Seaward Management Limited Partnership cut its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 56.5% during the second quarter, Holdings Channel reports. The institutional investor owned 30,715 shares of the oil and gas company’s stock after selling 39,958 shares during the period. Seaward Management Limited Partnership’s holdings in Cenovus Energy were worth $226,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in CVE. APG Asset Management N.V. increased its stake in shares of Cenovus Energy by 4.4% in the first quarter. APG Asset Management N.V. now owns 2,279,482 shares of the oil and gas company’s stock worth $25,724,000 after buying an additional 95,474 shares in the last quarter. Caymus Capital Partners L.P. increased its stake in Cenovus Energy by 0.5% in the first quarter. Caymus Capital Partners L.P. now owns 2,042,800 shares of the oil and gas company’s stock worth $23,084,000 after buying an additional 9,600 shares during the period. Alpha Omega Wealth Management LLC acquired a new stake in Cenovus Energy during the first quarter worth $973,000. Wells Fargo & Company MN increased its stake in Cenovus Energy by 16.1% in the first quarter. Wells Fargo & Company MN now owns 81,531 shares of the oil and gas company’s stock worth $921,000 after buying an additional 11,313 shares during the period. Finally, AMF Pensionsforsakring AB increased its stake in Cenovus Energy by 1.4% in the first quarter. AMF Pensionsforsakring AB now owns 1,026,623 shares of the oil and gas company’s stock worth $11,585,000 after buying an additional 14,380 shares during the period. Institutional investors own 55.90% of the company’s stock.

Cenovus Energy Inc (CVE) opened at 8.20 on Thursday. The company has a market capitalization of $10.08 billion, a P/E ratio of 3.46 and a beta of 0.57. Cenovus Energy Inc has a one year low of $6.76 and a one year high of $16.82. The company’s 50-day moving average is $7.59 and its 200 day moving average is $10.31.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.24. Cenovus Energy had a net margin of 17.89% and a return on equity of 3.20%. The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period last year, the business earned ($0.05) earnings per share. On average, equities analysts anticipate that Cenovus Energy Inc will post $0.37 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.039 per share. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a yield of 1.90%. The ex-dividend date is Thursday, September 14th. Cenovus Energy’s dividend payout ratio (DPR) is presently 8.33%.

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A number of analysts have recently weighed in on the stock. BidaskClub upgraded shares of Cenovus Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Zacks Investment Research downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. National Bank Financial assumed coverage on shares of Cenovus Energy in a report on Tuesday, June 27th. They issued a “sector perform” rating on the stock. Canaccord Genuity restated a “hold” rating and issued a $16.50 target price on shares of Cenovus Energy in a report on Wednesday, April 26th. Finally, Barclays PLC restated an “overweight” rating and issued a $22.00 target price (up from $15.00) on shares of Cenovus Energy in a report on Wednesday, July 12th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Cenovus Energy presently has an average rating of “Hold” and an average target price of $17.34.

About Cenovus Energy

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

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