Montgomery Investment Management Inc. cut its stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 14.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,279 shares of the oil and gas company’s stock after selling 15,667 shares during the period. Montgomery Investment Management Inc.’s holdings in Cenovus Energy were worth $665,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CVE. Airain ltd bought a new stake in Cenovus Energy during the first quarter worth approximately $224,000. TradeLink Capital LLC acquired a new stake in shares of Cenovus Energy during the first quarter worth about $497,000. Segantii Capital Management Ltd acquired a new stake in shares of Cenovus Energy during the first quarter worth about $56,319,000. British Columbia Investment Management Corp raised its stake in shares of Cenovus Energy by 23.7% in the first quarter. British Columbia Investment Management Corp now owns 157,700 shares of the oil and gas company’s stock worth $1,336,000 after buying an additional 30,200 shares during the last quarter. Finally, Highstreet Asset Management Inc. raised its stake in shares of Cenovus Energy by 2.3% in the first quarter. Highstreet Asset Management Inc. now owns 35,282 shares of the oil and gas company’s stock worth $399,000 after buying an additional 782 shares during the last quarter. 55.90% of the stock is owned by institutional investors and hedge funds.

Shares of Cenovus Energy Inc (NYSE CVE) opened at 8.32 on Wednesday. Cenovus Energy Inc has a 1-year low of $6.76 and a 1-year high of $16.82. The firm has a market cap of $10.22 billion, a P/E ratio of 3.52 and a beta of 0.57. The firm has a 50 day moving average price of $7.53 and a 200 day moving average price of $10.47.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the prior year, the firm posted ($0.05) EPS. Analysts anticipate that Cenovus Energy Inc will post $0.37 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.039 dividend. The ex-dividend date is Thursday, September 14th. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a yield of 1.88%. Cenovus Energy’s dividend payout ratio is currently 8.33%.

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A number of research firms have recently commented on CVE. BidaskClub upgraded Cenovus Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Zacks Investment Research lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. National Bank Financial started coverage on Cenovus Energy in a research report on Tuesday, June 27th. They issued a “sector perform” rating for the company. Canaccord Genuity reiterated a “hold” rating and issued a $16.50 target price on shares of Cenovus Energy in a research report on Wednesday, April 26th. Finally, Barclays PLC restated an “overweight” rating and set a $22.00 price objective (up previously from $15.00) on shares of Cenovus Energy in a research report on Wednesday, July 12th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $17.34.

Cenovus Energy Company Profile

Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

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