Anson Funds Management LP Sells 158,781 Shares of Cenovus Energy Inc $CVE

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 lessened its position 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 SEC. The firm 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 SEC.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Cenovus Energy by 8.8% during the first quarter. Vanguard Group Inc. now owns 54,483,601 shares of the oil and gas company's stock worth $757,213,000 after acquiring an additional 4,401,045 shares during the period. Mackenzie Financial Corp raised its stake in shares of Cenovus Energy by 56.5% in the first quarter. Mackenzie Financial Corp now owns 19,481,233 shares of the oil and gas company's stock valued at $270,742,000 after buying an additional 7,035,004 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Cenovus Energy by 33.6% in the first quarter. Dimensional Fund Advisors LP now owns 17,363,386 shares of the oil and gas company's stock valued at $241,513,000 after buying an additional 4,362,384 shares during the period. Smead Capital Management Inc. raised its stake in shares of Cenovus Energy by 2.5% in the first quarter. Smead Capital Management Inc. now owns 15,495,912 shares of the oil and gas company's stock valued at $215,418,000 after buying an additional 372,680 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Cenovus Energy by 40.2% in the first quarter. Invesco Ltd. now owns 11,281,543 shares of the oil and gas company's stock valued at $156,926,000 after buying an additional 3,237,659 shares during the period. Institutional investors own 51.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CVE shares. Jefferies Financial Group restated a "buy" rating on shares of Cenovus Energy in a research note on Tuesday, September 2nd. National Bank Financial upgraded Cenovus Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 22nd. UBS Group restated a "buy" rating on shares of Cenovus Energy in a research note on Monday, August 25th. Royal Bank Of Canada lifted their price target on Cenovus Energy from $25.00 to $26.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, National Bankshares reiterated an "outperform" rating on shares of Cenovus Energy in a research note on Wednesday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Cenovus Energy has an average rating of "Buy" and a consensus target price of $23.33.

Cenovus Energy Trading Up 3.1%

CVE stock traded up $0.54 during trading on Tuesday, hitting $17.70. 17,325,182 shares of the company traded hands, compared to its average volume of 12,435,461. The firm has a market capitalization of $31.83 billion, a PE ratio of 17.57 and a beta of 0.99. Cenovus Energy Inc has a 1 year low of $10.23 and a 1 year high of $18.61. The company has a 50-day moving average of $15.37 and a 200-day moving average of $13.91. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.78 and a current ratio of 1.32.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings results on Thursday, July 31st. The oil and gas company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.19. The business had revenue of $10.66 billion during the quarter, compared to analyst estimates of $10.64 billion. Cenovus Energy had a return on equity of 9.06% and a net margin of 5.18%.Cenovus Energy's quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 EPS. Analysts predict that Cenovus Energy Inc will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.80 annualized dividend and a dividend yield of 4.5%. Cenovus Energy's dividend payout ratio is currently 56.44%.

Cenovus Energy Company 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.