Candriam Luxembourg S.C.A. reduced its stake in Cenovus Energy Inc. (NYSE:CVE) by 45.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,440 shares of the company’s stock after selling 16,860 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Cenovus Energy were worth $281,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. M&T Bank Corp raised its position in Cenovus Energy by 4.8% in the first quarter. M&T Bank Corp now owns 12,881 shares of the company’s stock valued at $168,000 after buying an additional 589 shares in the last quarter. Investec Asset Management North America Inc. bought a new position in Cenovus Energy during the first quarter valued at about $2,713,000. AMF Pensionsforsakring AB raised its position in Cenovus Energy by 3.7% in the first quarter. AMF Pensionsforsakring AB now owns 879,643 shares of the company’s stock valued at $11,562,000 after buying an additional 31,642 shares in the last quarter. 1832 Asset Management L.P. raised its position in Cenovus Energy by 193.8% in the first quarter. 1832 Asset Management L.P. now owns 7,246,586 shares of the company’s stock valued at $154,065,000 after buying an additional 4,779,913 shares in the last quarter. Finally, Scotia Capital Inc. raised its position in Cenovus Energy by 5.6% in the first quarter. Scotia Capital Inc. now owns 1,712,311 shares of the company’s stock valued at $22,262,000 after buying an additional 90,352 shares in the last quarter. Institutional investors and hedge funds own 67.80% of the company’s stock.
Shares of Cenovus Energy Inc. (NYSE:CVE) traded up 1.31% during trading on Thursday, reaching $15.51. The company’s stock had a trading volume of 1,806,530 shares. The firm has a market cap of $12.92 billion, a PE ratio of 22.16 and a beta of 0.81. The stock’s 50 day moving average price is $14.37 and its 200-day moving average price is $14.37. Cenovus Energy Inc. has a 12 month low of $9.10 and a 12 month high of $16.81.
Cenovus Energy (NYSE:CVE) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.09. Cenovus Energy had a negative return on equity of 7.35% and a net margin of 6.97%. During the same quarter in the prior year, the company posted $0.18 earnings per share. Equities analysts predict that Cenovus Energy Inc. will post ($0.59) EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a dividend of $0.0378 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.15 dividend on an annualized basis and a yield of 0.98%. Cenovus Energy’s payout ratio is currently 20.83%.
CVE has been the topic of several recent analyst reports. Bank of America Corp. initiated coverage on Cenovus Energy in a report on Friday, August 19th. They set a “neutral” rating and a $17.00 target price on the stock. TD Securities lowered Cenovus Energy from a “buy” rating to a “hold” rating and set a $21.00 target price on the stock. in a report on Wednesday, August 10th. Credit Suisse Group AG reiterated a “buy” rating on shares of Cenovus Energy in a report on Sunday, July 10th. Nomura reiterated a “hold” rating on shares of Cenovus Energy in a report on Monday, September 26th. Finally, Zacks Investment Research lowered Cenovus Energy from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $20.00.
Cenovus Energy Company Profile
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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