Cenovus Energy Inc $CVE Shares Sold by Anson Funds Management LP

Key Points

• Anson Funds Management LP significantly reduced its stake in Cenovus Energy by 67.9%, selling 158,781 shares and now holding 75,000 shares worth approximately $1,043,000.
• Cenovus Energy reported a Q2 EPS of $0.33, surpassing analyst expectations, although revenue fell 12.6% compared to the previous year.
• The company declared a dividend increase from $0.11 to $0.20 per share, with a payout ratio of 57.43% and a substantial yield of 425.0%.

Anson Funds Management LP cut its stake in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 67.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,000 shares of the oil and gas company's stock after selling 158,781 shares during the period. Anson Funds Management LP's holdings in Cenovus Energy were worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its position in shares of Cenovus Energy by 0.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 241,113 shares of the oil and gas company's stock valued at $3,653,000 after buying an additional 762 shares during the period. NFP Retirement Inc. increased its stake in Cenovus Energy by 2.7% during the first quarter. NFP Retirement Inc. now owns 34,500 shares of the oil and gas company's stock worth $480,000 after purchasing an additional 900 shares during the period. Guggenheim Capital LLC lifted its position in shares of Cenovus Energy by 4.5% during the fourth quarter. Guggenheim Capital LLC now owns 20,974 shares of the oil and gas company's stock worth $318,000 after purchasing an additional 908 shares in the last quarter. Meridian Investment Counsel Inc. boosted its position in Cenovus Energy by 4.9% in the 1st quarter. Meridian Investment Counsel Inc. now owns 21,275 shares of the oil and gas company's stock valued at $296,000 after buying an additional 1,000 shares during the period. Finally, SeaBridge Investment Advisors LLC boosted its holdings in Cenovus Energy by 10.0% in the first quarter. SeaBridge Investment Advisors LLC now owns 11,000 shares of the oil and gas company's stock valued at $153,000 after purchasing an additional 1,000 shares during the period. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Stock Performance

CVE opened at $16.3950 on Friday. Cenovus Energy Inc has a 1-year low of $10.23 and a 1-year high of $19.64. The stock has a market cap of $29.49 billion, a P/E ratio of 16.23 and a beta of 0.97. The stock's 50 day simple moving average is $14.55 and its 200 day simple moving average is $13.71. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 0.78.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings data on Thursday, July 31st. The oil and gas company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.14 by $0.19. Cenovus Energy had a net margin of 5.18% and a return on equity of 9.06%. The business had revenue of $10.66 billion for the quarter, compared to analyst estimates of $10.64 billion. During the same period in the previous year, the firm earned $0.62 EPS. The business's revenue for the quarter was down 12.6% compared to the same quarter last year. As a group, equities analysts anticipate that Cenovus Energy Inc will post 1.49 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The business also recently declared a dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $0.20 per share. This is an increase from Cenovus Energy's previous dividend of $0.11. This represents a yield of 425.0%. The ex-dividend date of this dividend was Friday, June 13th. Cenovus Energy's payout ratio is 57.43%.

Analyst Ratings Changes

A number of research analysts recently issued reports on CVE shares. The Goldman Sachs Group decreased their price target on shares of Cenovus Energy from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Veritas downgraded Cenovus Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 14th. Wall Street Zen upgraded shares of Cenovus Energy from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Finally, Royal Bank Of Canada raised their target price on shares of Cenovus Energy from $25.00 to $26.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Cenovus Energy has an average rating of "Moderate Buy" and an average price target of $23.33.

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.

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