Virginia Retirement Systems ET AL reduced its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 14.7% in the second quarter, Holdings Channel reports. The fund owned 87,900 shares of the oil and gas company’s stock after selling 15,200 shares during the period. Virginia Retirement Systems ET AL’s holdings in Cenovus Energy were worth $912,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CVE. D.A. Davidson & CO. lifted its stake in shares of Cenovus Energy by 10.0% during the 2nd quarter. D.A. Davidson & CO. now owns 66,107 shares of the oil and gas company’s stock valued at $686,000 after buying an additional 6,001 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Cenovus Energy by 6.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,189,575 shares of the oil and gas company’s stock valued at $33,121,000 after buying an additional 182,893 shares in the last quarter. Aperio Group LLC raised its position in shares of Cenovus Energy by 19.3% during the 2nd quarter. Aperio Group LLC now owns 263,271 shares of the oil and gas company’s stock valued at $2,733,000 after buying an additional 42,544 shares in the last quarter. Atlas Capital Advisors LLC purchased a new stake in shares of Cenovus Energy during the 2nd quarter valued at about $235,000. Finally, Main Street Research LLC purchased a new stake in shares of Cenovus Energy during the 2nd quarter valued at about $259,000. Institutional investors own 74.38% of the company’s stock.

Several analysts have recently issued reports on the stock. Canaccord Genuity cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Tudor Pickering cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Macquarie upgraded shares of Cenovus Energy from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 1st. ValuEngine upgraded shares of Cenovus Energy from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Finally, National Bank Financial upgraded shares of Cenovus Energy from a “sector perform overweight” rating to an “outperform overweight” rating in a research report on Thursday, May 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $14.08.

Shares of NYSE CVE opened at $9.22 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.81 and a current ratio of 1.17. The stock has a market cap of $11.24 billion, a PE ratio of -461.00 and a beta of 0.66. Cenovus Energy Inc has a 12-month low of $7.09 and a 12-month high of $11.52.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, July 26th. The oil and gas company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.21). The firm had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.25 billion. Cenovus Energy had a negative net margin of 2.56% and a negative return on equity of 6.66%. During the same quarter in the previous year, the company posted $0.36 earnings per share. sell-side analysts expect that Cenovus Energy Inc will post -0.31 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a dividend of $0.038 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.15 annualized dividend and a yield of 1.65%. Cenovus Energy’s payout ratio is -750.00%.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.

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

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