Trexquant Investment LP Sells 78,593 Shares of Cenovus Energy Inc $CVE

Key Points

• Trexquant Investment LP has reduced its stake in Cenovus Energy Inc by 13.9%, selling 78,593 shares, leaving them with a total of 486,785 shares valued at approximately $6.77 million.
• Cenovus Energy recently reported an earnings per share (EPS) of $0.33, exceeding the consensus estimate by $0.19, despite a 12.6% revenue decline year-over-year.
• The company announced a quarterly dividend of $0.20 per share, equating to an annualized dividend yield of 4.8%, with the payout ratio currently at 57.43%.

Trexquant Investment LP lowered its stake in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 13.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 486,785 shares of the oil and gas company's stock after selling 78,593 shares during the quarter. Trexquant Investment LP's holdings in Cenovus Energy were worth $6,771,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVE. Public Employees Retirement System of Ohio increased its stake in Cenovus Energy by 0.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 241,113 shares of the oil and gas company's stock worth $3,653,000 after purchasing an additional 762 shares during the period. NFP Retirement Inc. boosted its holdings in shares of 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. lifted its holdings in shares of 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 buying an additional 1,000 shares during the period. SeaBridge Investment Advisors LLC increased its position in Cenovus Energy by 10.0% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 11,000 shares of the oil and gas company's stock valued at $153,000 after buying an additional 1,000 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its stake in shares of Cenovus Energy by 11.4% in the first quarter. Arkadios Wealth Advisors now owns 19,943 shares of the oil and gas company's stock worth $277,000 after purchasing an additional 2,035 shares during the last quarter. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Stock Down 2.4%

Shares of NYSE:CVE traded down $0.40 on Friday, reaching $16.09. The company had a trading volume of 5,528,610 shares, compared to its average volume of 12,172,884. Cenovus Energy Inc has a 52-week low of $10.23 and a 52-week high of $18.61. The firm's 50 day simple moving average is $15.00 and its 200-day simple moving average is $13.82. The firm has a market capitalization of $28.93 billion, a PE ratio of 15.93 and a beta of 0.99. 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 released its quarterly earnings data 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 business had revenue of $10.66 billion during the quarter, compared to analyst estimates of $10.64 billion. During the same quarter last year, the business posted $0.62 EPS. The company's revenue was down 12.6% on a year-over-year basis. As a group, analysts expect that Cenovus Energy Inc will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.80 annualized dividend and a yield of 5.0%. Cenovus Energy's dividend payout ratio is currently 57.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CVE shares. Jefferies Financial Group restated a "buy" rating on shares of Cenovus Energy in a research report on Tuesday. Royal Bank Of Canada increased their price target on Cenovus Energy from $25.00 to $26.00 and gave the company an "outperform" rating in a report on Friday, August 1st. UBS Group reaffirmed a "buy" rating on shares of Cenovus Energy in a research report on Monday, August 25th. Wall Street Zen upgraded Cenovus Energy from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Finally, Veritas lowered Cenovus Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Cenovus Energy 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.