Citigroup Inc. Trims Stake in Cenovus Energy Inc (CVE)
Citigroup Inc. cut its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 36.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,474 shares of the oil and gas company’s stock after selling 70,398 shares during the period. Citigroup Inc.’s holdings in Cenovus Energy were worth $908,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of CVE. Wells Fargo & Company MN grew its stake in shares of Cenovus Energy by 16.1% in the 1st 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 during the period. First Trust Advisors LP grew its stake in shares of Cenovus Energy by 17.8% in the 1st 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. UBS Asset Management Americas Inc. grew its stake in shares of Cenovus Energy by 2.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 2,208,908 shares of the oil and gas company’s stock valued at $24,927,000 after buying an additional 49,076 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Cenovus Energy by 21.8% in the 1st quarter. Ameriprise Financial Inc. now owns 117,706 shares of the oil and gas company’s stock valued at $1,326,000 after buying an additional 21,046 shares during the period. Finally, Parametric Portfolio Associates LLC grew its stake in shares of Cenovus Energy by 26.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 159,190 shares of the oil and gas company’s stock valued at $1,799,000 after buying an additional 33,779 shares during the period. Institutional investors own 56.17% of the company’s stock.
Cenovus Energy Inc (NYSE:CVE) opened at 9.61 on Friday. The firm’s 50 day moving average is $8.83 and its 200 day moving average is $9.00. Cenovus Energy Inc has a 52-week low of $6.76 and a 52-week high of $16.82. The company has a market cap of $11.81 billion, a PE ratio of 3.92 and a beta of 0.60.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.27 EPS for the quarter, beating 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 firm had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the prior year, the company posted ($0.05) earnings per share. Analysts forecast that Cenovus Energy Inc will post $0.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a dividend of $0.039 per share. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.04. The ex-dividend date was Thursday, September 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.62%. Cenovus Energy’s dividend payout ratio is presently 8.89%.
Several analysts have recently commented on the company. Canaccord Genuity restated a “buy” rating and issued a $14.50 target price on shares of Cenovus Energy in a research note on Monday, September 25th. BidaskClub downgraded Cenovus Energy from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. ValuEngine upgraded Cenovus Energy from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Zacks Investment Research downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Finally, Morgan Stanley downgraded Cenovus Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 19th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $17.11.
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Cenovus Energy Company Profile
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