Van ECK Associates Corp decreased its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 39.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 78,968 shares of the oil and gas company’s stock after selling 52,455 shares during the quarter. Van ECK Associates Corp’s holdings in Cenovus Energy were worth $582,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVE. Airain ltd acquired a new position in Cenovus Energy during the 1st quarter worth about $224,000. Tobam acquired a new position in Cenovus Energy during the 2nd quarter worth about $309,000. Aviva PLC lifted its position in Cenovus Energy by 23.4% during the 2nd quarter. Aviva PLC now owns 639,225 shares of the oil and gas company’s stock worth $4,707,000 after buying an additional 121,210 shares in the last quarter. Capital Fund Management S.A. lifted its position in Cenovus Energy by 80.2% during the 2nd quarter. Capital Fund Management S.A. now owns 933,736 shares of the oil and gas company’s stock worth $6,882,000 after buying an additional 415,456 shares in the last quarter. Finally, Quantitative Investment Management LLC acquired a new position in Cenovus Energy during the 2nd quarter worth about $14,036,000. 56.17% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Inc (NYSE CVE) opened at 10.02 on Friday. Cenovus Energy Inc has a 52-week low of $6.76 and a 52-week high of $16.82. The firm’s 50-day moving average is $8.07 and its 200-day moving average is $9.17. The firm has a market capitalization of $12.31 billion, a P/E ratio of 4.09 and a beta of 0.56.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.24. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Cenovus Energy had a return on equity of 3.20% and a net margin of 17.89%. During the same period in the previous year, the business posted ($0.05) earnings per share. On average, equities analysts expect that Cenovus Energy Inc will post $0.39 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a dividend of $0.039 per share. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Thursday, September 14th. Cenovus Energy’s payout ratio is 8.89%.

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Several research analysts recently issued reports on the stock. UBS AG downgraded shares of Cenovus Energy from a “market perform” rating to an “underperform” rating in a research report on Wednesday, July 5th. Zacks Investment Research upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating and set a $8.25 price target on the stock in a research report on Tuesday, July 25th. BidaskClub downgraded shares of Cenovus Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $8.00 price target on shares of Cenovus Energy in a research report on Thursday, June 22nd. Finally, Canaccord Genuity reiterated a “buy” rating and set a $14.50 price target on shares of Cenovus Energy in a research report on Monday, September 25th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $17.11.

Cenovus Energy Profile

Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

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