Neville Rodie & Shaw Inc. Maintains Position in Cenovus Energy Inc (NYSE:CVE)

Paterniano Del Favero
Agosto 7, 2017

News articles about Cenovus Energy (NYSE:CVE) (TSE:CVE) have been trending somewhat positive this week, Accern Sentiment reports. The fund owned 1,026,623 shares of the oil and gas company's stock at the end of the second quarter. Institutional investors and hedge funds own 56.04% of the company's stock. FMR LLC increased its stake in shares of Cenovus Energy by 33.0% in the first quarter. Co now owns 472,349 shares of the oil and gas company's stock valued at $3,480,000 after buying an additional 31,849 shares in the last quarter. Beutel Goodman & Co Ltd. increased its stake in shares of Cenovus Energy by 5.0% in the first quarter. TD Asset Management Inc. now owns 43,148,765 shares of the oil and gas company's stock worth $317,627,000 after buying an additional 2,169,650 shares during the period. Allegis Investment Advisors LLC purchased a new position in Cenovus Energy during the first quarter worth about $135,000. Pzena Investment Management LLC now owns 22,078,963 shares of the oil and gas company's stock worth $162,722,000 after buying an additional 3,046,244 shares during the period. Acadian Asset Management LLC increased its position in Cenovus Energy by 51.6% in the first quarter. Over the last 90 days, insiders acquired 98,400 shares of company stock worth $1,231,504. Finally, Two Sigma Securities LLC purchased a new position in Cenovus Energy during the first quarter worth about $182,000.

Shares of Cenovus Energy (NYSE:CVE) opened at 8.32 on Wednesday. The stock had a trading volume of 3,492,106 shares. The company has a market capitalization of $10.22 billion, a P/E ratio of 5.42 and a beta of 0.57. The firm's 50-day moving average is $7.54 and its 200 day moving average is $10.52. Cenovus Energy has a 1-year low of $6.76 and a 1-year high of $16.82.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.27 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.03 by $0.24. The firm had revenue of $3.03 billion for the quarter, compared to analysts' expectations of $3.40 billion. Cenovus Energy had a return on equity of 3.20% and a net margin of 17.89%. During the same quarter in the previous year, the business posted ($0.05) EPS. On average, analysts forecast that Cenovus Energy will post $0.12 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a yield of 1.90%. Cenovus Energy's dividend payout ratio (DPR) is presently 8.33%.

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CVE has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Cenovus Energy from a "hold" rating to a "buy" rating and set a $8.25 price objective on the stock in a research note on Tuesday, July 25th. Scotiabank decreased their target price on Cenovus Energy from C$21.00 to C$20.00 and set an "outperform" rating for the company in a report on Tuesday, July 4th. Canaccord Genuity reissued a "hold" rating and issued a $16.50 price target on shares of Cenovus Energy in a research note on Wednesday, April 26th. BidaskClub lowered shares of Cenovus Energy from a "sell" rating to a "strong sell" rating in a research note on Thursday, June 22nd. Four analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. Cenovus Energy presently has an average rating of "Hold" and a consensus target price of $17.34.

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