K.J. Harrison & Partners Inc acquired a new position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,280 shares of the oil and gas company’s stock, valued at approximately $108,000.
Other institutional investors have also bought and sold shares of the company. Hillsdale Investment Management Inc. increased its holdings in shares of Cenovus Energy by 367.1% during the second quarter. Hillsdale Investment Management Inc. now owns 1,448,100 shares of the oil and gas company’s stock worth $12,759,000 after purchasing an additional 1,138,100 shares during the period. Galibier Capital Management Ltd. increased its holdings in shares of Cenovus Energy by 5.1% during the second quarter. Galibier Capital Management Ltd. now owns 2,376,994 shares of the oil and gas company’s stock worth $21,010,000 after purchasing an additional 115,628 shares during the period. Capital Wealth Planning LLC bought a new position in shares of Cenovus Energy during the second quarter worth approximately $146,000. Swiss National Bank increased its holdings in shares of Cenovus Energy by 5.3% during the second quarter. Swiss National Bank now owns 3,852,900 shares of the oil and gas company’s stock worth $33,979,000 after purchasing an additional 193,400 shares during the period. Finally, Candriam Luxembourg S.C.A. increased its holdings in shares of Cenovus Energy by 3.4% during the second quarter. Candriam Luxembourg S.C.A. now owns 34,134 shares of the oil and gas company’s stock worth $300,000 after purchasing an additional 1,122 shares during the period. Institutional investors own 75.67% of the company’s stock.
Several research analysts have recently commented on the stock. CIBC raised shares of Cenovus Energy from a “neutral” rating to an “outperform” rating in a report on Thursday, July 18th. GMP Securities reaffirmed a “buy” rating and set a $17.50 target price on shares of Cenovus Energy in a report on Thursday, April 25th. Finally, ValuEngine cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. Cenovus Energy currently has an average rating of “Hold” and an average target price of $13.41.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). The firm had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.38 billion. Cenovus Energy had a net margin of 1.25% and a negative return on equity of 8.70%. During the same period last year, the business earned ($0.24) earnings per share. Equities analysts expect that Cenovus Energy Inc will post 0.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.038 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 1.85%. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Thursday, September 12th. Cenovus Energy’s dividend payout ratio (DPR) is -8.62%.
About Cenovus Energy
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 in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.
Read More: Intrinsic Value and Stock Selection
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.