Cenovus Energy Inc (CVE) Stake Increased by Schroder Investment Management Group
Schroder Investment Management Group grew its stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 162.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,632,839 shares of the oil and gas company’s stock after acquiring an additional 1,628,716 shares during the quarter. Schroder Investment Management Group owned about 0.21% of Cenovus Energy worth $23,236,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in CVE. FMR LLC boosted its holdings in shares of Cenovus Energy by 33.0% during the 1st quarter. FMR LLC now owns 43,684,595 shares of the oil and gas company’s stock valued at $494,381,000 after acquiring an additional 10,833,896 shares during the last quarter. Letko Brosseau & Associates Inc. boosted its holdings in shares of Cenovus Energy by 43.3% during the 1st quarter. Letko Brosseau & Associates Inc. now owns 19,804,042 shares of the oil and gas company’s stock valued at $223,728,000 after acquiring an additional 5,982,700 shares during the last quarter. Lincluden Management Ltd. boosted its holdings in shares of Cenovus Energy by 106,932.2% during the 2nd quarter. Lincluden Management Ltd. now owns 5,122,563 shares of the oil and gas company’s stock valued at $38,891,000 after acquiring an additional 5,117,777 shares during the last quarter. Segantii Capital Management Ltd purchased a new stake in shares of Cenovus Energy during the 1st quarter valued at about $56,319,000. Finally, Mawer Investment Management Ltd. boosted its holdings in shares of Cenovus Energy by 44.9% during the 1st quarter. Mawer Investment Management Ltd. now owns 10,149,361 shares of the oil and gas company’s stock valued at $200,353,000 after acquiring an additional 3,143,931 shares during the last quarter. 56.17% of the stock is currently owned by hedge funds and other institutional investors.
Cenovus Energy Inc (NYSE:CVE) opened at 8.67 on Wednesday. Cenovus Energy Inc has a 52 week low of $6.76 and a 52 week high of $16.82. The stock has a 50 day moving average of $7.92 and a 200 day moving average of $9.33. The company has a market cap of $10.65 billion, a PE ratio of 3.69 and a beta of 0.56.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Thursday, July 27th. The oil and gas company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.24. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.40 billion. Cenovus Energy had a return on equity of 3.20% and a net margin of 17.89%. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. Equities research analysts predict that Cenovus Energy Inc will post $0.42 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.039 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.16 dividend on an annualized basis and a yield of 1.80%. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s dividend payout ratio is currently 8.33%.
A number of analysts have recently issued reports on the stock. Credit Suisse Group reaffirmed an “outperform” rating on shares of Cenovus Energy in a report on Friday, May 26th. ValuEngine downgraded shares of Cenovus Energy from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. BidaskClub raised shares of Cenovus Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Canaccord Genuity reaffirmed a “buy” rating and set a $14.00 price target on shares of Cenovus Energy in a report on Tuesday, September 5th. Finally, Zacks Investment Research downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $17.04.
Cenovus Energy Profile
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