Swiss National Bank Raises Holdings in Cenovus Energy Inc (CVE)
Swiss National Bank boosted its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 4.2% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 3,951,800 shares of the oil and gas company’s stock after acquiring an additional 157,600 shares during the quarter. Swiss National Bank owned about 0.32% of Cenovus Energy worth $29,137,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. FNY Partners Fund LP acquired a new stake in Cenovus Energy during the 1st quarter worth about $113,000. Neuberger Berman Group LLC lifted its position in Cenovus Energy by 7.4% during the 1st quarter. Neuberger Berman Group LLC now owns 12,992 shares of the oil and gas company’s stock worth $147,000 after acquiring an additional 900 shares during the period. Acadian Asset Management LLC lifted its position in Cenovus Energy by 51.6% during the 1st quarter. Acadian Asset Management LLC now owns 13,800 shares of the oil and gas company’s stock worth $156,000 after acquiring an additional 4,700 shares during the period. Allegis Investment Advisors LLC lifted its position in Cenovus Energy by 16.9% during the 2nd quarter. Allegis Investment Advisors LLC now owns 13,933 shares of the oil and gas company’s stock worth $103,000 after acquiring an additional 2,016 shares during the period. Finally, Cigna Investments Inc. New acquired a new stake in Cenovus Energy during the 2nd quarter worth about $110,000. 56.17% of the stock is owned by institutional investors.
A number of analysts have commented on the company. UBS AG cut Cenovus Energy from a “market perform” rating to an “underperform” rating in a research report on Wednesday, July 5th. BidaskClub raised Cenovus Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised Cenovus Energy from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Canaccord Genuity reissued a “buy” rating and issued a $14.00 price objective on shares of Cenovus Energy in a report on Tuesday. Finally, Barclays PLC reissued an “overweight” rating and issued a $22.00 price objective (up previously from $15.00) on shares of Cenovus Energy in a report on Wednesday, July 12th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $17.04.
Cenovus Energy Inc (NYSE:CVE) opened at 8.12 on Friday. Cenovus Energy Inc has a 52 week low of $6.76 and a 52 week high of $16.82. The company has a 50 day moving average price of $7.89 and a 200 day moving average price of $9.43. The stock has a market cap of $9.98 billion, a price-to-earnings ratio of 3.46 and a beta of 0.56.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share for the quarter, topping the consensus estimate 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) earnings per share. Analysts expect that Cenovus Energy Inc will post $0.40 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.039 per share. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. The ex-dividend date is Thursday, September 14th. This represents a $0.16 annualized dividend and a dividend yield of 1.92%. Cenovus Energy’s dividend payout ratio is 8.33%.
Cenovus Energy Profile
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).
Receive News & Stock 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 stocks with our FREE daily email newsletter.