Atlas Capital Advisors LLC Decreases Position in Cenovus Energy Inc. (NYSE:CVE)

Atlas Capital Advisors LLC reduced its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 14.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,370 shares of the oil and gas company’s stock after selling 723 shares during the quarter. Atlas Capital Advisors LLC’s holdings in Cenovus Energy were worth $86,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVE. SVB Wealth LLC raised its position in shares of Cenovus Energy by 2.6% during the 1st quarter. SVB Wealth LLC now owns 19,710 shares of the oil and gas company’s stock worth $394,000 after purchasing an additional 507 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in Cenovus Energy by 17.6% in the 1st quarter. Lindbrook Capital LLC now owns 4,240 shares of the oil and gas company’s stock valued at $85,000 after purchasing an additional 636 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Cenovus Energy by 80.3% in the 1st quarter. Fifth Third Bancorp now owns 1,453 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 647 shares in the last quarter. Spire Wealth Management boosted its position in Cenovus Energy by 41.9% during the fourth quarter. Spire Wealth Management now owns 2,305 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 681 shares during the last quarter. Finally, SYSTM Wealth Solutions LLC raised its holdings in Cenovus Energy by 6.8% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 12,493 shares of the oil and gas company’s stock valued at $250,000 after acquiring an additional 800 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Stock Down 2.2 %

Shares of NYSE CVE opened at $18.53 on Friday. The stock has a fifty day moving average price of $19.36 and a 200 day moving average price of $19.45. The company has a current ratio of 1.70, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25. Cenovus Energy Inc. has a 12-month low of $14.69 and a 12-month high of $21.90. The company has a market cap of $34.45 billion, a P/E ratio of 10.29 and a beta of 2.07.

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 for the quarter, compared to analysts’ expectations of $9.78 billion. Cenovus Energy had a net margin of 8.56% and a return on equity of 16.68%. Research analysts anticipate that Cenovus Energy Inc. will post 1.93 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.132 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Friday, September 13th. Cenovus Energy’s dividend payout ratio is currently 28.89%.

Analyst Ratings Changes

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