Franklin Resources Inc. trimmed its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 0.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,686,946 shares of the oil and gas company’s stock after selling 23,517 shares during the quarter. Franklin Resources Inc. owned 0.87% of Cenovus Energy worth $97,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Jefferies Group LLC purchased a new position in Cenovus Energy during the 4th quarter worth $776,000. Folger Hill Asset Management LP boosted its holdings in Cenovus Energy by 22.2% during the 4th quarter. Folger Hill Asset Management LP now owns 275,000 shares of the oil and gas company’s stock worth $2,510,000 after acquiring an additional 50,000 shares during the last quarter. AMP Capital Investors Ltd boosted its holdings in shares of Cenovus Energy by 90.7% in the 4th quarter. AMP Capital Investors Ltd now owns 530,429 shares of the oil and gas company’s stock worth $4,860,000 after buying an additional 252,263 shares during the last quarter. MANA Advisors LLC purchased a new position in shares of Cenovus Energy in the 4th quarter worth about $294,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Cenovus Energy by 30.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,473,800 shares of the oil and gas company’s stock worth $22,608,000 after buying an additional 574,500 shares during the last quarter. 74.40% of the stock is currently owned by hedge funds and other institutional investors.
CVE has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Cenovus Energy from a “hold” rating to a “sell” rating in a report on Monday, January 8th. Desjardins reissued a “hold” rating on shares of Cenovus Energy in a report on Friday, January 12th. ValuEngine downgraded shares of Cenovus Energy from a “hold” rating to a “sell” rating in a report on Saturday, February 17th. AltaCorp Capital raised shares of Cenovus Energy from a “sector perform” rating to an “outperform” rating in a report on Friday, February 16th. Finally, UBS initiated coverage on shares of Cenovus Energy in a report on Wednesday, March 7th. They issued a “neutral” rating on the stock. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. Cenovus Energy has an average rating of “Hold” and a consensus target price of $13.64.
NYSE CVE opened at $9.36 on Friday. The stock has a market cap of $11,181.99, a price-to-earnings ratio of -468.00, a price-to-earnings-growth ratio of 12.49 and a beta of 0.71. Cenovus Energy Inc has a 52 week low of $6.76 and a 52 week high of $11.52. The company has a current ratio of 1.13, a quick ratio of 0.82 and a debt-to-equity ratio of 0.48.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.45). The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.95 billion. Cenovus Energy had a net margin of 18.92% and a return on equity of 0.53%. During the same period last year, the company earned $0.39 earnings per share. analysts anticipate that Cenovus Energy Inc will post 0.12 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were issued a dividend of $0.0398 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a yield of 1.70%. Cenovus Energy’s dividend payout ratio is -800.00%.
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Cenovus Energy Company Profile
Cenovus Energy Inc is a Canada-based integrated oil company. It operates in the business of developing, producing and marketing crude oil, Natural Gas Liquids (NGLs) and natural gas in Canada. The Company also conducts marketing activities and owns refining interests in the United States (U.S.). Its segments include: Oil Sands, which includes the development and production of bitumen and natural gas in northeast Alberta; Conventional, which includes the development and production of conventional crude oil, NGLs and natural gas in Alberta and Saskatchewan, including the heavy oil assets at Pelican Lake, the carbon dioxide (CO2) enhanced oil recovery (EOR) project at Weyburn and emerging tight oil opportunities; Refining and Marketing, which includes transporting and selling crude oil and natural gas and joint ownership of refineries in the U.S., as well as Corporate and Eliminations.
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