Amundi Sells 219,795 Shares of Cenovus Energy Inc $CVE

Amundi trimmed its holdings in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 4.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,146,401 shares of the oil and gas company's stock after selling 219,795 shares during the period. Amundi owned about 0.28% of Cenovus Energy worth $127,682,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TD Asset Management Inc boosted its position in Cenovus Energy by 3.6% during the 4th quarter. TD Asset Management Inc now owns 16,995,459 shares of the oil and gas company's stock valued at $287,897,000 after buying an additional 595,518 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in shares of Cenovus Energy in the second quarter valued at about $17,275,000. Beverly Hills Private Wealth LLC purchased a new position in shares of Cenovus Energy in the second quarter valued at about $2,678,000. Alberta Investment Management Corp bought a new position in shares of Cenovus Energy during the second quarter valued at about $143,730,000. Finally, GQG Partners LLC bought a new position in shares of Cenovus Energy during the second quarter valued at about $411,552,000. 51.19% of the stock is owned by institutional investors.

Cenovus Energy Price Performance

Shares of CVE stock opened at $33.44 on Thursday. The business's fifty day moving average is $29.65 and its 200 day moving average is $27.52. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.25. The stock has a market cap of $61.62 billion, a price-to-earnings ratio of 12.86 and a beta of 0.35. Cenovus Energy Inc has a twelve month low of $15.63 and a twelve month high of $33.87.

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 for the quarter, hitting analysts' consensus estimates of $1.11. The firm had revenue of $14.59 billion for the quarter, compared to the consensus estimate of $11.87 billion. Cenovus Energy had a net margin of 12.37% and a return on equity of 21.08%. The company's revenue was up 47.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 EPS. Research analysts expect that Cenovus Energy Inc will post 3.2 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Tuesday, September 15th. Cenovus Energy's dividend payout ratio (DPR) is presently 24.62%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Royal Bank Of Canada upped their price target on Cenovus Energy from $47.00 to $51.00 and gave the company an "outperform" rating in a research report on Thursday, July 30th. Weiss Ratings raised Cenovus Energy from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Desjardins upgraded Cenovus Energy to a "moderate buy" rating in a report on Thursday, July 16th. Wall Street Zen lowered Cenovus Energy from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 5th. Finally, JPMorgan Chase & Co. upgraded shares of Cenovus Energy from a "neutral" rating to an "overweight" rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $39.00.

About Cenovus Energy

Cenovus Energy Inc is an integrated Canadian energy company headquartered in Calgary, Alberta. The company explores for, develops, produces and markets crude oil, natural gas and natural gas liquids, with a significant focus on oil sands projects in Alberta. Its upstream operations include oil sands mining and in situ production, conventional oil and natural gas assets, and offshore production interests in the Atlantic region.

Cenovus also operates downstream businesses that upgrade, refine and market petroleum products.

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