PNC Financial Services Group Inc. Grows Position in Cenovus Energy Inc. (NYSE:CVE)

PNC Financial Services Group Inc. raised its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 3.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,726 shares of the oil and gas company’s stock after buying an additional 2,054 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cenovus Energy were worth $711,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cardinal Capital Management Inc. grew its holdings in Cenovus Energy by 213.3% during the 3rd quarter. Cardinal Capital Management Inc. now owns 2,644 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 1,800 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Cenovus Energy in the 1st quarter worth approximately $25,000. Clarius Group LLC purchased a new position in shares of Cenovus Energy in the 3rd quarter worth approximately $107,000. Corient Capital Partners LLC purchased a new position in shares of Cenovus Energy in the 2nd quarter worth approximately $103,000. Finally, Kohmann Bosshard Financial Services LLC boosted its holdings in shares of Cenovus Energy by 25.0% in the 3rd quarter. Kohmann Bosshard Financial Services LLC now owns 12,500 shares of the oil and gas company’s stock worth $126,000 after purchasing an additional 2,500 shares during the period. Institutional investors and hedge funds own 46.86% of the company’s stock.

A number of equities analysts have recently commented on the company. BMO Capital Markets reiterated a “buy” rating on shares of Cenovus Energy in a report on Monday, September 27th. The Goldman Sachs Group lifted their target price on Cenovus Energy from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Tuesday, September 28th. ATB Capital reissued a “buy” rating and set a C$19.50 price target on shares of Cenovus Energy in a research note on Thursday, October 28th. Zacks Investment Research lowered Cenovus Energy from a “hold” rating to a “strong sell” rating and set a $8.50 price target for the company. in a research note on Wednesday, September 29th. Finally, Tudor Pickering reissued a “buy” rating and set a C$19.00 price target on shares of Cenovus Energy in a research note on Friday, December 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Cenovus Energy currently has a consensus rating of “Buy” and a consensus price target of $17.25.

Shares of NYSE CVE opened at $14.85 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.34 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $12.57 and a two-hundred day simple moving average of $10.50. The firm has a market cap of $29.83 billion, a PE ratio of 53.04 and a beta of 3.00. Cenovus Energy Inc. has a twelve month low of $5.56 and a twelve month high of $14.96.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Tuesday, November 2nd. The oil and gas company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.09). The firm had revenue of $10.67 billion for the quarter, compared to the consensus estimate of $11.74 billion. Cenovus Energy had a net margin of 2.29% and a return on equity of 2.17%. During the same period last year, the firm earned ($0.28) earnings per share. On average, research analysts expect that Cenovus Energy Inc. will post 0.75 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 31st. Stockholders of record on Wednesday, December 15th were given a $0.0282 dividend. This represents a $0.11 annualized dividend and a dividend yield of 0.76%. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Tuesday, December 14th. Cenovus Energy’s payout ratio is presently 39.29%.

Cenovus Energy Profile

Cenovus Energy, Inc engages in provision of gas and oil. Its activities include development, production, and marketing of crude oil, natural gas liquids (NGLS), and natural gas in Canada. The firm operates through four segments: Oil Sands, Conventional, Refining & Marketing, and Corporate & Eliminations.

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Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

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