Scotia Capital Inc. increased its holdings in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 37.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,783,442 shares of the oil and gas company’s stock after buying an additional 764,869 shares during the period. Scotia Capital Inc. owned about 0.23% of Cenovus Energy worth $20,499,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of CVE. Allegis Investment Advisors LLC raised its stake in Cenovus Energy by 16.9% in the second quarter. Allegis Investment Advisors LLC now owns 13,933 shares of the oil and gas company’s stock worth $103,000 after buying an additional 2,016 shares in the last quarter. Cigna Investments Inc. New acquired a new position in shares of Cenovus Energy during the second quarter worth $110,000. FNY Partners Fund LP acquired a new position in shares of Cenovus Energy during the first quarter worth $113,000. First Commonwealth Financial Corp PA acquired a new position in shares of Cenovus Energy during the second quarter worth $114,000. Finally, Sciencast Management LP acquired a new position in shares of Cenovus Energy during the second quarter worth $124,000. 56.17% of the stock is owned by institutional investors.
CVE has been the topic of a number of recent analyst reports. BidaskClub raised Cenovus Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Macquarie downgraded Cenovus Energy from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 21st. Canaccord Genuity raised Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $8.00 price target on shares of Cenovus Energy in a research report on Thursday, June 22nd. Finally, National Bank Financial initiated coverage on Cenovus Energy in a research report on Tuesday, June 27th. They set a “sector perform” rating on the stock. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $17.11.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.24. Cenovus Energy had a net margin of 17.89% and a return on equity of 3.20%. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period last year, the business earned ($0.05) EPS. Equities analysts expect that Cenovus Energy Inc will post $0.48 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a dividend of $0.039 per share. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a yield of 1.64%. The ex-dividend date was Thursday, September 14th. Cenovus Energy’s dividend payout ratio (DPR) is presently 8.89%.
Cenovus Energy Profile
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