Cubist Systematic Strategies LLC acquired a new position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 21,490 shares of the oil and gas company’s stock, valued at approximately $223,000.
A number of other hedge funds have also modified their holdings of the stock. Letko Brosseau & Associates Inc. grew its holdings in Cenovus Energy by 0.5% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 39,769,651 shares of the oil and gas company’s stock worth $412,677,000 after buying an additional 194,244 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Cenovus Energy by 43.5% in the 2nd quarter. CIBC Asset Management Inc now owns 12,727,218 shares of the oil and gas company’s stock worth $132,171,000 after buying an additional 3,856,743 shares in the last quarter. CIBC World Markets Inc. grew its holdings in Cenovus Energy by 5.0% in the 1st quarter. CIBC World Markets Inc. now owns 12,651,576 shares of the oil and gas company’s stock worth $108,044,000 after buying an additional 607,428 shares in the last quarter. Toronto Dominion Bank grew its holdings in Cenovus Energy by 101.7% in the 2nd quarter. Toronto Dominion Bank now owns 6,585,468 shares of the oil and gas company’s stock worth $68,253,000 after buying an additional 3,321,205 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Cenovus Energy by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,601,884 shares of the oil and gas company’s stock worth $39,300,000 after buying an additional 29,547 shares in the last quarter. 74.56% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE CVE opened at $10.09 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.17 and a quick ratio of 0.81. The firm has a market cap of $12.32 billion, a price-to-earnings ratio of -504.50 and a beta of 0.59. Cenovus Energy Inc has a 1 year low of $7.09 and a 1 year 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) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the business posted $0.36 earnings per share. Equities research analysts forecast that Cenovus Energy Inc will post -0.36 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were paid a dividend of $0.038 per share. This represents a $0.15 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Thursday, September 13th. Cenovus Energy’s payout ratio is currently -750.00%.
A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised Cenovus Energy from a “neutral” rating to an “overweight” rating in a report on Monday, September 10th. ValuEngine raised Cenovus Energy from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Macquarie raised Cenovus Energy from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 1st. Canaccord Genuity lowered Cenovus Energy from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. Finally, Tudor Pickering lowered Cenovus Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $14.08.
About Cenovus Energy
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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