AMP Capital Investors Ltd increased its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 38.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 521,267 shares of the oil and gas company’s stock after purchasing an additional 144,471 shares during the quarter. AMP Capital Investors Ltd’s holdings in Cenovus Energy were worth $5,409,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. CIBC Asset Management Inc boosted its position in Cenovus Energy by 43.5% during the 2nd quarter. CIBC Asset Management Inc now owns 12,727,218 shares of the oil and gas company’s stock valued at $132,171,000 after acquiring an additional 3,856,743 shares in the last quarter. Toronto Dominion Bank boosted its position in Cenovus Energy by 101.7% during the 2nd quarter. Toronto Dominion Bank now owns 6,585,468 shares of the oil and gas company’s stock valued at $68,253,000 after acquiring an additional 3,321,205 shares in the last quarter. Arosa Capital Management LP bought a new stake in Cenovus Energy during the 1st quarter valued at $6,832,000. Ninepoint Partners LP bought a new stake in Cenovus Energy during the 1st quarter valued at $6,671,000. Finally, CIBC World Markets Inc. boosted its position in Cenovus Energy by 5.0% during the 1st quarter. CIBC World Markets Inc. now owns 12,651,576 shares of the oil and gas company’s stock valued at $108,044,000 after acquiring an additional 607,428 shares in the last quarter. 74.63% of the stock is currently owned by institutional investors.
Cenovus Energy stock opened at $8.86 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.17 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $11.22 billion, a PE ratio of -443.00 and a beta of 0.63. Cenovus Energy Inc has a 1-year low of $7.09 and a 1-year high of $11.52.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, July 26th. The oil and gas company reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.21). The business had revenue of $4.67 billion during the quarter, compared to analyst estimates 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 period in the previous year, the business earned $0.36 EPS. equities research analysts expect that Cenovus Energy Inc will post -0.34 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be given a $0.038 dividend. The ex-dividend date is Thursday, September 13th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.72%. Cenovus Energy’s payout ratio is -750.00%.
Several analysts have issued reports on CVE shares. ValuEngine raised Cenovus Energy from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Tudor Pickering cut Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Morgan Stanley increased their target price on Cenovus Energy from $13.00 to $17.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 23rd. Goldman Sachs Group cut Cenovus Energy from a “neutral” rating to a “sell” rating in a research report on Friday, September 7th. Finally, National Bank Financial raised Cenovus Energy from a “sector perform overweight” rating to an “outperform overweight” rating in a research report on Thursday, May 31st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $14.08.
Cenovus Energy 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.
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