Alyeska Investment Group L.P. reduced its stake in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 25.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,903,727 shares of the oil and gas company's stock after selling 968,569 shares during the quarter. Alyeska Investment Group L.P. owned about 0.16% of Cenovus Energy worth $72,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Orion Capital Management LLC purchased a new stake in Cenovus Energy in the 2nd quarter worth $25,000. Gables Capital Management Inc. bought a new position in Cenovus Energy during the second quarter valued at approximately $35,000. Transamerica Financial Advisors LLC grew its holdings in Cenovus Energy by 1,302.7% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company's stock valued at $26,000 after buying an additional 1,433 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Cenovus Energy during the 4th quarter valued at approximately $38,000. Finally, Allworth Financial LP bought a new stake in Cenovus Energy in the 2nd quarter worth approximately $68,000. Institutional investors own 51.19% of the company's stock.
Cenovus Energy Stock Up 0.1%
Shares of CVE opened at $31.60 on Monday. The company has a market cap of $58.44 billion, a PE ratio of 12.15 and a beta of 0.34. The business has a fifty day moving average of $28.40 and a 200 day moving average of $26.91. Cenovus Energy Inc has a 52-week low of $15.63 and a 52-week high of $33.40. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.25.
Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its earnings results on Wednesday, July 29th. The oil and gas company reported $1.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.11. The firm had revenue of $14.59 billion during the quarter, compared to analyst estimates of $11.87 billion. Cenovus Energy had a net margin of 12.37% and a return on equity of 21.08%. The business's revenue was up 47.9% on a year-over-year basis. During the same quarter last year, the business earned $0.45 EPS. On average, sell-side analysts expect that Cenovus Energy Inc will post 3.2 EPS for the current year.
Cenovus Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, September 15th. Cenovus Energy's dividend payout ratio is presently 24.62%.
Analysts Set New Price Targets
Several analysts have recently issued reports on the company. Royal Bank Of Canada upped their price objective on Cenovus Energy from $47.00 to $51.00 and gave the stock an "outperform" rating in a report on Thursday, July 30th. Raymond James Financial lowered shares of Cenovus Energy from a "strong-buy" rating to an "outperform" rating in a report on Wednesday, May 6th. Morgan Stanley restated an "overweight" rating on shares of Cenovus Energy in a research report on Wednesday, August 19th. Weiss Ratings raised shares of Cenovus Energy from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Finally, Zacks Research lowered shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $36.25.
Read Our Latest Stock Report on Cenovus Energy
About Cenovus Energy
(
Free Report)
Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.
The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.
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