Pzena Investment Management LLC lowered its holdings in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 3.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 20,229,435 shares of the oil and gas company’s stock after selling 670,989 shares during the period. Pzena Investment Management LLC’s holdings in Cenovus Energy were worth $178,424,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Candriam Luxembourg S.C.A. grew its position in shares of Cenovus Energy by 3.4% during the second quarter. Candriam Luxembourg S.C.A. now owns 34,134 shares of the oil and gas company’s stock worth $300,000 after purchasing an additional 1,122 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Cenovus Energy by 8.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 14,989 shares of the oil and gas company’s stock worth $130,000 after purchasing an additional 1,168 shares in the last quarter. Mraz Amerine & Associates Inc. grew its position in shares of Cenovus Energy by 4.5% during the first quarter. Mraz Amerine & Associates Inc. now owns 36,395 shares of the oil and gas company’s stock worth $316,000 after purchasing an additional 1,575 shares in the last quarter. Pictet Asset Management Ltd. grew its position in shares of Cenovus Energy by 0.4% during the first quarter. Pictet Asset Management Ltd. now owns 402,723 shares of the oil and gas company’s stock worth $3,497,000 after purchasing an additional 1,600 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC grew its position in shares of Cenovus Energy by 66.7% during the second quarter. SeaBridge Investment Advisors LLC now owns 5,000 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 76.18% of the company’s stock.
Several analysts recently issued reports on the company. CIBC upgraded Cenovus Energy from a “neutral” rating to an “outperform” rating in a research report on Thursday, July 18th. GMP Securities reiterated a “buy” rating and set a $17.50 target price on shares of Cenovus Energy in a research report on Thursday, April 25th. Finally, ValuEngine cut Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $13.41.
Cenovus Energy stock traded down $0.03 during midday trading on Friday, reaching $8.14. 196,922 shares of the stock traded hands, compared to its average volume of 3,668,797. The stock’s fifty day moving average is $9.00 and its 200-day moving average is $8.86. Cenovus Energy Inc has a 12 month low of $6.15 and a 12 month high of $10.65. The stock has a market cap of $10.04 billion, a P/E ratio of -4.72, a PEG ratio of 2.71 and a beta of 0.97. The company has a quick ratio of 0.54, a current ratio of 1.02 and a debt-to-equity ratio of 0.41.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). Cenovus Energy had a net margin of 1.25% and a negative return on equity of 8.70%. The firm had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same period in the previous year, the company posted ($0.24) earnings per share. On average, equities analysts predict that Cenovus Energy Inc will post 0.54 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a dividend of $0.038 per share. The ex-dividend date of this dividend is Thursday, September 12th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.15 dividend on an annualized basis and a yield of 1.87%. Cenovus Energy’s dividend payout ratio is presently -8.62%.
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 in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.
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