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

Key Points

• Anson Funds Management LP drastically reduced its stake in Cenovus Energy by 67.9%, holding 75,000 shares after selling 158,781 shares during the first quarter.
• Cenovus Energy reported earnings of $0.33 EPS for the quarter, exceeding expectations and highlighting a 12.6% decline in year-over-year revenue.
• The company has announced a $0.20 quarterly dividend, which will be paid on September 29, representing an annualized yield of 4.7%.

Anson Funds Management LP decreased its holdings in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 67.9% during the first quarter, according to its most recent disclosure with the SEC. The fund 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bruce G. Allen Investments LLC acquired a new stake in Cenovus Energy in the 1st quarter worth approximately $38,000. Cromwell Holdings LLC raised its holdings in shares of Cenovus Energy by 1,165.1% in 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 during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Cenovus Energy during the first quarter worth $42,000. Clarius Group LLC purchased a new stake in shares of Cenovus Energy during the first quarter valued at $150,000. Finally, SeaBridge Investment Advisors LLC increased its position in shares of Cenovus Energy by 10.0% in the 1st quarter. SeaBridge Investment Advisors LLC now owns 11,000 shares of the oil and gas company's stock valued at $153,000 after acquiring an additional 1,000 shares during the period. 51.19% of the stock is owned by hedge funds and other institutional investors.

Cenovus Energy Trading Up 4.8%

Shares of NYSE:CVE opened at $17.07 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 0.24. Cenovus Energy Inc has a 12-month low of $10.23 and a 12-month high of $18.61. The business has a 50 day moving average of $15.20 and a two-hundred day moving average of $13.85. The company has a market capitalization of $30.70 billion, a PE ratio of 16.90 and a beta of 0.99.

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

Cenovus Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.80 dividend on an annualized basis and a yield of 4.7%. Cenovus Energy's payout ratio is presently 57.43%.

Analyst Ratings Changes

CVE has been the subject of a number of research analyst reports. UBS Group restated a "buy" rating on shares of Cenovus Energy in a research note on Monday, August 25th. National Bank Financial upgraded Cenovus Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 22nd. National Bankshares reaffirmed an "outperform" rating on shares of Cenovus Energy in a report on Wednesday. Royal Bank Of Canada increased their price target on shares of Cenovus Energy from $25.00 to $26.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, Veritas lowered shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Cenovus Energy presently has a consensus rating of "Buy" and an average price target of $23.33.

About Cenovus Energy

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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