Allianz Asset Management GmbH Has $2.73 Million Stake in Cenovus Energy Inc (NYSE:CVE)

Allianz Asset Management GmbH reduced its holdings in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 71.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,783 shares of the oil and gas company's stock after selling 501,109 shares during the period. Allianz Asset Management GmbH's holdings in Cenovus Energy were worth $2,734,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Dynasty Wealth Management LLC grew its holdings in Cenovus Energy by 151.2% in the 1st quarter. Dynasty Wealth Management LLC now owns 63,596 shares of the oil and gas company's stock valued at $885,000 after buying an additional 38,276 shares during the last quarter. SeaBridge Investment Advisors LLC lifted its position in shares of Cenovus Energy by 10.0% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 11,000 shares of the oil and gas company's stock worth $153,000 after buying an additional 1,000 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Cenovus Energy by 53.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,030,017 shares of the oil and gas company's stock worth $111,698,000 after buying an additional 2,803,862 shares during the period. Cromwell Holdings LLC lifted its position in shares of Cenovus Energy by 1,165.1% during the 1st quarter. Cromwell Holdings LLC now owns 3,049 shares of the oil and gas company's stock worth $42,000 after buying an additional 2,808 shares during the period. Finally, Cerity Partners LLC lifted its position in shares of Cenovus Energy by 377.7% during the 1st quarter. Cerity Partners LLC now owns 61,388 shares of the oil and gas company's stock worth $854,000 after buying an additional 48,537 shares during the period. 51.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CVE shares. The Goldman Sachs Group cut 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. Wall Street Zen cut Cenovus Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Morgan Stanley reaffirmed an "overweight" rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. Royal Bank Of Canada lifted their price objective on Cenovus Energy from $25.00 to $26.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, National Bankshares reiterated a "sector perform" rating on shares of Cenovus Energy in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.33.

Cenovus Energy Stock Down 2.8%

Shares of Cenovus Energy stock traded down $0.42 during trading on Friday, reaching $14.81. The stock had a trading volume of 15,903,040 shares, compared to its average volume of 11,990,439. The company has a market capitalization of $26.74 billion, a price-to-earnings ratio of 13.84 and a beta of 0.93. The stock has a fifty day moving average price of $14.13 and a two-hundred day moving average price of $13.70. Cenovus Energy Inc has a 52 week low of $10.23 and a 52 week high of $20.03. The company has a current ratio of 1.46, a quick ratio of 0.84 and a debt-to-equity ratio of 0.25.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its earnings results on Thursday, July 31st. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.19. Cenovus Energy had a return on equity of 9.56% and a net margin of 5.22%. The business had revenue of $10.66 billion for the quarter, compared to analyst estimates of $10.64 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. Cenovus Energy's revenue was down 12.6% on a year-over-year basis. Sell-side analysts predict that Cenovus Energy Inc will post 1.49 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently declared a dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $0.20 per share. This represents a yield of 425.0%. This is a boost from Cenovus Energy's previous dividend of $0.11. The ex-dividend date of this dividend was Friday, June 13th. Cenovus Energy's dividend payout ratio (DPR) is presently 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.