DekaBank Deutsche Girozentrale reduced its holdings in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 16.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 465,000 shares of the oil and gas company's stock after selling 91,995 shares during the period. DekaBank Deutsche Girozentrale's holdings in Cenovus Energy were worth $7,700,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Quilter Plc acquired a new stake in shares of Cenovus Energy during the 1st quarter valued at about $866,944,000. NBC Securities Inc. acquired a new position in Cenovus Energy in the third quarter valued at about $34,000. KB Financial Partners LLC acquired a new position in Cenovus Energy in the first quarter valued at about $40,000. CWM LLC boosted its position in Cenovus Energy by 19.2% in the third quarter. CWM LLC now owns 3,336 shares of the oil and gas company's stock valued at $69,000 after buying an additional 537 shares in the last quarter. Finally, Operose Advisors LLC acquired a new position in Cenovus Energy in the third quarter valued at about $79,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.
Cenovus Energy Price Performance
Shares of NYSE CVE traded down $0.70 during trading on Thursday, reaching $21.10. The company had a trading volume of 18,855,894 shares, compared to its average volume of 11,454,089. Cenovus Energy Inc. has a 52 week low of $14.69 and a 52 week high of $21.90. The stock has a market cap of $39.38 billion, a PE ratio of 13.35 and a beta of 2.15. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.91 and a current ratio of 1.56. The business's 50 day moving average price is $18.40 and its 200-day moving average price is $18.01.
Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its earnings results on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.04. The company had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $9.73 billion. Cenovus Energy had a net margin of 7.88% and a return on equity of 14.85%. During the same period in the previous year, the firm posted $0.29 earnings per share. Analysts expect that Cenovus Energy Inc. will post 1.73 earnings per share for the current year.
Cenovus Energy Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.1033 per share. This represents a $0.41 dividend on an annualized basis and a dividend yield of 1.96%. This is an increase from Cenovus Energy's previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, March 14th. Cenovus Energy's payout ratio is 25.95%.
Analysts Set New Price Targets
A number of equities analysts have commented on CVE shares. UBS Group upgraded shares of Cenovus Energy from a "neutral" rating to a "buy" rating in a research report on Friday, February 23rd. Morgan Stanley boosted their price target on shares of Cenovus Energy from $28.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, March 28th. Royal Bank of Canada restated an "outperform" rating and issued a $28.00 price target on shares of Cenovus Energy in a research report on Friday, January 26th. Finally, StockNews.com raised shares of Cenovus Energy from a "hold" rating to a "buy" rating in a research note on Thursday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $26.67.
Check Out Our Latest Stock Report on CVE
Cenovus Energy Company Profile
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Free Report)
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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