally, JPMorgan Chase & Co. raised their price objective on Cenovus Energy from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, July 29th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $20.00.
About Cenovus Energy
Cenovus Energy Inc is a Canada-based integrated oil company. It is engaged in the business of developing, producing and marketing crude oil, natural gas liquids (NGLs) and natural gas. Its segments include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations. The Oil Sands segment includes the development and production of bitumen and natural gas in northeast Alberta.
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