Cenovus Energy Inc. (CVE) Shares Sold by Seaward Management Limited Partnership
Seaward Management Limited Partnership reduced its stake in shares of Cenovus Energy Inc. (NYSE:CVE) by 2.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,223 shares of the company’s stock after selling 1,875 shares during the period. Seaward Management Limited Partnership’s holdings in Cenovus Energy were worth $1,136,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of CVE. M&T Bank Corp increased its stake in shares of Cenovus Energy by 4.8% in the first quarter. M&T Bank Corp now owns 12,881 shares of the company’s stock valued at $168,000 after buying an additional 589 shares in the last quarter. Shell Asset Management Co. boosted its position in shares of Cenovus Energy by 2.3% in the second quarter. Shell Asset Management Co. now owns 130,032 shares of the company’s stock valued at $2,324,000 after buying an additional 2,969 shares during the last quarter. British Columbia Investment Management Corp boosted its position in shares of Cenovus Energy by 3.7% in the second quarter. British Columbia Investment Management Corp now owns 127,500 shares of the company’s stock valued at $1,357,000 after buying an additional 4,500 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Cenovus Energy by 0.3% in the first quarter. UBS Asset Management Americas Inc. now owns 1,867,617 shares of the company’s stock valued at $24,402,000 after buying an additional 5,137 shares during the last quarter. Finally, Nexus Investment Management Inc. boosted its position in shares of Cenovus Energy by 1.7% in the second quarter. Nexus Investment Management Inc. now owns 449,665 shares of the company’s stock valued at $6,177,000 after buying an additional 7,450 shares during the last quarter. Institutional investors own 67.80% of the company’s stock.
Cenovus Energy Inc. (NYSE:CVE) traded up 2.94% on Wednesday, reaching $13.66. 1,400,891 shares of the company were exchanged. Cenovus Energy Inc. has a 12-month low of $9.10 and a 12-month high of $17.23. The firm has a market capitalization of $11.38 billion, a P/E ratio of 19.43 and a beta of 0.90. The firm has a 50-day moving average of $14.60 and a 200 day moving average of $14.23.
Cenovus Energy (NYSE:CVE) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.09. Cenovus Energy had a net margin of 6.97% and a negative return on equity of 7.35%. During the same quarter in the prior year, the business earned $0.18 EPS. On average, equities analysts predict that Cenovus Energy Inc. will post ($0.59) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a $0.0378 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.15 annualized dividend and a yield of 1.11%. Cenovus Energy’s payout ratio is presently 20.83%.
Several equities analysts recently weighed in on CVE shares. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating on shares of Cenovus Energy in a research report on Wednesday, June 8th. Morgan Stanley raised shares of Cenovus Energy from an “equal weight” rating to an “overweight” rating in a research report on Monday, June 13th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $23.00 price target on shares of Cenovus Energy in a research report on Tuesday, June 21st. Zacks Investment Research raised shares of Cenovus Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Cenovus Energy in a research report on Sunday, July 10th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Cenovus Energy has an average rating of “Buy” and a consensus target price of $20.00.
Cenovus Energy Company Profile
Cenovus Energy Inc (Cenovus) is an integrated oil company. The Company is engaged in the business of developing, producing and marketing crude oil, natural gas liquids (NGLs) and natural gas in Canada with marketing activities and refining operations in the United States. The Company’s segments include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations.
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