Russell Investments Group Ltd. reduced its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 7.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,126,302 shares of the oil and gas company’s stock after selling 343,699 shares during the quarter. Russell Investments Group Ltd.’s holdings in Cenovus Energy were worth $42,368,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lincluden Management Ltd. lifted its position in shares of Cenovus Energy by 6.6% in the 1st quarter. Lincluden Management Ltd. now owns 6,623,838 shares of the oil and gas company’s stock worth $56,361,000 after buying an additional 407,855 shares during the last quarter. Dreman Value Management L L C bought a new position in shares of Cenovus Energy in the 1st quarter worth about $156,000. Commerzbank Aktiengesellschaft FI lifted its position in shares of Cenovus Energy by 1,092.5% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 361,961 shares of the oil and gas company’s stock worth $3,091,000 after buying an additional 331,608 shares during the last quarter. Alpha Omega Wealth Management LLC lifted its position in shares of Cenovus Energy by 5.0% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 374,583 shares of the oil and gas company’s stock worth $3,199,000 after buying an additional 17,682 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Cenovus Energy by 0.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,006,682 shares of the oil and gas company’s stock worth $25,564,000 after buying an additional 21,459 shares during the last quarter. Hedge funds and other institutional investors own 74.38% of the company’s stock.
CVE stock opened at $9.22 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.17 and a debt-to-equity ratio of 0.53. Cenovus Energy Inc has a fifty-two week low of $7.09 and a fifty-two week high of $11.52.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Thursday, July 26th. The oil and gas company reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.21). Cenovus Energy had a negative return on equity of 6.66% and a negative net margin of 2.56%. The firm had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.25 billion. During the same period last year, the business earned $0.36 EPS. equities research analysts anticipate that Cenovus Energy Inc will post -0.31 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a $0.038 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.65%. Cenovus Energy’s dividend payout ratio (DPR) is presently -750.00%.
A number of research firms have recently issued reports on CVE. Morgan Stanley raised their price target on shares of Cenovus Energy from $13.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 23rd. BMO Capital Markets upgraded shares of Cenovus Energy from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $15.00 to $17.00 in a research report on Thursday, May 17th. National Bank Financial upgraded shares of Cenovus Energy from a “sector perform overweight” rating to an “outperform overweight” rating in a research report on Thursday, May 31st. ValuEngine upgraded shares of Cenovus Energy from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Finally, Macquarie upgraded shares of Cenovus Energy from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $14.08.
Cenovus Energy Profile
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.
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