Cenovus Energy Inc $CVE Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 10.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 467,384 shares of the oil and gas company’s stock after selling 55,311 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Cenovus Energy were worth $12,365,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Management Professionals Inc. bought a new position in Cenovus Energy during the 4th quarter worth approximately $25,000. Transamerica Financial Advisors LLC increased its holdings in shares of Cenovus Energy by 1,302.7% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 1,433 shares during the last quarter. NBC Securities Inc. increased its holdings in shares of Cenovus Energy by 961.5% in the 4th quarter. NBC Securities Inc. now owns 1,656 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 1,500 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Cenovus Energy during the 4th quarter valued at approximately $38,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Cenovus Energy by 74.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company’s stock valued at $44,000 after acquiring an additional 1,384 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Trading Up 0.6%

Shares of NYSE CVE opened at $24.64 on Friday. Cenovus Energy Inc has a 12-month low of $13.85 and a 12-month high of $32.07. The company has a market cap of $45.85 billion, a price-to-earnings ratio of 13.54 and a beta of 0.34. The company has a current ratio of 1.57, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The stock’s 50 day simple moving average is $27.89 and its 200 day simple moving average is $23.66.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. Cenovus Energy had a return on equity of 15.29% and a net margin of 9.53%.The firm had revenue of $10.79 billion during the quarter, compared to the consensus estimate of $9.47 billion. During the same period in the prior year, the business earned $0.47 EPS. The firm’s revenue was up 1.0% on a year-over-year basis. Equities research analysts expect that Cenovus Energy Inc will post 3.02 EPS for the current year.

Cenovus Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.22 per share. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, June 15th. Cenovus Energy’s payout ratio is currently 34.62%.

Analyst Upgrades and Downgrades

CVE has been the topic of several research analyst reports. Raymond James Financial cut Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, May 6th. Zacks Research cut shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Veritas upgraded shares of Cenovus Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Cenovus Energy in a report on Wednesday, May 13th. Finally, Weiss Ratings lowered shares of Cenovus Energy from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.25.

Cenovus Energy Company Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.