Tobam bought a new stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 42,000 shares of the oil and gas company’s stock, valued at approximately $309,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its stake in Cenovus Energy by 33.0% in the first quarter. FMR LLC now owns 43,684,595 shares of the oil and gas company’s stock valued at $494,381,000 after buying an additional 10,833,896 shares during the last quarter. TD Asset Management Inc. raised its stake in Cenovus Energy by 5.3% in the second quarter. TD Asset Management Inc. now owns 43,148,765 shares of the oil and gas company’s stock valued at $317,627,000 after buying an additional 2,169,650 shares during the last quarter. First Eagle Investment Management LLC raised its stake in Cenovus Energy by 1.4% in the second quarter. First Eagle Investment Management LLC now owns 32,113,640 shares of the oil and gas company’s stock valued at $236,678,000 after buying an additional 437,897 shares during the last quarter. Pzena Investment Management LLC raised its stake in Cenovus Energy by 16.0% in the second quarter. Pzena Investment Management LLC now owns 22,078,963 shares of the oil and gas company’s stock valued at $162,722,000 after buying an additional 3,046,244 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Cenovus Energy by 15.0% in the first quarter. Vanguard Group Inc. now owns 21,086,825 shares of the oil and gas company’s stock valued at $238,282,000 after buying an additional 2,752,826 shares during the last quarter. Institutional investors and hedge funds own 56.17% of the company’s stock.

Shares of Cenovus Energy Inc (NYSE:CVE) opened at 7.38 on Tuesday. The company’s 50-day moving average price is $7.72 and its 200-day moving average price is $9.80. Cenovus Energy Inc has a 12 month low of $6.76 and a 12 month high of $16.82. The firm has a market cap of $9.07 billion, a P/E ratio of 3.15 and a beta of 0.57.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.24. Cenovus Energy had a net margin of 17.89% and a return on equity of 3.20%. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period last year, the company posted ($0.05) EPS. On average, analysts predict that Cenovus Energy Inc will post $0.35 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.039 dividend. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, September 14th. Cenovus Energy’s dividend payout ratio (DPR) is presently 8.33%.

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CVE has been the topic of several analyst reports. BidaskClub lowered Cenovus Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. UBS AG lowered Cenovus Energy from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 5th. Credit Suisse Group restated an “outperform” rating on shares of Cenovus Energy in a research note on Friday, May 26th. Raymond James Financial, Inc. lowered Cenovus Energy from a “market perform” rating to an “underperform” rating in a research note on Wednesday, July 5th. Finally, ValuEngine upgraded Cenovus Energy from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $17.39.

About Cenovus Energy

Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

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