Skandinaviska Enskilda Banken AB publ Boosts Stock Holdings in Cenovus Energy Inc (NYSE:CVE)
Skandinaviska Enskilda Banken AB publ boosted its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 14.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,000 shares of the oil and gas company’s stock after purchasing an additional 13,200 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Cenovus Energy were worth $1,045,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of CVE. Pacifica Partners Inc. purchased a new stake in shares of Cenovus Energy in the 4th quarter worth approximately $25,000. Marshall Wace LLP acquired a new stake in Cenovus Energy in the first quarter valued at approximately $25,000. Evoke Wealth LLC acquired a new stake in Cenovus Energy in the third quarter valued at approximately $94,000. Corient Capital Partners LLC acquired a new stake in Cenovus Energy in the fourth quarter valued at approximately $103,000. Finally, Key Financial Inc acquired a new stake in Cenovus Energy in the fourth quarter valued at approximately $106,000. Institutional investors and hedge funds own 78.89% of the company’s stock.
NYSE:CVE traded down $0.12 during mid-day trading on Thursday, reaching $1.89. 12,597,635 shares of the stock were exchanged, compared to its average volume of 11,944,205. The business has a fifty day moving average price of $6.19 and a 200 day moving average price of $8.49. The firm has a market capitalization of $2.47 billion, a PE ratio of 1.41 and a beta of 1.16. Cenovus Energy Inc has a 1-year low of $1.41 and a 1-year high of $10.82. The company has a current ratio of 1.30, a quick ratio of 0.69 and a debt-to-equity ratio of 0.44.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a $0.047 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.19 dividend on an annualized basis and a dividend yield of 9.95%. Cenovus Energy’s dividend payout ratio (DPR) is 67.86%.
CVE has been the subject of several recent research reports. Royal Bank of Canada reaffirmed a “buy” rating on shares of Cenovus Energy in a research report on Wednesday, December 11th. Stifel Firstegy downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 19th. Tudor Pickering downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Wednesday. ValuEngine downgraded shares of Cenovus Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, March 17th. Finally, Stifel Nicolaus downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $12.25.
About Cenovus Energy
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.
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