Cenovus Energy Inc (NYSE:CVE) Position Cut by Korea Investment CORP

Korea Investment CORP cut its stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 7.3% during the second quarter, Holdings Channel reports. The firm owned 825,377 shares of the oil and gas company’s stock after selling 64,793 shares during the period. Korea Investment CORP’s holdings in Cenovus Energy were worth $6,076,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of CVE. Creative Planning raised its position in Cenovus Energy by 4,215.1% in the first quarter. Creative Planning now owns 139,249 shares of the oil and gas company’s stock valued at $1,574,000 after buying an additional 136,022 shares during the period. Gulf International Bank UK Ltd raised its position in Cenovus Energy by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 266,304 shares of the oil and gas company’s stock valued at $3,009,000 after buying an additional 3,600 shares during the period. Capstone Asset Management Co. raised its position in Cenovus Energy by 5.1% in the first quarter. Capstone Asset Management Co. now owns 86,359 shares of the oil and gas company’s stock valued at $976,000 after buying an additional 4,210 shares during the period. Candriam Luxembourg S.C.A. raised its position in Cenovus Energy by 10.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 22,361 shares of the oil and gas company’s stock valued at $252,000 after buying an additional 2,200 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co raised its position in Cenovus Energy by 112.0% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 440,500 shares of the oil and gas company’s stock valued at $4,981,000 after buying an additional 232,716 shares during the period. 55.90% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cenovus Energy Inc (NYSE CVE) opened at 7.98 on Friday. The stock’s 50 day moving average is $7.62 and its 200 day moving average is $10.29. The firm has a market cap of $9.81 billion, a P/E ratio of 3.36 and a beta of 0.57. Cenovus Energy Inc has a 52 week low of $6.76 and a 52 week high of $16.82.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.24. Cenovus Energy had a net margin of 17.89% and a return on equity of 3.20%. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the firm earned ($0.05) EPS. On average, equities research analysts predict that Cenovus Energy Inc will post $0.37 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.039 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Thursday, September 14th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s dividend payout ratio is currently 8.33%.

ILLEGAL ACTIVITY WARNING: “Cenovus Energy Inc (NYSE:CVE) Position Cut by Korea Investment CORP” was first reported by Ticker Report and is owned by of Ticker Report. If you are reading this news story on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this news story can be viewed at https://www.tickerreport.com/banking-finance/2802358/cenovus-energy-inc-nysecve-position-cut-by-korea-investment-corp.html.

Several equities analysts recently commented on CVE shares. Canaccord Genuity reissued a “hold” rating and issued a $16.50 target price on shares of Cenovus Energy in a report on Wednesday, April 26th. Zacks Investment Research lowered Cenovus Energy from a “buy” rating to a “hold” rating in a report on Monday, May 1st. Credit Suisse Group reissued an “outperform” rating on shares of Cenovus Energy in a report on Friday, May 26th. ValuEngine lowered Cenovus Energy from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, BidaskClub raised Cenovus Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $17.34.

About Cenovus Energy

Want to see what other hedge funds are holding CVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cenovus Energy Inc (NYSE:CVE) (TSE:CVE).

Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

Receive News & Ratings for Cenovus Energy Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.