BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 2.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 798,917 shares of the oil and gas company's stock after selling 21,658 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Cenovus Energy were worth $11,105,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC purchased a new position in Cenovus Energy during the first quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd purchased a new position in Cenovus Energy during the first quarter worth approximately $42,000. Cromwell Holdings LLC lifted its position in Cenovus Energy by 1,165.1% during the first 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 in the last quarter. Clarius Group LLC purchased a new position in Cenovus Energy during the first quarter worth approximately $150,000. Finally, Black Maple Capital Management LP purchased a new position in Cenovus Energy during the fourth quarter worth approximately $167,000. Hedge funds and other institutional investors own 51.19% of the company's stock.
Wall Street Analysts Forecast Growth
CVE has been the topic of a number of research analyst reports. National Bank Financial upgraded Cenovus Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 22nd. Veritas downgraded Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. UBS Group restated a "buy" rating on shares of Cenovus Energy in a research report on Monday, August 25th. National Bankshares upgraded Cenovus Energy from a "sector perform" rating to an "outperform" rating in a research report on Friday, August 22nd. Finally, Royal Bank Of Canada lifted their target price on Cenovus Energy from $25.00 to $26.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $23.33.
View Our Latest Report on CVE
Cenovus Energy Trading Down 1.8%
Shares of CVE stock traded down $0.31 on Friday, hitting $16.64. The stock had a trading volume of 13,377,260 shares, compared to its average volume of 13,841,435. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 0.78. The firm has a market capitalization of $29.92 billion, a P/E ratio of 16.47 and a beta of 0.97. Cenovus Energy Inc has a 1 year low of $10.23 and a 1 year high of $19.06. The company's 50 day moving average price is $14.77 and its 200-day moving average price is $13.77.
Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its quarterly earnings data on Thursday, July 31st. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.19. The firm had revenue of $10.66 billion for the quarter, compared to the consensus estimate of $10.64 billion. Cenovus Energy had a return on equity of 9.06% and a net margin of 5.18%.The company's quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 EPS. Analysts anticipate that Cenovus Energy Inc will post 1.49 earnings per share for the current year.
Cenovus Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Monday, September 15th. Cenovus Energy's payout ratio is currently 57.43%.
Cenovus Energy Company Profile
(
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.
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