Cenovus Energy Inc. (CVE) Position Decreased by Swiss National Bank
Swiss National Bank reduced its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 0.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,685,500 shares of the company’s stock after selling 28,800 shares during the period. Swiss National Bank owned approximately 0.56% of Cenovus Energy worth $67,267,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in Cenovus Energy by 13.1% in the second quarter. PNC Financial Services Group Inc. now owns 9,147 shares of the company’s stock valued at $128,000 after buying an additional 1,059 shares during the period. Marshall Wace LLP acquired a new stake in Cenovus Energy during the second quarter valued at $141,000. Quantitative Investment Management LLC acquired a new stake in Cenovus Energy during the second quarter valued at $152,000. Trexquant Investment LP acquired a new stake in Cenovus Energy during the second quarter valued at $173,000. Finally, Commonwealth Equity Services Inc raised its stake in Cenovus Energy by 35.4% in the second quarter. Commonwealth Equity Services Inc now owns 13,563 shares of the company’s stock valued at $187,000 after buying an additional 3,547 shares during the period. Institutional investors and hedge funds own 67.22% of the company’s stock.
Shares of Cenovus Energy Inc. (NYSE:CVE) opened at 14.11 on Wednesday. The company has a 50 day moving average of $14.83 and a 200 day moving average of $14.54. Cenovus Energy Inc. has a 12 month low of $9.10 and a 12 month high of $16.56. The stock’s market cap is $11.76 billion.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be issued a dividend of $0.0376 per share. This represents a $0.15 annualized dividend and a yield of 1.07%. The ex-dividend date is Tuesday, December 13th. Cenovus Energy’s dividend payout ratio is currently -12.93%.
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Several equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Cenovus Energy from a “hold” rating to a “sell” rating in a research note on Thursday, October 27th. RBC Capital Markets reiterated an “outperform” rating and set a $23.00 price objective on shares of Cenovus Energy in a research note on Wednesday, October 26th. TD Securities reiterated a “hold” rating and set a $21.00 price objective on shares of Cenovus Energy in a research note on Saturday, October 29th. Nomura restated a “hold” rating on shares of Cenovus Energy in a research report on Monday, September 26th. Finally, Scotiabank restated an “outperform” rating and issued a $21.00 target price (up previously from $20.00) on shares of Cenovus Energy in a research report on Saturday, October 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $20.31.
Cenovus Energy Company Profile
Cenovus Energy Inc is a Canada-based integrated oil company. It is engaged in the business of developing, producing and marketing crude oil, natural gas liquids (NGLs) and natural gas. Its segments include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations. The Oil Sands segment includes the development and production of bitumen and natural gas in northeast Alberta.
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