International Assets Investment Management LLC Sells 19,123 Shares of Cenovus Energy Inc $CVE

International Assets Investment Management LLC lessened its holdings in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 29.3% in the 1st quarter, Holdings Channel reports. The firm owned 46,125 shares of the oil and gas company’s stock after selling 19,123 shares during the quarter. International Assets Investment Management LLC’s holdings in Cenovus Energy were worth $1,191,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Financial Management Professionals Inc. acquired a new stake in shares of Cenovus Energy in the fourth quarter worth about $25,000. Transamerica Financial Advisors LLC boosted its stake in shares of Cenovus Energy by 1,302.7% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 1,433 shares in the last quarter. NBC Securities Inc. increased its holdings in shares of Cenovus Energy by 961.5% during the 4th quarter. NBC Securities Inc. now owns 1,656 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 1,500 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Cenovus Energy in the 4th quarter valued at approximately $38,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Cenovus Energy by 74.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company’s stock valued at $44,000 after acquiring an additional 1,384 shares in the last quarter. 51.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVE has been the subject of a number of recent analyst reports. Wall Street Zen raised Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Royal Bank Of Canada lifted their price target on shares of Cenovus Energy from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Tuesday, May 19th. Zacks Research downgraded shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Weiss Ratings raised Cenovus Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Finally, UBS Group reaffirmed a “buy” rating on shares of Cenovus Energy in a report on Thursday, April 9th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $35.25.

Cenovus Energy Trading Down 0.1%

Shares of Cenovus Energy stock opened at $26.38 on Monday. Cenovus Energy Inc has a 52-week low of $13.90 and a 52-week high of $32.07. The firm has a market capitalization of $49.07 billion, a PE ratio of 14.49 and a beta of 0.34. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.57 and a quick ratio of 1.00. The company’s fifty day moving average price is $27.72 and its two-hundred day moving average price is $24.02.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. Cenovus Energy had a net margin of 9.53% and a return on equity of 15.29%. The company had revenue of $10.79 billion during the quarter, compared to the consensus estimate of $9.47 billion. During the same period last year, the firm earned $0.47 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts expect that Cenovus Energy Inc will post 3.02 EPS for the current year.

Cenovus Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.22 per share. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, June 15th. Cenovus Energy’s dividend payout ratio is 34.62%.

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.