Cenovus Energy Inc. (NYSE:CVE) Shares Acquired by Creative Planning

Creative Planning increased its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 8.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 292,758 shares of the oil and gas company’s stock after purchasing an additional 21,991 shares during the period. Creative Planning’s holdings in Cenovus Energy were worth $5,756,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Capital International Investors raised its stake in Cenovus Energy by 1,779.0% during the 4th quarter. Capital International Investors now owns 10,725,418 shares of the oil and gas company’s stock valued at $178,723,000 after acquiring an additional 10,154,618 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Cenovus Energy by 5.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 76,811 shares of the oil and gas company’s stock worth $1,279,000 after purchasing an additional 4,123 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Cenovus Energy during the fourth quarter worth $495,000. Balyasny Asset Management L.P. grew its position in Cenovus Energy by 1,224.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 4,097,451 shares of the oil and gas company’s stock valued at $68,231,000 after buying an additional 3,787,979 shares during the last quarter. Finally, Symmetry Investments LP acquired a new position in Cenovus Energy in the 4th quarter valued at $924,000. 51.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CVE. StockNews.com downgraded shares of 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 on the stock in a report on Friday, July 12th. Finally, TD Securities downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.67.

Cenovus Energy Stock Performance

NYSE CVE opened at $17.84 on Friday. The business has a 50 day moving average price of $18.03 and a 200 day moving average price of $19.36. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 1.00. The company has a market capitalization of $33.17 billion, a P/E ratio of 9.91 and a beta of 2.05. Cenovus Energy Inc. has a 1-year low of $14.69 and a 1-year high of $21.90.

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

Cenovus Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.132 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.53 annualized dividend and a dividend yield of 2.96%. 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.