Assenagon Asset Management S.A. decreased its stake in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 93.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,965 shares of the oil and gas company's stock after selling 401,816 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Cenovus Energy were worth $402,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC increased its position in Cenovus Energy by 104.9% in the fourth quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company's stock worth $25,000 after buying an additional 851 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in Cenovus Energy in the 1st quarter worth $38,000. Blue Trust Inc. increased its stake in Cenovus Energy by 54.7% in the 4th quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company's stock worth $72,000 after buying an additional 1,677 shares in the last quarter. Natixis purchased a new stake in Cenovus Energy in the 4th quarter worth $98,000. Finally, Black Maple Capital Management LP purchased a new stake in Cenovus Energy in the 4th quarter worth $167,000. Hedge funds and other institutional investors own 51.19% of the company's stock.
Cenovus Energy Trading Down 0.0%
Shares of NYSE:CVE traded down $0.01 during trading on Friday, reaching $14.64. The company's stock had a trading volume of 11,186,760 shares, compared to its average volume of 9,597,854. 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 Inc has a 12 month low of $10.23 and a 12 month high of $20.76. The firm's 50 day simple moving average is $13.10 and its two-hundred day simple moving average is $13.86. The stock has a market capitalization of $26.67 billion, a PE ratio of 13.68 and a beta of 0.94.
Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings results on Thursday, May 8th. The oil and gas company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.03. Cenovus Energy had a net margin of 5.22% and a return on equity of 9.56%. The firm had revenue of $11.15 billion during the quarter, compared to the consensus estimate of $12.39 billion. During the same quarter last year, the firm earned $0.62 EPS. On average, research 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 will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.20 dividend. This is an increase from Cenovus Energy's previous dividend of $0.11. The ex-dividend date is Friday, June 13th. This represents a dividend yield of 4.25%. Cenovus Energy's dividend payout ratio (DPR) is presently 54.21%.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. The Goldman Sachs Group cut their price target on Cenovus Energy from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Scotiabank upgraded Cenovus Energy to a "strong-buy" rating in a research note on Wednesday, March 19th. Veritas lowered Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $25.00 price objective on shares of Cenovus Energy in a report on Friday, April 11th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $25.75.
Get Our Latest Stock Report on CVE
About Cenovus Energy
(
Free Report)
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.
See Also
Before you consider Cenovus Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cenovus Energy wasn't on the list.
While Cenovus Energy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
