American Research & Management Co. Has $253,000 Stake in Cenovus Energy Inc. (CVE)
American Research & Management Co. maintained its stake in Cenovus Energy Inc. (NYSE:CVE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,277 shares of the company’s stock at the end of the second quarter. American Research & Management Co.’s holdings in Cenovus Energy were worth $253,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Cenovus Energy by 2.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,375,384 shares of the company’s stock valued at $32,705,000 after buying an additional 64,502 shares during the period. Capital Fund Management S.A. acquired a new stake in Cenovus Energy during the second quarter valued at approximately $3,052,000. Cumberland Partners Ltd boosted its stake in Cenovus Energy by 4.4% in the second quarter. Cumberland Partners Ltd now owns 16,500 shares of the company’s stock valued at $227,000 after buying an additional 700 shares during the period. K.J. Harrison & Partners Inc boosted its stake in Cenovus Energy by 146.9% in the second quarter. K.J. Harrison & Partners Inc now owns 125,980 shares of the company’s stock valued at $1,731,000 after buying an additional 74,950 shares during the period. Finally, Bank of Montreal Can acquired a new stake in Cenovus Energy during the second quarter valued at approximately $289,644,000. 67.78% of the stock is currently owned by institutional investors.
Shares of Cenovus Energy Inc. (NYSE:CVE) traded up 0.97% during mid-day trading on Wednesday, reaching $15.61. The company had a trading volume of 1,612,051 shares. The company has a market capitalization of $13.01 billion, a price-to-earnings ratio of 22.30 and a beta of 0.81. The stock has a 50 day moving average of $14.44 and a 200-day moving average of $14.45. Cenovus Energy Inc. has a 52 week low of $9.10 and a 52 week high of $16.68.
Cenovus Energy (NYSE:CVE) last announced its earnings results on Thursday, July 28th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.09. Cenovus Energy had a negative return on equity of 7.35% and a net margin of 6.97%. During the same quarter last year, the company posted $0.18 EPS. On average, analysts expect that Cenovus Energy Inc. will post ($0.57) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were issued a $0.0378 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Tuesday, September 13th. Cenovus Energy’s dividend payout ratio is presently 20.83%.
Several equities research analysts recently commented on the company. Barclays PLC reaffirmed an “overweight” rating and set a $24.00 price objective on shares of Cenovus Energy in a research report on Monday, October 10th. Zacks Investment Research cut Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Nomura reissued a “hold” rating on shares of Cenovus Energy in a research report on Monday, September 26th. Bank of America Corp. started coverage on Cenovus Energy in a research report on Friday, August 19th. They issued a “neutral” rating and a $17.00 target price on the stock. Finally, TD Securities cut Cenovus Energy from a “buy” rating to a “hold” rating and set a $21.00 target price on the stock. in a research report on Wednesday, August 10th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $20.00.
About Cenovus Energy
Cenovus Energy Inc is a Canada-based integrated oil company. It is engaged in the business of developing, producing and marketing crude oil, natural gas liquids (NGLs) and natural gas. Its segments include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations. The Oil Sands segment includes the development and production of bitumen and natural gas in northeast Alberta.
Want to see what other hedge funds are holding CVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cenovus Energy Inc. (NYSE:CVE).
Receive News & Ratings for Cenovus Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.