Truist Financial Corp Boosts Holdings in Cenovus Energy Inc. (NYSE:CVE)

Truist Financial Corp boosted its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 5.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 82,313 shares of the oil and gas company’s stock after purchasing an additional 4,208 shares during the quarter. Truist Financial Corp’s holdings in Cenovus Energy were worth $1,618,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cenovus Energy by 8.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company’s stock valued at $170,000 after buying an additional 643 shares during the last quarter. Creative Planning increased its holdings in shares of Cenovus Energy by 8.1% in the 2nd quarter. Creative Planning now owns 292,758 shares of the oil and gas company’s stock worth $5,756,000 after purchasing an additional 21,991 shares in the last quarter. SkyView Investment Advisors LLC raised its stake in shares of Cenovus Energy by 13.2% in the second quarter. SkyView Investment Advisors LLC now owns 41,510 shares of the oil and gas company’s stock worth $816,000 after purchasing an additional 4,830 shares during the last quarter. Ninepoint Partners LP lifted its holdings in shares of Cenovus Energy by 19.0% during the second quarter. Ninepoint Partners LP now owns 7,500,000 shares of the oil and gas company’s stock valued at $147,450,000 after purchasing an additional 1,200,000 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Cenovus Energy by 5.3% during the second quarter. Mackenzie Financial Corp now owns 11,186,227 shares of the oil and gas company’s stock valued at $219,897,000 after buying an additional 562,663 shares during the last quarter. 51.19% of the stock is currently owned by institutional investors.

Cenovus Energy Trading Down 0.1 %

Shares of Cenovus Energy stock opened at $17.85 on Friday. Cenovus Energy Inc. has a 1-year low of $14.69 and a 1-year high of $21.90. The company’s fifty day simple moving average is $17.83 and its 200-day simple moving average is $19.29. 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 stock has a market capitalization of $32.78 billion, a PE ratio of 9.59 and a beta of 2.04.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released 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). The company had revenue of $10.88 billion for the quarter, compared to analysts’ expectations of $9.78 billion. Cenovus Energy had a net margin of 8.56% and a return on equity of 16.61%. As a group, equities analysts anticipate that Cenovus Energy Inc. will post 1.84 earnings per share for the current year.

Cenovus Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.132 dividend. This represents a $0.53 annualized dividend and a yield of 2.96%. The ex-dividend date was Friday, September 13th. Cenovus Energy’s dividend payout ratio is 28.49%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Scotiabank decreased their target price 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. BMO Capital Markets dropped their target price on shares of Cenovus Energy from $33.00 to $31.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. TD Securities downgraded shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cenovus Energy has an average rating of “Moderate Buy” and a consensus target price of $30.75.

About Cenovus Energy

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.