Mufg Securities Canada LTD. lowered its stake in shares of Cenovus Energy Inc (NYSE:CVE – Free Report) (TSE:CVE) by 4.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,909,564 shares of the oil and gas company’s stock after selling 98,310 shares during the period. Cenovus Energy accounts for approximately 1.3% of Mufg Securities Canada LTD.’s portfolio, making the stock its 24th largest holding. Mufg Securities Canada LTD.’s holdings in Cenovus Energy were worth $47,305,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CVE. Orion Capital Management LLC purchased a new position in Cenovus Energy during the 2nd quarter valued at about $25,000. Transamerica Financial Advisors LLC grew its stake in Cenovus Energy by 1,302.7% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 1,433 shares in the last quarter. Gables Capital Management Inc. bought a new stake in Cenovus Energy during the 2nd quarter worth approximately $35,000. Kestra Advisory Services LLC bought a new stake in Cenovus Energy during the 4th quarter worth approximately $38,000. Finally, Geneos Wealth Management Inc. lifted its stake in Cenovus Energy by 74.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 1,384 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors.
Cenovus Energy Stock Performance
Shares of NYSE CVE opened at $32.17 on Tuesday. The stock’s 50-day moving average is $28.53 and its 200 day moving average is $26.98. The stock has a market cap of $59.50 billion, a price-to-earnings ratio of 12.37 and a beta of 0.34. Cenovus Energy Inc has a 1-year low of $15.63 and a 1-year high of $33.40. The company has a current ratio of 1.63, a quick ratio of 1.04 and a debt-to-equity ratio of 0.25.
Cenovus Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, September 15th. Cenovus Energy’s dividend payout ratio is presently 24.62%.
Analyst Ratings Changes
CVE has been the subject of a number of recent analyst reports. Raymond James Financial lowered shares of Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, May 6th. Morgan Stanley restated an “overweight” rating on shares of Cenovus Energy in a research note on Wednesday, August 19th. Zacks Research downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Desjardins raised shares of Cenovus Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Finally, Scotiabank reiterated an “outperform” rating on shares of Cenovus Energy in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.25.
Check Out Our Latest Analysis on CVE
Cenovus Energy Company Profile
Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.
The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.
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