Northern Trust Corp grew its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 8.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,046,958 shares of the oil and gas company’s stock after buying an additional 84,564 shares during the quarter. Northern Trust Corp owned 0.09% of Cenovus Energy worth $10,868,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Nomura Holdings Inc. increased its position in Cenovus Energy by 119.5% in the 2nd quarter. Nomura Holdings Inc. now owns 35,282 shares of the oil and gas company’s stock valued at $366,000 after acquiring an additional 216,426 shares during the period. Bank of Nova Scotia increased its position in Cenovus Energy by 6.4% in the 2nd quarter. Bank of Nova Scotia now owns 3,775,862 shares of the oil and gas company’s stock valued at $39,058,000 after acquiring an additional 227,001 shares during the period. Jafra Capital Management LP acquired a new position in Cenovus Energy in the 2nd quarter valued at approximately $2,605,000. Soros Fund Management LLC increased its position in Cenovus Energy by 250.0% in the 2nd quarter. Soros Fund Management LLC now owns 1,750,000 shares of the oil and gas company’s stock valued at $18,165,000 after acquiring an additional 1,250,000 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in Cenovus Energy in the 2nd quarter valued at approximately $223,000. Institutional investors own 74.04% of the company’s stock.
NYSE:CVE opened at $8.94 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.26. Cenovus Energy Inc has a 52 week low of $7.09 and a 52 week high of $11.48. The firm has a market capitalization of $11.29 billion, a PE ratio of -447.00 and a beta of 0.76.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be paid a $0.0382 dividend. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, December 13th. Cenovus Energy’s dividend payout ratio is currently -750.00%.
A number of research firms have recently commented on CVE. Scotiabank raised shares of Cenovus Energy from a “sector perform” rating to a “buy” rating in a research note on Tuesday, October 30th. Raymond James reaffirmed a “hold” rating on shares of Cenovus Energy in a research note on Thursday, November 1st. Tudor Pickering lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. ValuEngine raised shares of Cenovus Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Finally, TD Securities raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Monday, October 22nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $14.33.
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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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