DekaBank Deutsche Girozentrale Sells 24,594 Shares of Cenovus Energy Inc. (NYSE:CVE)

DekaBank Deutsche Girozentrale decreased its holdings in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 661,167 shares of the oil and gas company’s stock after selling 24,594 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Cenovus Energy were worth $12,950,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CVE. Banque Cantonale Vaudoise purchased a new position in shares of Cenovus Energy in the first quarter valued at $30,000. Wolff Wiese Magana LLC increased its position in shares of Cenovus Energy by 71.4% during the first 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 lifted its holdings in shares of Cenovus Energy by 124.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,558 shares of the oil and gas company’s stock worth $51,000 after buying an additional 1,417 shares in the last quarter. American National Bank bought a new position in shares of Cenovus Energy in the first quarter valued at approximately $52,000. Finally, Lindbrook Capital LLC grew its stake in 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 valued at $85,000 after acquiring an additional 636 shares in the last quarter. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Down 0.2 %

Shares of NYSE:CVE opened at $16.20 on Monday. The firm has a market capitalization of $30.12 billion, a PE ratio of 9.00 and a beta of 2.05. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.66. Cenovus Energy Inc. has a 52-week low of $14.69 and a 52-week high of $21.90. The firm has a fifty day moving average of $18.81 and a 200 day moving average of $19.46.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.13). The firm had revenue of $10.88 billion during the quarter, compared to analysts’ expectations 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 anticipate that Cenovus Energy Inc. will post 1.85 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.132 dividend. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Friday, September 13th. Cenovus Energy’s dividend payout ratio (DPR) is presently 29.44%.

Wall Street Analyst Weigh In

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

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.