115,635 Shares in Cenovus Energy Inc. (NYSE:CVE) Bought by King Luther Capital Management Corp

King Luther Capital Management Corp acquired a new stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 115,635 shares of the oil and gas company’s stock, valued at approximately $2,273,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Herr Investment Group LLC bought a new position in shares of Cenovus Energy in the 2nd quarter valued at about $983,000. Canada Pension Plan Investment Board raised its position in Cenovus Energy by 2,236.1% during the second quarter. Canada Pension Plan Investment Board now owns 4,610,779 shares of the oil and gas company’s stock valued at $90,608,000 after purchasing an additional 4,413,405 shares during the period. Intech Investment Management LLC lifted its stake in shares of Cenovus Energy by 21.8% in the 2nd quarter. Intech Investment Management LLC now owns 284,342 shares of the oil and gas company’s stock valued at $5,588,000 after purchasing an additional 50,898 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Cenovus Energy by 24.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 18,899 shares of the oil and gas company’s stock valued at $372,000 after purchasing an additional 3,652 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Cenovus Energy by 49.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,380,200 shares of the oil and gas company’s stock valued at $27,135,000 after purchasing an additional 457,094 shares during the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on CVE. StockNews.com lowered shares of Cenovus Energy from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 26th. Scotiabank reduced their price objective on shares of Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Finally, Raymond James raised shares of Cenovus Energy to a “moderate buy” rating in a research note on Tuesday, May 28th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Cenovus Energy presently has an average rating of “Buy” and a consensus price target of $30.67.

Cenovus Energy Trading Down 0.6 %

CVE stock opened at $17.11 on Friday. Cenovus Energy Inc. has a 12 month low of $14.69 and a 12 month high of $21.90. The firm’s 50-day moving average is $18.53 and its 200 day moving average is $19.43. The company has a market capitalization of $31.81 billion, a PE ratio of 9.51 and a beta of 2.05. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 1.00.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.13). Cenovus Energy had a net margin of 8.56% and a return on equity of 16.61%. The company had revenue of $10.88 billion for the quarter, compared to the consensus estimate of $9.78 billion. On average, research analysts anticipate that Cenovus Energy Inc. will post 1.85 EPS for the current year.

Cenovus Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.132 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.53 annualized dividend and a dividend yield of 3.09%. Cenovus Energy’s dividend payout ratio is currently 29.44%.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.