Candriam Luxembourg S.C.A. lowered its stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 32.3% during the second quarter, Holdings Channel reports. The firm owned 15,141 shares of the oil and gas company’s stock after selling 7,220 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Cenovus Energy were worth $111,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Princeton Alpha Management LP raised its position in Cenovus Energy by 26.2% in the first quarter. Princeton Alpha Management LP now owns 25,850 shares of the oil and gas company’s stock valued at $292,000 after buying an additional 5,374 shares during the period. Capital Fund Management S.A. bought a new position in Cenovus Energy during the first quarter valued at approximately $5,857,000. First Trust Advisors LP raised its position in 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 during the period. APG Asset Management N.V. raised its position in 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 during the period. Finally, Caymus Capital Partners L.P. raised its position in 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 during the period. 55.77% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cenovus Energy Inc (NYSE:CVE) opened at 7.53 on Thursday. The stock has a market capitalization of $9.25 billion, a P/E ratio of 3.17 and a beta of 0.57. Cenovus Energy Inc has a 12-month low of $6.76 and a 12-month high of $16.82. The firm’s 50-day moving average price is $7.70 and its 200 day moving average price is $10.08.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.039 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.07%. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.04. The ex-dividend date is Thursday, September 14th. Cenovus Energy’s dividend payout ratio (DPR) is currently 8.33%.

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

About Cenovus Energy

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

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