Montgomery Investment Management Inc. decreased its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 14.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 90,279 shares of the oil and gas company’s stock after selling 15,667 shares during the period. Montgomery Investment Management Inc.’s holdings in Cenovus Energy were worth $665,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. FNY Partners Fund LP purchased a new position in shares of Cenovus Energy during the first quarter valued at about $113,000. Allegis Investment Advisors LLC purchased a new position in shares of Cenovus Energy during the first quarter valued at about $135,000. Neuberger Berman Group LLC boosted its position in shares of Cenovus Energy by 7.4% in the first quarter. Neuberger Berman Group LLC now owns 12,992 shares of the oil and gas company’s stock valued at $147,000 after buying an additional 900 shares during the period. Acadian Asset Management LLC boosted its position in shares of Cenovus Energy by 51.6% in the first quarter. Acadian Asset Management LLC now owns 13,800 shares of the oil and gas company’s stock valued at $156,000 after buying an additional 4,700 shares during the period. Finally, Two Sigma Securities LLC purchased a new position in shares of Cenovus Energy during the first quarter valued at about $182,000. 55.77% of the stock is owned by institutional investors and hedge funds.
Cenovus Energy Inc (NYSE CVE) traded up 0.67% on Friday, reaching $7.50. 4,377,951 shares of the company’s stock were exchanged. Cenovus Energy Inc has a one year low of $6.76 and a one year high of $16.82. The firm has a market cap of $9.22 billion, a PE ratio of 3.20 and a beta of 0.57. The firm has a 50 day moving average price of $7.71 and a 200 day moving average price of $10.01.
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, topping the 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 business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the previous year, the firm earned ($0.05) EPS. On average, equities analysts anticipate that Cenovus Energy Inc will post $0.37 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.039 dividend. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, September 14th. Cenovus Energy’s payout ratio is 8.33%.
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CVE has been the subject of a number of research analyst reports. Canaccord Genuity upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Zacks Investment Research upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating and set a $8.25 price target for the company in a research note on Tuesday, July 25th. Morgan Stanley lowered shares of Cenovus Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 19th. ValuEngine upgraded shares of Cenovus Energy from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $8.00 target price on shares of Cenovus Energy in a research report on Thursday, June 22nd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $17.34.
Cenovus Energy Company Profile
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