Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 7.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,119,551 shares of the oil and gas company’s stock after buying an additional 73,095 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of Cenovus Energy worth $9,895,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Candriam Luxembourg S.C.A. lifted its holdings in shares of Cenovus Energy by 3.4% in the second quarter. Candriam Luxembourg S.C.A. now owns 34,134 shares of the oil and gas company’s stock valued at $300,000 after purchasing an additional 1,122 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Cenovus Energy by 8.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 14,989 shares of the oil and gas company’s stock valued at $130,000 after purchasing an additional 1,168 shares in the last quarter. Mraz Amerine & Associates Inc. lifted its holdings in shares of Cenovus Energy by 4.5% in the first quarter. Mraz Amerine & Associates Inc. now owns 36,395 shares of the oil and gas company’s stock valued at $316,000 after purchasing an additional 1,575 shares in the last quarter. Pictet Asset Management Ltd. lifted its holdings in shares of Cenovus Energy by 0.4% in the first quarter. Pictet Asset Management Ltd. now owns 402,723 shares of the oil and gas company’s stock valued at $3,497,000 after purchasing an additional 1,600 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC lifted its holdings in shares of Cenovus Energy by 66.7% in the second quarter. SeaBridge Investment Advisors LLC now owns 5,000 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 2,000 shares in the last quarter. 75.67% of the stock is currently owned by hedge funds and other institutional investors.
NYSE CVE opened at $8.28 on Wednesday. Cenovus Energy Inc has a 12 month low of $6.15 and a 12 month high of $10.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.54. The company has a market capitalization of $10.20 billion, a price-to-earnings ratio of -4.76, a price-to-earnings-growth ratio of 2.58 and a beta of 0.97. The company’s fifty day moving average price is $8.87 and its two-hundred day moving average price is $8.87.Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.07). The company had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.38 billion. Cenovus Energy had a net margin of 1.25% and a negative return on equity of 8.70%. During the same quarter last year, the company earned ($0.24) earnings per share. As a group, analysts anticipate that Cenovus Energy Inc will post 0.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.038 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Thursday, September 12th. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s dividend payout ratio (DPR) is -8.62%.
Separately, CIBC raised shares of Cenovus Energy from a “neutral” rating to an “outperform” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $13.41.
Cenovus Energy 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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