Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 6.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,352,859 shares of the oil and gas company's stock after selling 87,378 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of Cenovus Energy worth $18,800,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in CVE. Toronto Dominion Bank grew its stake in Cenovus Energy by 91.7% during the 4th quarter. Toronto Dominion Bank now owns 7,233,491 shares of the oil and gas company's stock valued at $109,515,000 after acquiring an additional 3,460,311 shares in the last quarter. Polar Asset Management Partners Inc. grew its stake in Cenovus Energy by 79.8% during the 4th quarter. Polar Asset Management Partners Inc. now owns 125,637 shares of the oil and gas company's stock valued at $1,903,000 after acquiring an additional 55,780 shares in the last quarter. Franklin Resources Inc. grew its stake in Cenovus Energy by 105.0% during the 4th quarter. Franklin Resources Inc. now owns 4,337,551 shares of the oil and gas company's stock valued at $65,667,000 after acquiring an additional 2,221,549 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Cenovus Energy by 4.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,226,155 shares of the oil and gas company's stock valued at $79,176,000 after acquiring an additional 245,302 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Cenovus Energy by 185.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 48,103 shares of the oil and gas company's stock valued at $669,000 after acquiring an additional 31,265 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company's stock.
Cenovus Energy Trading Up 1.1%
NYSE CVE traded up $0.17 during trading hours on Thursday, reaching $15.24. The company had a trading volume of 20,899,822 shares, compared to its average volume of 11,953,330. The stock has a 50-day moving average of $14.09 and a 200 day moving average of $13.71. Cenovus Energy Inc has a 1-year low of $10.23 and a 1-year high of $20.40. The company has a current ratio of 1.46, a quick ratio of 0.84 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $27.52 billion, a P/E ratio of 14.24 and a beta of 0.93.
Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. The company had revenue of $11.15 billion for the quarter, compared to analyst estimates of $12.39 billion. Cenovus Energy had a net margin of 5.22% and a return on equity of 9.56%. During the same period in the prior year, the firm earned $0.62 earnings per share. As a group, research analysts anticipate that Cenovus Energy Inc will post 1.49 earnings per share for the current fiscal year.
Cenovus Energy Increases Dividend
The firm 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 represents a yield of 425.0%. This is a boost from Cenovus Energy's previous dividend of $0.11. The ex-dividend date was Friday, June 13th. Cenovus Energy's payout ratio is currently 54.21%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on CVE shares. The Goldman Sachs Group lowered their price target on shares of Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. National Bankshares reissued a "sector perform" rating on shares of Cenovus Energy in a research report on Friday, April 25th. Royal Bank Of Canada reissued an "outperform" rating and set a $25.00 price target on shares of Cenovus Energy in a research report on Friday, April 11th. Wall Street Zen cut shares of Cenovus Energy from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $23.00.
Get Our Latest Analysis on Cenovus Energy
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.
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