Dimensional Fund Advisors LP Has $109.81 Million Stock Position in Cenovus Energy Inc. (NYSE:CVE)

Dimensional Fund Advisors LP reduced its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 14.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,585,384 shares of the oil and gas company’s stock after selling 912,807 shares during the period. Dimensional Fund Advisors LP owned 0.30% of Cenovus Energy worth $109,809,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new stake in shares of Cenovus Energy in the 1st quarter valued at $30,000. Wolff Wiese Magana LLC increased its stake in shares of Cenovus Energy by 71.4% in the 1st quarter. Wolff Wiese Magana LLC now owns 2,400 shares of the oil and gas company’s stock valued at $48,000 after buying an additional 1,000 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of Cenovus Energy by 124.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 2,558 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 1,417 shares during the period. American National Bank acquired a new stake in shares of Cenovus Energy during the first quarter worth $52,000. Finally, Lindbrook Capital LLC grew its stake in shares of Cenovus Energy by 17.6% during the first quarter. Lindbrook Capital LLC now owns 4,240 shares of the oil and gas company’s stock worth $85,000 after purchasing an additional 636 shares during the period. 51.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Raymond James raised Cenovus Energy to a “moderate buy” rating in a research note on Tuesday, May 28th. Scotiabank decreased their price objective on Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Finally, StockNews.com cut Cenovus Energy from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 26th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $30.67.

Cenovus Energy Stock Performance

CVE stock opened at $17.21 on Tuesday. The business’s 50-day moving average price is $18.46 and its two-hundred day moving average price is $19.43. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 0.25. The firm has a market cap of $31.99 billion, a PE ratio of 9.56 and a beta of 2.05. Cenovus Energy Inc. has a 1-year low of $14.69 and a 1-year high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its 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). The business had revenue of $10.88 billion for the quarter, compared to the consensus estimate of $9.78 billion. Cenovus Energy had a return on equity of 16.61% and a net margin of 8.56%. As a group, research analysts forecast that Cenovus Energy Inc. will post 1.85 earnings per share for the current year.

Cenovus Energy Cuts Dividend

The company 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 of this dividend is Friday, September 13th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.07%. Cenovus Energy’s dividend payout ratio (DPR) is 29.44%.

Cenovus Energy 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.