Axa S.A. Buys 4,623 Shares of Cenovus Energy Inc. (NYSE:CVE)

Axa S.A. grew its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 14.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 36,051 shares of the oil and gas company’s stock after buying an additional 4,623 shares during the period. Axa S.A.’s holdings in Cenovus Energy were worth $709,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Point72 Europe London LLP boosted its stake in Cenovus Energy by 72.9% in the second quarter. Point72 Europe London LLP now owns 536,583 shares of the oil and gas company’s stock worth $10,542,000 after buying an additional 226,283 shares in the last quarter. Interval Partners LP bought a new position in shares of Cenovus Energy during the 2nd quarter valued at $1,265,000. Harmony Asset Management LLC purchased a new position in Cenovus Energy in the 2nd quarter worth $244,000. 1832 Asset Management L.P. lifted its stake in Cenovus Energy by 81.1% in the second quarter. 1832 Asset Management L.P. now owns 12,538,499 shares of the oil and gas company’s stock worth $246,507,000 after purchasing an additional 5,613,320 shares during the last quarter. Finally, King Luther Capital Management Corp purchased a new stake in Cenovus Energy during the second quarter valued at about $2,273,000. 51.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on CVE shares. StockNews.com downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a report on Monday. Scotiabank lowered their price objective on Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.67.

Cenovus Energy Stock Up 2.6 %

Shares of Cenovus Energy stock opened at $17.17 on Wednesday. The company’s fifty day simple moving average is $18.07 and its two-hundred day simple moving average is $19.38. Cenovus Energy Inc. has a 12-month low of $14.69 and a 12-month high of $21.90. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 0.25. The company has a market cap of $31.92 billion, a P/E ratio of 9.54 and a beta of 2.05.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.13). The company had revenue of $10.88 billion during the quarter, compared to the consensus estimate of $9.78 billion. Cenovus Energy had a return on equity of 16.61% and a net margin of 8.56%. Research analysts anticipate that Cenovus Energy Inc. will post 1.84 EPS for the current year.

Cenovus Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.132 per share. The ex-dividend date was Friday, September 13th. This represents a $0.53 annualized dividend and a dividend yield of 3.08%. Cenovus Energy’s dividend payout ratio is presently 29.44%.

Cenovus Energy Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.