Mawer Investment Management Ltd. reduced its stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 19.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,303,688 shares of the oil and gas company’s stock after selling 1,022,493 shares during the quarter. Mawer Investment Management Ltd. owned approximately 0.35% of Cenovus Energy worth $43,185,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Allegis Investment Advisors LLC increased its position in shares of Cenovus Energy by 16.9% during the 2nd quarter. Allegis Investment Advisors LLC now owns 13,933 shares of the oil and gas company’s stock valued at $103,000 after purchasing an additional 2,016 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Cenovus Energy during the 3rd quarter valued at $106,000. Cigna Investments Inc. New purchased a new stake in shares of Cenovus Energy during the 2nd quarter valued at $110,000. First Commonwealth Financial Corp PA purchased a new stake in shares of Cenovus Energy during the 2nd quarter valued at $114,000. Finally, Timber Hill LLC purchased a new stake in shares of Cenovus Energy during the 3rd quarter valued at $114,000. 56.84% of the stock is owned by hedge funds and other institutional investors.
Shares of Cenovus Energy Inc (NYSE CVE) traded up $0.20 during midday trading on Thursday, reaching $9.48. The company’s stock had a trading volume of 2,228,040 shares, compared to its average volume of 4,188,087. Cenovus Energy Inc has a fifty-two week low of $6.76 and a fifty-two week high of $16.82. The company has a current ratio of 1.41, a quick ratio of 1.10 and a debt-to-equity ratio of 0.62. The company has a market cap of $11,882.40, a P/E ratio of 13.81, a P/E/G ratio of 2.79 and a beta of 0.61.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.039 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.16 annualized dividend and a yield of 1.65%. Cenovus Energy’s dividend payout ratio is currently 8.08%.
Several brokerages have recently issued reports on CVE. Morgan Stanley set a $15.00 target price on Cenovus Energy and gave the company a “buy” rating in a research report on Friday, October 13th. Zacks Investment Research raised Cenovus Energy from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Thursday, October 19th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $15.00 target price on shares of Cenovus Energy in a research report on Monday, October 16th. Canaccord Genuity reissued a “buy” rating and issued a $14.50 price objective on shares of Cenovus Energy in a report on Monday, September 25th. Finally, BidaskClub lowered Cenovus Energy from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. Cenovus Energy has an average rating of “Hold” and an average price target of $16.06.
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Cenovus Energy Company Profile
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