Cenovus Energy Inc $CVE Shares Sold by Korea Investment CORP

Korea Investment CORP lessened its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 30.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,068,720 shares of the oil and gas company’s stock after selling 466,091 shares during the quarter. Korea Investment CORP owned about 0.06% of Cenovus Energy worth $14,513,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fulton Bank N.A. grew its position in shares of Cenovus Energy by 4.4% during the second quarter. Fulton Bank N.A. now owns 19,201 shares of the oil and gas company’s stock worth $261,000 after acquiring an additional 809 shares during the last quarter. NFP Retirement Inc. boosted its stake in Cenovus Energy by 2.7% during the 1st quarter. NFP Retirement Inc. now owns 34,500 shares of the oil and gas company’s stock worth $480,000 after purchasing an additional 900 shares during the period. Allworth Financial LP grew its position in Cenovus Energy by 104.3% during the 2nd quarter. Allworth Financial LP now owns 2,288 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 1,168 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Cenovus Energy by 39.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 4,205 shares of the oil and gas company’s stock valued at $57,000 after purchasing an additional 1,199 shares during the period. Finally, Yousif Capital Management LLC raised its holdings in shares of Cenovus Energy by 8.3% in the second quarter. Yousif Capital Management LLC now owns 17,539 shares of the oil and gas company’s stock valued at $239,000 after buying an additional 1,340 shares during the last quarter. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Performance

NYSE CVE opened at $17.87 on Monday. The business has a 50 day moving average price of $17.38 and a 200 day moving average price of $15.73. The company has a market capitalization of $33.78 billion, a P/E ratio of 17.69 and a beta of 0.86. Cenovus Energy Inc has a 1-year low of $10.23 and a 1-year high of $18.75. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 0.78.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Friday, October 31st. The oil and gas company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.12. Cenovus Energy had a return on equity of 9.06% and a net margin of 5.18%.The company had revenue of $10.87 billion for the quarter, compared to the consensus estimate of $12.51 billion. During the same period in the previous year, the business earned $0.42 earnings per share. Cenovus Energy’s quarterly revenue was down 7.0% compared to the same quarter last year. Sell-side analysts expect that Cenovus Energy Inc will post 1.49 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Monday, December 15th. Cenovus Energy’s dividend payout ratio is presently 45.90%.

Analyst Upgrades and Downgrades

CVE has been the topic of several recent research reports. National Bank Financial upgraded Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 22nd. TD Securities reiterated a “buy” rating on shares of Cenovus Energy in a research note on Tuesday, September 30th. Raymond James Financial raised Cenovus Energy from an “outperform” rating to a “strong-buy” rating in a report on Thursday, October 9th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Cenovus Energy in a report on Tuesday, September 2nd. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Cenovus Energy in a research report on Thursday, November 20th. Four analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cenovus Energy has a consensus rating of “Buy” and a consensus price target of $25.67.

Cenovus Energy Profile

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.