Great West Life Assurance Co. Can lowered its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 9.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,883,803 shares of the oil and gas company’s stock after selling 409,472 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Cenovus Energy were worth $40,443,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CVE. V Wealth Management LLC acquired a new stake in Cenovus Energy during the 2nd quarter valued at approximately $132,000. Sciencast Management LP acquired a new stake in Cenovus Energy during the 1st quarter valued at approximately $133,000. Cornerstone Wealth Management LLC acquired a new stake in Cenovus Energy during the 2nd quarter valued at approximately $1,398,000. Addenda Capital Inc. acquired a new stake in Cenovus Energy during the 2nd quarter valued at approximately $182,000. Finally, Element Capital Management LLC acquired a new stake in Cenovus Energy during the 1st quarter valued at approximately $154,000. 74.63% of the stock is owned by institutional investors.

A number of analysts have weighed in on CVE shares. Morgan Stanley increased their target price on shares of Cenovus Energy from $13.00 to $17.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 23rd. Canaccord Genuity downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Macquarie raised shares of Cenovus Energy from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 1st. ValuEngine raised shares of Cenovus Energy from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Finally, National Bank Financial raised shares of Cenovus Energy from a “sector perform overweight” rating to an “outperform overweight” rating in a research report on Thursday, May 31st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. Cenovus Energy currently has an average rating of “Hold” and a consensus price target of $14.08.

Cenovus Energy stock opened at $9.52 on Friday. Cenovus Energy Inc has a 52-week low of $7.09 and a 52-week high of $11.52. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.17 and a quick ratio of 0.81.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings results on Thursday, July 26th. The oil and gas company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.21). The business had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.25 billion. Cenovus Energy had a negative return on equity of 6.66% and a negative net margin of 2.56%. During the same quarter in the previous year, the company posted $0.36 earnings per share. sell-side analysts expect that Cenovus Energy Inc will post -0.31 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be issued a dividend of $0.038 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Thursday, September 13th. Cenovus Energy’s payout ratio is -750.00%.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.

Further Reading: Average Daily Trade Volume – What It Means In Stock Trading

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).

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

Receive News & Ratings for Cenovus Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy and related companies with MarketBeat.com's FREE daily email newsletter.