Two Sigma Securities LLC Has $718,000 Stock Position in Cenovus Energy Inc $CVE

Two Sigma Securities LLC lessened its holdings in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 51.6% in the second quarter, HoldingsChannel reports. The fund owned 28,926 shares of the oil and gas company’s stock after selling 30,781 shares during the period. Two Sigma Securities LLC’s holdings in Cenovus Energy were worth $718,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. J.W. Cole Advisors Inc. raised its stake in Cenovus Energy by 3.9% in the 4th quarter. J.W. Cole Advisors Inc. now owns 13,407 shares of the oil and gas company’s stock worth $227,000 after purchasing an additional 500 shares in the last quarter. Gateway Investment Advisers LLC boosted its holdings in Cenovus Energy by 0.6% in the 4th quarter. Gateway Investment Advisers LLC now owns 93,986 shares of the oil and gas company’s stock valued at $1,590,000 after purchasing an additional 523 shares during the period. International Assets Investment Management LLC grew its position in shares of Cenovus Energy by 0.9% during the 4th quarter. International Assets Investment Management LLC now owns 65,248 shares of the oil and gas company’s stock worth $1,104,000 after purchasing an additional 565 shares in the last quarter. OLD National Bancorp IN grew its position in shares of Cenovus Energy by 5.2% during the 1st quarter. OLD National Bancorp IN now owns 12,597 shares of the oil and gas company’s stock worth $334,000 after purchasing an additional 618 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Cenovus Energy by 24.4% during the fourth quarter. Farther Finance Advisors LLC now owns 3,307 shares of the oil and gas company’s stock worth $56,000 after purchasing an additional 649 shares during the period. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CVE shares. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Cenovus Energy in a research note on Thursday, August 27th. Zacks Research lowered Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Royal Bank Of Canada lifted their price objective on Cenovus Energy from $47.00 to $51.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Cenovus Energy in a research report on Wednesday, May 13th. Finally, Lake Street Capital set a $36.00 target price on Cenovus Energy in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cenovus Energy currently has a consensus rating of “Moderate Buy” and an average target price of $36.25.

Cenovus Energy Stock Up 3.1%

CVE stock opened at $33.16 on Wednesday. The firm has a 50-day moving average price of $28.68 and a 200-day moving average price of $27.06. Cenovus Energy Inc has a 12 month low of $15.63 and a 12 month high of $33.40. The company has a current ratio of 1.63, a quick ratio of 1.04 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $61.33 billion, a P/E ratio of 12.75 and a beta of 0.35.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $1.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.11. The company had revenue of $14.59 billion for the quarter, compared to analyst estimates of $11.87 billion. Cenovus Energy had a net margin of 12.37% and a return on equity of 21.08%. The firm’s revenue was up 47.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 EPS. As a group, equities research analysts anticipate that Cenovus Energy Inc will post 3.2 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Cenovus Energy’s payout ratio is presently 24.62%.

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.