Renaissance Technologies LLC Sells 4,360,106 Shares of Cenovus Energy Inc. (NYSE:CVE)

Renaissance Technologies LLC lessened its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 95.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 220,794 shares of the oil and gas company’s stock after selling 4,360,106 shares during the period. Renaissance Technologies LLC’s holdings in Cenovus Energy were worth $1,658,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Marshall Wace LLP bought a new stake in shares of Cenovus Energy during the 1st quarter worth approximately $25,000. Fifth Third Bancorp lifted its holdings in shares of Cenovus Energy by 104.9% during the 1st quarter. Fifth Third Bancorp now owns 3,823 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 1,957 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Cenovus Energy during the 1st quarter worth approximately $43,000. Atlas Capital Advisors LLC bought a new stake in shares of Cenovus Energy during the 1st quarter worth approximately $43,000. Finally, Laidlaw Wealth Management LLC bought a new stake in shares of Cenovus Energy during the 4th quarter worth approximately $60,000. 50.81% of the stock is owned by institutional investors.

CVE opened at $8.09 on Thursday. Cenovus Energy Inc. has a twelve month low of $3.15 and a twelve month high of $10.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.82 and a current ratio of 1.36. The business’s fifty day moving average price is $9.00. The firm has a market capitalization of $16.32 billion, a PE ratio of -28.89 and a beta of 3.21.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, May 6th. The oil and gas company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.04). Cenovus Energy had a negative return on equity of 6.34% and a negative net margin of 1.76%. The firm had revenue of $7.52 billion for the quarter, compared to analyst estimates of $7.32 billion. During the same quarter last year, the company earned ($0.12) earnings per share. On average, equities research analysts anticipate that Cenovus Energy Inc. will post 0.88 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 15th were given a dividend of $0.0144 per share. The ex-dividend date of this dividend was Monday, June 14th. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a dividend yield of 0.71%.

CVE has been the subject of a number of recent analyst reports. Raymond James began coverage on shares of Cenovus Energy in a report on Tuesday. They set a “hold” rating and a $13.50 price target for the company. National Bank Financial increased their price objective on shares of Cenovus Energy from C$19.50 to C$20.00 and gave the company an “outperform” rating in a research note on Monday. Scotiabank increased their price objective on shares of Cenovus Energy from C$13.00 to C$14.00 and gave the company an “outperform” rating in a research note on Thursday, July 15th. Zacks Investment Research raised shares of Cenovus Energy from a “sell” rating to a “hold” rating and set a $11.00 price objective for the company in a research note on Thursday, June 10th. Finally, Desjardins raised shares of Cenovus Energy from a “hold” rating to a “buy” rating and increased their price objective for the company from $8.00 to $14.00 in a research note on Friday, March 26th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $12.69.

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, the United States and the Asia Pacific region. The company operates through Oil Sands, Conventional, and Refining and Marketing segments. The Oil Sands segment develops and produces bitumen in northeast Alberta.

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

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