Signaturefd LLC Raises Stock Holdings in Cenovus Energy Inc $CVE

Signaturefd LLC raised its position in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 84.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,224 shares of the oil and gas company's stock after acquiring an additional 29,371 shares during the quarter. Signaturefd LLC's holdings in Cenovus Energy were worth $873,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CVE. Ridgewood Investments LLC acquired a new position in shares of Cenovus Energy during the second quarter valued at approximately $27,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Cenovus Energy in the first quarter valued at approximately $38,000. Cromwell Holdings LLC increased 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 valued at $42,000 after purchasing an additional 2,808 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Cenovus Energy in the first quarter valued at approximately $42,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Cenovus Energy by 190.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 5,988 shares of the oil and gas company's stock valued at $81,000 after purchasing an additional 3,924 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company's stock.

Cenovus Energy Trading Down 2.8%

NYSE:CVE opened at $17.27 on Tuesday. The firm has a market cap of $30.87 billion, a PE ratio of 17.10 and a beta of 0.99. The stock has a fifty day moving average price of $16.00 and a 200 day moving average price of $14.24. Cenovus Energy Inc has a 12-month low of $10.23 and a 12-month high of $18.61. 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 (NYSE:CVE - Get Free Report) TSE: CVE last posted its quarterly 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. Cenovus Energy had a return on equity of 9.06% and a net margin of 5.18%.The company had revenue of $10.66 billion for the quarter, compared to analysts' expectations of $10.64 billion. During the same period last year, the firm earned $0.62 earnings per share. Cenovus Energy's quarterly revenue was down 12.6% on a year-over-year basis. Sell-side analysts anticipate that Cenovus Energy Inc will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were paid a $0.20 dividend. The ex-dividend date was Monday, September 15th. This represents a $0.80 dividend on an annualized basis and a yield of 4.6%. Cenovus Energy's dividend payout ratio (DPR) is currently 57.43%.

Analyst Ratings Changes

Several equities research analysts recently commented on CVE shares. National Bankshares reaffirmed an "outperform" rating on shares of Cenovus Energy in a report on Wednesday, September 10th. National Bank Financial upgraded Cenovus Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 22nd. Royal Bank Of Canada increased their price objective on Cenovus Energy from $25.00 to $26.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Wall Street Zen upgraded Cenovus Energy from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Finally, UBS Group reiterated a "buy" rating on shares of Cenovus Energy in a research report on Monday, August 25th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $23.33.

Cenovus Energy 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.

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