Commerzbank Aktiengesellschaft FI decreased its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 46.6% in the second quarter, HoldingsChannel.com reports. The firm owned 193,204 shares of the oil and gas company’s stock after selling 168,757 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Cenovus Energy were worth $2,005,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in CVE. V Wealth Management LLC acquired a new stake in shares of Cenovus Energy during the second quarter worth about $132,000. Sciencast Management LP acquired a new stake in shares of Cenovus Energy during the first quarter worth about $133,000. Element Capital Management LLC acquired a new stake in shares of Cenovus Energy during the first quarter worth about $154,000. Addenda Capital Inc. acquired a new stake in shares of Cenovus Energy during the second quarter worth about $182,000. Finally, Nuveen Asset Management LLC acquired a new position in Cenovus Energy in the first quarter valued at approximately $188,000. 74.63% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the company. ValuEngine raised Cenovus Energy from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. BMO Capital Markets raised Cenovus Energy from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $15.00 to $17.00 in a report on Thursday, May 17th. Morgan Stanley boosted their price target on Cenovus Energy from $13.00 to $17.00 and gave the company an “equal weight” rating in a report on Wednesday, May 23rd. Macquarie raised Cenovus Energy from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 1st. Finally, Canaccord Genuity downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $14.08.
Shares of NYSE:CVE opened at $8.98 on Thursday. Cenovus Energy Inc has a 12-month low of $7.09 and a 12-month high of $11.52. 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 (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Thursday, July 26th. The oil and gas company reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.21). The company had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.25 billion. Cenovus Energy had a negative net margin of 2.56% and a negative return on equity of 6.66%. During the same period in the previous year, the firm posted $0.36 earnings per share. sell-side analysts anticipate that Cenovus Energy Inc will post -0.36 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be given a $0.038 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Thursday, September 13th. Cenovus Energy’s dividend payout ratio (DPR) is presently -750.00%.
Cenovus Energy Company 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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