Janney Montgomery Scott LLC Decreases Position in Cenovus Energy Inc $CVE

Key Points

• Janney Montgomery Scott LLC has decreased its holdings in Cenovus Energy Inc by 70.2%, selling 38,186 shares and now owning only 16,219 shares valued at $221,000.
• Several other investors have increased their stakes in Cenovus Energy, with particular increases noted from Fulton Bank N.A. and NFP Retirement Inc., highlighting mixed investor sentiment.
• Cenovus Energy announced a quarterly dividend of $0.20 per share, translating to a 4.7% annualized yield with a payout ratio of 57.43%.

Janney Montgomery Scott LLC lessened its holdings in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 70.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,219 shares of the oil and gas company's stock after selling 38,186 shares during the quarter. Janney Montgomery Scott LLC's holdings in Cenovus Energy were worth $221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Fulton Bank N.A. raised its position in Cenovus Energy by 4.4% in the 2nd quarter. Fulton Bank N.A. now owns 19,201 shares of the oil and gas company's stock worth $261,000 after purchasing an additional 809 shares during the period. NFP Retirement Inc. raised its position in Cenovus Energy by 2.7% in the 1st 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. Meridian Investment Counsel Inc. raised 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 worth $296,000 after purchasing an additional 1,000 shares during the period. SeaBridge Investment Advisors LLC raised its position in 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 worth $153,000 after purchasing an additional 1,000 shares during the period. Finally, Ridgewood Investments LLC purchased a new position in Cenovus Energy in the 2nd quarter worth $27,000. Hedge funds and other institutional investors own 51.19% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of Cenovus Energy in a research report on Wednesday, October 8th. National Bankshares reissued an "outperform" rating on shares of Cenovus Energy in a report on Wednesday, September 10th. Wall Street Zen raised shares of Cenovus Energy from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Royal Bank Of Canada raised 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, UBS Group reissued a "buy" rating on shares of Cenovus Energy in a report on Monday, August 25th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $23.33.

Cenovus Energy Price Performance

Shares of Cenovus Energy stock opened at $16.97 on Tuesday. The company's fifty day simple moving average is $16.71 and its two-hundred day simple moving average is $14.60. The firm has a market cap of $30.32 billion, a PE ratio of 16.80 and a beta of 0.92. The company has a quick ratio of 0.78, a current ratio of 1.32 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 $18.60.

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

Cenovus Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.7%. Cenovus Energy's payout ratio is presently 57.43%.

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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