International Assets Investment Management LLC boosted its holdings in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 1,741.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 730,465 shares of the oil and gas company's stock after purchasing an additional 690,798 shares during the quarter. International Assets Investment Management LLC's holdings in Cenovus Energy were worth $122,210,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVE. SVB Wealth LLC increased its stake in Cenovus Energy by 2.6% in the 1st quarter. SVB Wealth LLC now owns 19,710 shares of the oil and gas company's stock worth $394,000 after acquiring an additional 507 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Cenovus Energy by 8.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company's stock worth $170,000 after acquiring an additional 643 shares during the last quarter. Cetera Advisors LLC increased its stake in Cenovus Energy by 5.2% in the 1st quarter. Cetera Advisors LLC now owns 16,347 shares of the oil and gas company's stock worth $327,000 after acquiring an additional 801 shares during the last quarter. Gold Investment Management Ltd. increased its stake in Cenovus Energy by 4.6% in the 1st quarter. Gold Investment Management Ltd. now owns 18,881 shares of the oil and gas company's stock worth $378,000 after acquiring an additional 833 shares during the last quarter. Finally, Wolff Wiese Magana LLC increased its stake in Cenovus Energy by 71.4% in the 1st quarter. Wolff Wiese Magana LLC now owns 2,400 shares of the oil and gas company's stock worth $48,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 51.19% of the company's stock.
Analyst Ratings Changes
A number of analysts have issued reports on the company. TD Securities downgraded Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 1st. BMO Capital Markets cut their target price on Cenovus Energy from $33.00 to $31.00 and set an "outperform" rating on the stock in a research report on Friday, October 4th. Scotiabank cut their target price on Cenovus Energy from $35.00 to $34.00 and set a "sector outperform" rating on the stock in a research report on Friday, July 12th. Finally, StockNews.com downgraded Cenovus Energy from a "buy" rating to a "hold" rating in a research report on Monday, September 30th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $30.75.
Check Out Our Latest Analysis on Cenovus Energy
Cenovus Energy Trading Up 1.0 %
CVE traded up $0.16 during trading hours on Friday, reaching $16.90. 4,461,980 shares of the company's stock traded hands, compared to its average volume of 8,870,396. The firm has a 50-day moving average price of $17.47 and a 200 day moving average price of $19.03. Cenovus Energy Inc. has a 52-week low of $14.69 and a 52-week high of $21.90. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $31.42 billion, a PE ratio of 9.39 and a beta of 2.04.
Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.13). Cenovus Energy had a net margin of 8.56% and a return on equity of 16.61%. The business had revenue of $10.88 billion for the quarter, compared to analysts' expectations of $9.78 billion. As a group, sell-side analysts predict that Cenovus Energy Inc. will post 1.84 EPS for the current fiscal year.
Cenovus Energy Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.132 dividend. This represents a $0.53 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Friday, September 13th. Cenovus Energy's dividend payout ratio is 29.44%.
About Cenovus Energy
(
Free Report)
Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.
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