Bank of Nova Scotia lifted its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 6.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,775,862 shares of the oil and gas company’s stock after purchasing an additional 227,001 shares during the period. Bank of Nova Scotia’s holdings in Cenovus Energy were worth $39,058,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. V Wealth Management LLC acquired a new position in shares of Cenovus Energy during the second quarter worth $132,000. Sciencast Management LP bought a new stake in shares of Cenovus Energy in the first quarter worth $133,000. Cornerstone Wealth Management LLC bought a new stake in shares of Cenovus Energy in the second quarter worth $1,398,000. Addenda Capital Inc. bought a new stake in shares of Cenovus Energy in the second quarter worth $182,000. Finally, Element Capital Management LLC bought a new stake in shares of Cenovus Energy in the first quarter worth $154,000. 74.63% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:CVE opened at $8.75 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.17 and a quick ratio of 0.81. The firm has a market capitalization of $11.22 billion, a P/E ratio of -441.00 and a beta of 0.63. Cenovus Energy Inc has a 12-month low of $7.09 and a 12-month high of $11.52.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its earnings results on Thursday, July 26th. The oil and gas company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.21). Cenovus Energy had a negative net margin of 2.56% and a negative return on equity of 6.66%. The business had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.25 billion. During the same quarter in the previous year, the firm earned $0.36 EPS. equities research analysts predict that Cenovus Energy Inc will post -0.34 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be paid a dividend of $0.038 per share. The ex-dividend date is Thursday, September 13th. This represents a $0.15 annualized dividend and a yield of 1.74%. Cenovus Energy’s payout ratio is -750.00%.
A number of analysts recently issued reports on CVE shares. Morgan Stanley lifted their price target on shares of Cenovus Energy from $13.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 23rd. National Bank Financial upgraded shares of Cenovus Energy from a “sector perform overweight” rating to an “outperform overweight” rating in a research note on Thursday, May 31st. ValuEngine upgraded shares of Cenovus Energy from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Macquarie upgraded shares of Cenovus Energy from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 1st. Finally, Tudor Pickering lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $14.08.
Cenovus Energy Profile
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.
Recommended Story: Dividend
Want to see what other hedge funds are holding CVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cenovus Energy Inc (NYSE:CVE) (TSE:CVE).
Receive News & Ratings for Cenovus Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy and related companies with MarketBeat.com's FREE daily email newsletter.