Capital Fund Management S.A. increased its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 422.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,981 shares of the oil and gas company’s stock after buying an additional 115,600 shares during the period. Capital Fund Management S.A.’s holdings in Cenovus Energy were worth $1,261,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Marshall Wace LLP bought a new position in Cenovus Energy in the 1st quarter valued at about $25,000. SeaBridge Investment Advisors LLC lifted its position in Cenovus Energy by 66.7% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 5,000 shares of the oil and gas company’s stock valued at $44,000 after acquiring an additional 2,000 shares in the last quarter. K.J. Harrison & Partners Inc bought a new position in Cenovus Energy in the 2nd quarter valued at about $108,000. Picton Mahoney Asset Management bought a new position in Cenovus Energy in the 2nd quarter valued at about $123,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Cenovus Energy by 8.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 14,989 shares of the oil and gas company’s stock valued at $130,000 after acquiring an additional 1,168 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.
Separately, CIBC raised shares of Cenovus Energy from a “neutral” rating to an “outperform” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $13.41.
Shares of NYSE:CVE traded up $0.19 during mid-day trading on Thursday, reaching $9.56. The company had a trading volume of 225,277 shares, compared to its average volume of 4,186,376. The company has a current ratio of 1.02, a quick ratio of 0.54 and a debt-to-equity ratio of 0.41. The firm has a market cap of $11.25 billion, a price-to-earnings ratio of -5.45, a PEG ratio of 3.01 and a beta of 0.96. The company’s 50-day moving average price is $8.72 and its 200-day moving average price is $8.92. Cenovus Energy Inc has a one year low of $6.15 and a one year high of $10.65.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted 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 negative return on equity of 8.70% and a net margin of 1.25%. The company had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.38 billion. During the same period last year, the firm posted ($0.24) EPS. On average, research analysts anticipate that Cenovus Energy Inc will post 0.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.038 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 1.59%. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Thursday, September 12th. Cenovus Energy’s payout ratio is currently -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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