Shell Asset Management Co. maintained its stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,790 shares of the oil and gas company’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Cenovus Energy were worth $791,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. First Trust Advisors LP raised its stake in shares of Cenovus Energy by 17.8% in the first quarter. First Trust Advisors LP now owns 43,183 shares of the oil and gas company’s stock valued at $488,000 after buying an additional 6,521 shares in the last quarter. APG Asset Management N.V. raised its stake in shares of Cenovus Energy by 4.4% in the first quarter. APG Asset Management N.V. now owns 2,279,482 shares of the oil and gas company’s stock valued at $25,724,000 after buying an additional 95,474 shares in the last quarter. Caymus Capital Partners L.P. raised its stake in shares of Cenovus Energy by 0.5% in the first quarter. Caymus Capital Partners L.P. now owns 2,042,800 shares of the oil and gas company’s stock valued at $23,084,000 after buying an additional 9,600 shares in the last quarter. Alpha Omega Wealth Management LLC bought a new stake in shares of Cenovus Energy during the first quarter valued at approximately $973,000. Finally, Wells Fargo & Company MN raised its stake in shares of Cenovus Energy by 16.1% in the first quarter. Wells Fargo & Company MN now owns 81,531 shares of the oil and gas company’s stock valued at $921,000 after buying an additional 11,313 shares in the last quarter. 55.90% of the stock is currently owned by institutional investors and hedge funds.

Shares of Cenovus Energy Inc (CVE) opened at 7.98 on Friday. Cenovus Energy Inc has a 12-month low of $6.76 and a 12-month high of $16.82. The company’s 50-day moving average is $7.62 and its 200-day moving average is $10.29. The company has a market cap of $9.81 billion, a price-to-earnings ratio of 3.36 and a beta of 0.57.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.24. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.40 billion. Cenovus Energy had a net margin of 17.89% and a return on equity of 3.20%. During the same quarter last year, the firm posted ($0.05) earnings per share. Equities research analysts predict that Cenovus Energy Inc will post $0.37 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.039 dividend. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. The ex-dividend date is Thursday, September 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.95%. Cenovus Energy’s dividend payout ratio (DPR) is presently 8.33%.

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Several analysts have commented on the stock. Canaccord Genuity reaffirmed a “hold” rating and issued a $16.50 price objective on shares of Cenovus Energy in a research report on Wednesday, April 26th. Zacks Investment Research lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. Credit Suisse Group reaffirmed an “outperform” rating on shares of Cenovus Energy in a research report on Friday, May 26th. ValuEngine lowered shares of Cenovus Energy from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, BidaskClub raised shares of Cenovus Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $17.34.

About Cenovus Energy

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

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