Mraz Amerine & Associates Inc. trimmed its holdings in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,375 shares of the oil and gas company’s stock after selling 2,020 shares during the period. Mraz Amerine & Associates Inc.’s holdings in Cenovus Energy were worth $303,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Capital Wealth Planning LLC bought a new stake in Cenovus Energy during the second quarter valued at about $146,000. Swiss National Bank raised its holdings in Cenovus Energy by 5.3% during the second quarter. Swiss National Bank now owns 3,852,900 shares of the oil and gas company’s stock valued at $33,979,000 after acquiring an additional 193,400 shares during the period. Candriam Luxembourg S.C.A. increased 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 worth $300,000 after purchasing an additional 1,122 shares during the last quarter. TD Asset Management Inc. increased its holdings in shares of Cenovus Energy by 4.2% in the second quarter. TD Asset Management Inc. now owns 43,206,265 shares of the oil and gas company’s stock worth $381,888,000 after purchasing an additional 1,739,611 shares during the last quarter. Finally, Aperio Group LLC increased its holdings in shares of Cenovus Energy by 10.7% in the second quarter. Aperio Group LLC now owns 196,491 shares of the oil and gas company’s stock worth $1,733,000 after purchasing an additional 19,009 shares during the last quarter. Institutional investors and hedge funds own 76.18% of the company’s stock.
CVE has been the topic of several research reports. CIBC raised Cenovus Energy from a “neutral” rating to an “outperform” rating in a report on Thursday, July 18th. GMP Securities reaffirmed a “buy” rating and issued a $17.50 target price on shares of Cenovus Energy in a report on Thursday, April 25th. Finally, ValuEngine cut Cenovus Energy from a “buy” rating to a “hold” rating in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $13.41.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Thursday, July 25th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 firm 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) earnings per share. As a group, analysts forecast that Cenovus Energy Inc will post 0.54 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a $0.038 dividend. This represents a $0.15 annualized dividend and a dividend yield of 1.86%. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.04. The ex-dividend date is Thursday, September 12th. Cenovus Energy’s payout ratio is -8.62%.
About Cenovus Energy
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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