Cenovus Energy Inc $CVE Stake Boosted by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp has increased its stake in Cenovus Energy Inc by 62.1%, now owning 100,181 shares valued at $1.39 million.
• The company recently reported earnings of $0.33 per share, surpassing analysts' expectations, despite a 12.6% decline in quarterly revenue year-over-year.
• Cenovus Energy announced a quarterly dividend of $0.20 per share, translating to an annualized yield of 4.8%.

OMERS ADMINISTRATION Corp lifted its holdings in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 62.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 100,181 shares of the oil and gas company's stock after acquiring an additional 38,375 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Cenovus Energy were worth $1,392,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bruce G. Allen Investments LLC purchased a new stake in shares of Cenovus Energy during the first quarter worth about $38,000. Cromwell Holdings LLC grew its stake in 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 purchasing an additional 2,808 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Cenovus Energy in the first quarter valued at approximately $42,000. Clarius Group LLC acquired a new position in Cenovus Energy in the first quarter valued at approximately $150,000. Finally, SeaBridge Investment Advisors LLC boosted its stake 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 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 Price Performance

Shares of NYSE CVE traded down $0.01 during trading on Thursday, hitting $16.49. The company had a trading volume of 15,864,004 shares, compared to its average volume of 12,214,990. The company has a market cap of $29.65 billion, a P/E ratio of 16.32 and a beta of 0.99. Cenovus Energy Inc has a 52 week low of $10.23 and a 52 week high of $18.61. The business's 50-day moving average is $14.94 and its 200 day moving average is $13.81. 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 posted its quarterly earnings data on Thursday, July 31st. The oil and gas company reported $0.33 earnings per share 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 firm had revenue of $10.66 billion for the quarter, compared to analysts' expectations of $10.64 billion. During the same period in the previous year, the company posted $0.62 EPS. The company's quarterly revenue was down 12.6% compared to the same quarter last year. Equities research 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 disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.9%. The ex-dividend date is Monday, September 15th. Cenovus Energy's payout ratio is presently 56.44%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Jefferies Financial Group restated a "buy" rating on shares of Cenovus Energy in a research note on Tuesday. 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. Veritas downgraded Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, National Bankshares upgraded Cenovus Energy from a "sector perform" rating to an "outperform" rating in a research report on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $23.33.

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.