Two Sigma Securities LLC Has $718,000 Stock Holdings in Cenovus Energy Inc $CVE

Key Points

• Two Sigma Securities cut its Cenovus Energy stake by 51.6% in the second quarter, selling 30,781 shares and retaining 28,926 shares worth approximately $718,000. Institutional investors collectively own 51.19% of the company.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $36.25, despite some recent upgrades and downgrades.
• Cenovus reported quarterly EPS of $1.11 and revenue of $14.59 billion, up 47.9% year over year. The company also declared a quarterly dividend of $0.22 per share, representing a 2.7% yield.

Two Sigma Securities LLC lowered its stake in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 51.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,926 shares of the oil and gas company's stock after selling 30,781 shares during the quarter. Two Sigma Securities LLC's holdings in Cenovus Energy were worth $718,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CVE. Orion Capital Management LLC bought a new stake in Cenovus Energy in the 2nd quarter valued at $25,000. Transamerica Financial Advisors LLC boosted its stake in Cenovus Energy by 1,302.7% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company's stock worth $26,000 after purchasing an additional 1,433 shares during the period. Gables Capital Management Inc. bought a new position in Cenovus Energy during the 2nd quarter worth about $35,000. Kestra Advisory Services LLC acquired a new stake in shares of Cenovus Energy in the 4th quarter valued at about $38,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Cenovus Energy by 74.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company's stock valued at $44,000 after purchasing an additional 1,384 shares during the period. Institutional investors and hedge funds own 51.19% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Raymond James Financial cut Cenovus Energy from a "strong-buy" rating to an "outperform" rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded Cenovus Energy from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. UBS Group downgraded Cenovus Energy from a "buy" rating to a "neutral" rating in a research report on Wednesday. Scotiabank reaffirmed an "outperform" rating on shares of Cenovus Energy in a research note on Thursday, July 30th. Finally, Lake Street Capital set a $36.00 price target on shares of Cenovus Energy in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $36.25.

Cenovus Energy Price Performance

NYSE:CVE opened at $33.16 on Wednesday. The company has a market cap of $61.33 billion, a P/E ratio of 12.75 and a beta of 0.35. The firm's fifty day moving average price is $28.68 and its two-hundred day moving average price is $27.06. Cenovus Energy Inc has a one year low of $15.63 and a one year high of $33.40. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.04.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its earnings results on Wednesday, July 29th. The oil and gas company reported $1.11 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.11. The company had revenue of $14.59 billion during the quarter, compared to analysts' expectations of $11.87 billion. Cenovus Energy had a net margin of 12.37% and a return on equity of 21.08%. Cenovus Energy's quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 EPS. Equities analysts expect that Cenovus Energy Inc will post 3.2 earnings per share for the current year.

Cenovus Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.88 annualized dividend and a yield of 2.7%. Cenovus Energy's dividend payout ratio (DPR) is 24.62%.

Cenovus Energy Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.

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