Quantitative Investment Management LLC Takes Position in Cenovus Energy Inc (CVE)
Quantitative Investment Management LLC acquired a new position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,904,600 shares of the oil and gas company’s stock, valued at approximately $14,036,000. Quantitative Investment Management LLC owned 0.15% of Cenovus Energy at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of CVE. Allegis Investment Advisors LLC increased its position in shares of Cenovus Energy by 16.9% during the second quarter. Allegis Investment Advisors LLC now owns 13,933 shares of the oil and gas company’s stock worth $103,000 after acquiring an additional 2,016 shares during the period. Cigna Investments Inc. New purchased a new stake in shares of Cenovus Energy during the second quarter worth $110,000. FNY Partners Fund LP purchased a new stake in shares of Cenovus Energy during the first quarter worth $113,000. Neuberger Berman Group LLC increased its position in shares of Cenovus Energy by 7.4% during the first quarter. Neuberger Berman Group LLC now owns 12,992 shares of the oil and gas company’s stock worth $147,000 after acquiring an additional 900 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of Cenovus Energy by 51.6% during the first quarter. Acadian Asset Management LLC now owns 13,800 shares of the oil and gas company’s stock worth $156,000 after acquiring an additional 4,700 shares during the period. 56.17% of the stock is currently owned by institutional investors and hedge funds.
Cenovus Energy Inc (CVE) traded up 1.92% during trading on Wednesday, reaching $9.54. 681,622 shares of the company’s stock traded hands. Cenovus Energy Inc has a 1-year low of $6.76 and a 1-year high of $16.82. The stock has a market capitalization of $11.72 billion, a P/E ratio of 4.01 and a beta of 0.56. The stock has a 50-day moving average price of $8.07 and a 200 day moving average price of $9.17.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its earnings results on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.24. The company had revenue of $3.03 billion during 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 in the previous year, the firm earned ($0.05) EPS. Equities research analysts expect that Cenovus Energy Inc will post $0.40 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a $0.039 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.16 annualized dividend and a dividend yield of 1.67%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s payout ratio is presently 8.89%.
CVE has been the subject of a number of analyst reports. Canaccord Genuity reiterated a “buy” rating and set a $14.00 target price on shares of Cenovus Energy in a research note on Tuesday, September 5th. BidaskClub downgraded shares of Cenovus Energy from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. ValuEngine upgraded shares of Cenovus Energy from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Zacks Investment Research downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Finally, Morgan Stanley downgraded shares of Cenovus Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 19th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $17.04.
About Cenovus Energy
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