B. Riley Wealth Advisors Inc. trimmed its holdings in shares of Cenovus Energy Inc. (NYSE:CVE – Free Report) (TSE:CVE) by 10.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,776 shares of the oil and gas company’s stock after selling 1,373 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Cenovus Energy were worth $200,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Quilter Plc bought a new position in shares of Cenovus Energy during the 1st quarter valued at $866,944,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Cenovus Energy by 68.9% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,746 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 712 shares during the period. KB Financial Partners LLC bought a new position in shares of Cenovus Energy during the 1st quarter valued at $40,000. Park Place Capital Corp lifted its holdings in shares of Cenovus Energy by 20.1% during the 1st quarter. Park Place Capital Corp now owns 4,170 shares of the oil and gas company’s stock valued at $73,000 after buying an additional 698 shares during the period. Finally, Macquarie Group Ltd. bought a new position in shares of Cenovus Energy during the 2nd quarter valued at $80,000. 50.01% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have recently weighed in on CVE. Scotiabank raised Cenovus Energy from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, September 6th. StockNews.com started coverage on Cenovus Energy in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, UBS Group started coverage on Cenovus Energy in a report on Wednesday, July 12th. They issued a “neutral” rating on the stock.
Cenovus Energy Price Performance
NYSE:CVE opened at $19.67 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. The business’s 50-day simple moving average is $20.10 and its two-hundred day simple moving average is $18.24. The stock has a market cap of $37.09 billion, a PE ratio of 13.29 and a beta of 2.20. Cenovus Energy Inc. has a 52 week low of $14.97 and a 52 week high of $22.18.
Cenovus Energy (NYSE:CVE – Get Free Report) (TSE:CVE) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.69 billion. Cenovus Energy had a return on equity of 14.29% and a net margin of 6.98%. As a group, analysts forecast that Cenovus Energy Inc. will post 1.66 EPS for the current fiscal year.
Cenovus Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.106 per share. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.16%. Cenovus Energy’s dividend payout ratio (DPR) is presently 27.70%.
Cenovus Energy Profile
Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil and natural gas in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, and U.S. Manufacturing segments. The Oil Sands segment develops and produces bitumen and heavy oil in northern Alberta and Saskatchewan.
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