Bank of America Corp DE raised its stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 81.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,125,627 shares of the oil and gas company’s stock after buying an additional 952,915 shares during the period. Bank of America Corp DE owned about 0.26% of Cenovus Energy worth $24,019,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVE. Oppenheimer Asset Management Inc. purchased a new stake in shares of Cenovus Energy during the first quarter worth $258,000. MAVEN SECURITIES Ltd acquired a new position in shares of Cenovus Energy during the first quarter valued at about $417,000. Renaissance Technologies LLC boosted its position in shares of Cenovus Energy by 35.8% in the first quarter. Renaissance Technologies LLC now owns 1,004,300 shares of the oil and gas company’s stock valued at $11,349,000 after buying an additional 264,500 shares during the period. Morgan Stanley boosted its position in shares of Cenovus Energy by 66.9% in the first quarter. Morgan Stanley now owns 3,182,202 shares of the oil and gas company’s stock valued at $35,959,000 after buying an additional 1,275,464 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Cenovus Energy by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,895,092 shares of the oil and gas company’s stock valued at $44,015,000 after buying an additional 86,775 shares during the period. Institutional investors own 56.87% of the company’s stock.
Cenovus Energy Inc (CVE) traded up 1.161% on Monday, hitting $7.405. The stock had a trading volume of 319,606 shares. The company has a 50-day moving average of $8.48 and a 200 day moving average of $11.79. The company’s market cap is $6.17 billion. Cenovus Energy Inc has a 12 month low of $6.76 and a 12 month high of $16.82.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Wednesday, April 26th. The oil and gas company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.06. Cenovus Energy had a positive return on equity of 0.03% and a negative net margin of 1.64%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same quarter in the prior year, the firm earned ($0.51) EPS. On average, analysts predict that Cenovus Energy Inc will post $0.17 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were issued a $0.0371 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Tuesday, June 13th. Cenovus Energy’s dividend payout ratio (DPR) is -71.43%.
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CVE has been the subject of several recent analyst reports. Credit Suisse Group reiterated an “outperform” rating on shares of Cenovus Energy in a research report on Friday, May 26th. TD Securities upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a report on Friday, March 24th. Canaccord Genuity reiterated a “hold” rating and issued a $16.50 target price on shares of Cenovus Energy in a report on Wednesday, April 26th. Zacks Investment Research downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Monday, May 1st. Finally, ValuEngine downgraded shares of Cenovus Energy from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Six equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. Cenovus Energy presently has an average rating of “Hold” and a consensus price target of $18.75.
Cenovus Energy Company Profile
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