Quantitative Investment Management LLC Acquires Shares of 57,016 Cenovus Energy Inc $CVE

Quantitative Investment Management LLC acquired a new stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 57,016 shares of the oil and gas company’s stock, valued at approximately $1,414,000.

Other large investors have also made changes to their positions in the company. TD Asset Management Inc lifted its holdings in Cenovus Energy by 3.6% during the fourth quarter. TD Asset Management Inc now owns 16,995,459 shares of the oil and gas company’s stock valued at $287,897,000 after purchasing an additional 595,518 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Cenovus Energy during the second quarter worth about $17,275,000. Beverly Hills Private Wealth LLC acquired a new position in shares of Cenovus Energy during the 2nd quarter worth about $2,678,000. Alberta Investment Management Corp acquired a new position in shares of Cenovus Energy during the 2nd quarter worth about $143,730,000. Finally, GQG Partners LLC purchased a new position in Cenovus Energy in the 2nd quarter valued at about $411,552,000. 51.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVE has been the topic of several research analyst reports. Scotiabank reiterated an “outperform” rating on shares of Cenovus Energy in a report on Thursday, July 30th. Morgan Stanley reissued an “overweight” rating on shares of Cenovus Energy in a report on Wednesday, August 19th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Cenovus Energy in a research report on Thursday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Cenovus Energy in a research note on Wednesday, May 13th. Finally, Wall Street Zen upgraded Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen 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 currently has an average rating of “Moderate Buy” and a consensus target price of $36.25.

Cenovus Energy Stock Performance

CVE opened at $32.17 on Tuesday. The firm has a market capitalization of $59.50 billion, a PE ratio of 12.37 and a beta of 0.34. Cenovus Energy Inc has a twelve month low of $15.63 and a twelve month high of $33.40. The firm’s 50-day moving average price is $28.53 and its 200 day moving average price is $26.98. The company has a current ratio of 1.63, a quick ratio of 1.04 and a debt-to-equity ratio of 0.25.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $1.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.11. Cenovus Energy had a net margin of 12.37% and a return on equity of 21.08%. The company had revenue of $14.59 billion during the quarter, compared to analysts’ expectations of $11.87 billion. During the same quarter in the prior year, the company earned $0.45 EPS. Cenovus Energy’s revenue was up 47.9% compared to the same quarter last year. As a group, sell-side analysts expect that Cenovus Energy Inc will post 3.2 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Cenovus Energy’s dividend payout ratio (DPR) is currently 24.62%.

Cenovus Energy Company Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.