Cenovus Energy Inc $CVE Position Reduced by International Assets Investment Management LLC

International Assets Investment Management LLC trimmed its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 29.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,125 shares of the oil and gas company’s stock after selling 19,123 shares during the period. International Assets Investment Management LLC’s holdings in Cenovus Energy were worth $1,191,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVE. Jones Financial Companies Lllp lifted its holdings in shares of Cenovus Energy by 574.8% in the first quarter. Jones Financial Companies Lllp now owns 21,607 shares of the oil and gas company’s stock valued at $301,000 after buying an additional 18,405 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Cenovus Energy by 6.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 747,472 shares of the oil and gas company’s stock worth $10,397,000 after acquiring an additional 44,125 shares during the period. Prudential Financial Inc. acquired a new position in Cenovus Energy during the second quarter worth about $525,000. EverSource Wealth Advisors LLC raised its position in Cenovus Energy by 57.8% in the second quarter. EverSource Wealth Advisors LLC now owns 4,912 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Cenovus Energy in the second quarter worth about $495,000. 51.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CVE shares. Royal Bank Of Canada raised their price objective on shares of Cenovus Energy from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Tuesday, May 19th. UBS Group reiterated a “buy” rating on shares of Cenovus Energy in a report on Thursday, April 9th. Wall Street Zen raised shares of Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Lake Street Capital set a $36.00 target price on shares of Cenovus Energy in a report on Wednesday, May 13th. Finally, Weiss Ratings raised Cenovus Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Cenovus Energy currently has a consensus rating of “Buy” and a consensus target price of $35.25.

Cenovus Energy Stock Down 0.1%

Cenovus Energy stock opened at $26.38 on Monday. Cenovus Energy Inc has a twelve month low of $13.90 and a twelve month high of $32.07. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.57. The firm has a market cap of $49.07 billion, a PE ratio of 14.49 and a beta of 0.34. The firm’s 50 day moving average price is $27.72 and its two-hundred day moving average price is $24.02.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Cenovus Energy had a return on equity of 15.29% and a net margin of 9.53%.The firm had revenue of $10.79 billion during the quarter, compared to analysts’ expectations of $9.47 billion. During the same quarter last year, the firm earned $0.47 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, research analysts predict that Cenovus Energy Inc will post 3.02 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, June 15th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.20. Cenovus Energy’s dividend payout ratio (DPR) is presently 34.62%.

Cenovus Energy 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.