Employees Retirement System of Texas Maintains Position in Cenovus Energy Inc (CVE)
Employees Retirement System of Texas continued to hold its stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,000 shares of the oil and gas company’s stock at the close of the 2nd quarter. Employees Retirement System of Texas’ holdings in Cenovus Energy were worth $243,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of CVE. Allegis Investment Advisors LLC increased its position in shares of Cenovus Energy by 16.9% during the second 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 in the last quarter. Cigna Investments Inc. New bought a new stake in shares of Cenovus Energy during the second quarter worth $110,000. FNY Partners Fund LP bought a new stake in shares of Cenovus Energy during the first quarter worth $113,000. HighTower Advisors LLC bought a new stake in shares of Cenovus Energy during the second quarter worth $130,000. Finally, Neuberger Berman Group LLC increased its position in shares of Cenovus Energy by 7.4% during the first 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 in the last quarter. 56.17% of the stock is owned by hedge funds and other institutional investors.
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Cenovus Energy Inc (CVE) opened at 9.91 on Friday. The company’s 50-day moving average is $9.49 and its 200 day moving average is $8.82. The firm has a market cap of $12.18 billion, a PE ratio of 4.04 and a beta of 0.60. Cenovus Energy Inc has a one year low of $6.76 and a one year high of $16.82.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly 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 business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.40 billion. Cenovus Energy had a net margin of 17.89% and a return on equity of 3.20%. During the same quarter in the previous year, the business posted ($0.05) EPS. Equities analysts anticipate that Cenovus Energy Inc will post $0.50 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a dividend of $0.039 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Thursday, September 14th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s payout ratio is 8.89%.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Cenovus Energy from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Thursday. Canaccord Genuity reissued a “buy” rating and set a $15.50 price objective on shares of Cenovus Energy in a research report on Thursday. Royal Bank Of Canada reissued a “buy” rating and set a $15.00 price objective on shares of Cenovus Energy in a research report on Monday, October 16th. Morgan Stanley set a $15.00 price objective on shares of Cenovus Energy and gave the stock a “buy” rating in a research report on Friday, October 13th. Finally, BidaskClub downgraded shares of Cenovus Energy from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. Cenovus Energy has an average rating of “Hold” and an average target price of $16.06.
Cenovus Energy Profile
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