Oppenheimer Asset Management Inc. grew its holdings in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 55.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,546 shares of the oil and gas company’s stock after acquiring an additional 12,693 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Cenovus Energy were worth $262,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of CVE. Allegis Investment Advisors LLC increased its stake in shares of Cenovus Energy by 16.9% in the second quarter. Allegis Investment Advisors LLC now owns 13,933 shares of the oil and gas company’s stock valued at $103,000 after buying an additional 2,016 shares during the period. Cigna Investments Inc. New acquired a new position in shares of Cenovus Energy in the second quarter valued at approximately $110,000. FNY Partners Fund LP acquired a new position in shares of Cenovus Energy in the first quarter valued at approximately $113,000. Neuberger Berman Group LLC increased its stake in shares of Cenovus Energy by 7.4% in the first quarter. Neuberger Berman Group LLC now owns 12,992 shares of the oil and gas company’s stock valued at $147,000 after buying an additional 900 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Cenovus Energy by 51.6% in the first quarter. Acadian Asset Management LLC now owns 13,800 shares of the oil and gas company’s stock valued at $156,000 after buying an additional 4,700 shares during the period. 56.17% of the stock is owned by hedge funds and other institutional investors.
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Cenovus Energy Inc (NYSE:CVE) opened at 9.36 on Wednesday. The company has a 50 day moving average price of $8.07 and a 200-day moving average price of $9.17. Cenovus Energy Inc has a one year low of $6.76 and a one year high of $16.82. The company has a market capitalization of $11.50 billion, a PE ratio of 3.93 and a beta of 0.56.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.24. Cenovus Energy had a return on equity of 3.20% and a net margin of 17.89%. The firm had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the firm earned ($0.05) earnings per share. Analysts expect that Cenovus Energy Inc will post $0.40 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.039 per share. The ex-dividend date is Thursday, September 14th. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a dividend yield of 1.67%. Cenovus Energy’s payout ratio is 8.89%.
Several research firms have recently issued reports on CVE. BidaskClub raised Cenovus Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Zacks Investment Research downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. National Bank Financial began coverage on Cenovus Energy in a research note on Tuesday, June 27th. They issued a “sector perform” rating for the company. Barclays PLC reaffirmed an “overweight” rating and issued a $22.00 price objective (up previously from $15.00) on shares of Cenovus Energy in a research note on Wednesday, July 12th. Finally, Macquarie downgraded Cenovus Energy from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 21st. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $17.04.
About Cenovus Energy
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