Capital Fund Management S.A. bought a new position in Cenovus Energy Inc (NYSE:CVE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 220,822 shares of the company’s stock, valued at approximately $3,052,000.
A number of other institutional investors have also made changes to their positions in the company. Bank of Montreal Can acquired a new position in shares of Cenovus Energy during the second quarter worth about $289,644,000. Goldman Sachs Group Inc. boosted its position in shares of Cenovus Energy by 59.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,395,765 shares of the company’s stock worth $31,145,000 after buying an additional 890,838 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Cenovus Energy by 184.8% in the first quarter. Renaissance Technologies LLC now owns 2,201,800 shares of the company’s stock worth $28,624,000 after buying an additional 1,428,700 shares during the last quarter. Beutel Goodman & Co Ltd. boosted its position in shares of Cenovus Energy by 11.3% in the second quarter. Beutel Goodman & Co Ltd. now owns 42,418,807 shares of the company’s stock worth $582,692,000 after buying an additional 4,305,355 shares during the last quarter. Finally, British Columbia Investment Management Corp boosted its position in shares of Cenovus Energy by 3.7% in the second quarter. British Columbia Investment Management Corp now owns 127,500 shares of the company’s stock worth $1,357,000 after buying an additional 4,500 shares during the last quarter. Institutional investors own 67.80% of the company’s stock.
Cenovus Energy Inc (NYSE:CVE) traded down 0.42% during midday trading on Tuesday, reaching $14.31. 2,199,313 shares of the company’s stock traded hands. Cenovus Energy Inc has a 52 week low of $9.10 and a 52 week high of $17.23. The company’s 50-day moving average price is $14.40 and its 200 day moving average price is $14.30. The stock has a market capitalization of $11.92 billion, a price-to-earnings ratio of 20.41 and a beta of 0.81.
Cenovus Energy (NYSE:CVE) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.09. Cenovus Energy had a net margin of 6.97% and a negative return on equity of 7.35%. During the same quarter last year, the business posted $0.18 earnings per share. On average, equities research analysts expect that Cenovus Energy Inc will post ($0.60) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a dividend of $0.0378 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.15 annualized dividend and a dividend yield of 1.06%. Cenovus Energy’s dividend payout ratio (DPR) is 20.83%.
A number of equities analysts have issued reports on CVE shares. Bank of America Corp. started coverage on shares of Cenovus Energy in a research report on Friday, August 19th. They set a “neutral” rating and a $17.00 target price for the company. Zacks Investment Research lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Nomura reissued a “hold” rating on shares of Cenovus Energy in a research report on Monday, September 26th. Scotiabank reissued an “outperform” rating and issued a $20.00 price objective on shares of Cenovus Energy in a research report on Sunday, July 31st. Finally, TD Securities reissued a “buy” rating and issued a $21.00 price objective on shares of Cenovus Energy in a research report on Sunday, July 31st. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $20.00.
About Cenovus Energy
Cenovus Energy Inc is a Canada-based integrated oil company. It is engaged in the business of developing, producing and marketing crude oil, natural gas liquids (NGLs) and natural gas. Its segments include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations. The Oil Sands segment includes the development and production of bitumen and natural gas in northeast Alberta.
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