SIR Capital Management L.P. Has $30.58 Million Stake in Cenovus Energy Inc. (NYSE:CVE)

SIR Capital Management L.P. decreased its stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 10.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,555,182 shares of the oil and gas company’s stock after selling 183,718 shares during the quarter. Cenovus Energy comprises 3.0% of SIR Capital Management L.P.’s portfolio, making the stock its 5th biggest holding. SIR Capital Management L.P. owned about 0.08% of Cenovus Energy worth $30,575,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVE. United Services Automobile Association raised its position in Cenovus Energy by 1.6% in the 2nd quarter. United Services Automobile Association now owns 427,405 shares of the oil and gas company’s stock worth $8,401,000 after purchasing an additional 6,732 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Cenovus Energy by 32,791.8% in the second quarter. Acadian Asset Management LLC now owns 4,440,391 shares of the oil and gas company’s stock worth $87,246,000 after buying an additional 4,426,891 shares during the period. Mraz Amerine & Associates Inc. lifted its stake in shares of Cenovus Energy by 25.3% during the 2nd quarter. Mraz Amerine & Associates Inc. now owns 54,511 shares of the oil and gas company’s stock worth $1,072,000 after acquiring an additional 10,996 shares during the last quarter. NewGen Asset Management Ltd boosted its holdings in Cenovus Energy by 1.6% during the 2nd quarter. NewGen Asset Management Ltd now owns 320,000 shares of the oil and gas company’s stock valued at $6,291,000 after acquiring an additional 5,000 shares during the period. Finally, MUFG Securities EMEA plc bought a new position in Cenovus Energy in the 2nd quarter valued at $13,762,000. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Trading Down 1.2 %

NYSE:CVE opened at $16.64 on Tuesday. The firm has a 50-day simple moving average of $19.11 and a 200-day simple moving average of $19.50. Cenovus Energy Inc. has a one year low of $14.69 and a one year high of $21.90. The firm has a market cap of $30.94 billion, a P/E ratio of 9.24 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 (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $0.39 earnings per share (EPS) 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 analysts’ expectations of $9.78 billion. Cenovus Energy had a net margin of 8.56% and a return on equity of 16.61%. Equities analysts anticipate that Cenovus Energy Inc. will post 1.85 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.132 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Friday, September 13th. Cenovus Energy’s dividend payout ratio (DPR) is currently 28.89%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. StockNews.com lowered shares of Cenovus Energy from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 26th. Scotiabank dropped 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. Finally, Raymond James raised shares of Cenovus Energy to a “moderate buy” rating in a research note on Tuesday, May 28th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $30.67.

About Cenovus Energy

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.