Quantinno Capital Management LP Sells 27,198 Shares of Cenovus Energy Inc $CVE

Quantinno Capital Management LP reduced its holdings in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 6.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 397,499 shares of the oil and gas company’s stock after selling 27,198 shares during the quarter. Quantinno Capital Management LP’s holdings in Cenovus Energy were worth $10,546,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Jones Financial Companies Lllp grew its holdings in Cenovus Energy by 574.8% in the 1st quarter. Jones Financial Companies Lllp now owns 21,607 shares of the oil and gas company’s stock valued at $301,000 after buying an additional 18,405 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Cenovus Energy by 6.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 747,472 shares of the oil and gas company’s stock valued at $10,397,000 after acquiring an additional 44,125 shares during the period. Prudential Financial Inc. bought a new stake in shares of Cenovus Energy in the second quarter valued at approximately $525,000. EverSource Wealth Advisors LLC grew its stake in shares of Cenovus Energy by 57.8% in the second quarter. EverSource Wealth Advisors LLC now owns 4,912 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Cenovus Energy in the second quarter worth $495,000. 51.19% of the stock is currently owned by institutional investors.

Cenovus Energy Stock Performance

Cenovus Energy stock opened at $29.58 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.04. The stock has a fifty day moving average price of $27.27 and a two-hundred day moving average price of $25.36. Cenovus Energy Inc has a 52-week low of $14.48 and a 52-week high of $32.07. The firm has a market capitalization of $55.03 billion, a P/E ratio of 11.38 and a beta of 0.34.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Wednesday, July 29th. The oil and gas company reported $1.11 EPS for the quarter, meeting the consensus estimate of $1.11. Cenovus Energy had a net margin of 12.37% and a return on equity of 21.08%. The company had revenue of $14.59 billion for the quarter, compared to the consensus estimate of $11.87 billion. During the same quarter in the previous year, the company earned $0.45 EPS. The firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. As a group, analysts anticipate that Cenovus Energy Inc will post 2.89 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.0%. Cenovus Energy’s dividend payout ratio is 24.62%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CVE shares. UBS Group reiterated a “buy” rating on shares of Cenovus Energy in a research note on Thursday, April 9th. Zacks Research downgraded shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Wall Street Zen lowered shares of Cenovus Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Lake Street Capital set a $36.00 target price on shares of Cenovus Energy in a research note on Wednesday, May 13th. Finally, Scotiabank reissued an “outperform” rating on shares of Cenovus Energy in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.25.

Cenovus Energy Company Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin?off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.