Decisions about those expansions will be considered once Cenovus's planned asset sales are complete and the balance sheet is deleveraged, the company says. It also upped Transcanada Corp (NYSE:TRP) stake by 17,473 shares and now owns 742,493 shares.
"We're now a larger, stronger and more resilient company with a track record of execution that positions us well to provide sustainable returns-focused growth and withstand commodity price volatility", Ferguson said in a statement. The Sprott Inc holds 21,325 shares with $323,000 value, down from 430,700 last quarter. Analysts giving shares a rating of 1 or 2 would be indicating a Buy. Cenovus shares were down more than 7 percent in afternoon trading on June 20. Allianz Asset Management AG boosted its stake in shares of Cenovus Energy by 106.2% in the fourth quarter. The Burgundy Asset Management Ltd holds 18.17M shares with $274.67 million value, down from 22.92M last quarter. Beutel Goodman & Co Ltd. raised its stake in Cenovus Energy by 5.0% in the first quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. About 13.34M shares traded or 202.49% up from the average. The company's market cap is $6.55 billion. The stock has a 50 day moving average price of $9.07 and a 200 day moving average price of $12.24. Cenovus Energy Inc has a 12 month low of $6.88 and a 12 month high of $16.82.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Wednesday, April 26th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.02 by $0.06. The stock declined 0.95% or $0.44 reaching $45.92 per share. The business had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $3.21 billion. Breaking that down further, it has performed -8.68% for the week, -16.06% for the month, -37.78% over the last quarter, -50.26% for the past half-year and -44.56% for this previous year. This represents a $0.15 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, June 13th. Cenovus Energy's dividend payout ratio (DPR) is -71.43%.
TRADEMARK VIOLATION NOTICE: This article was originally posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this article on another publication, it was illegally stolen and republished in violation of USA & worldwide copyright & trademark legislation. Barclays Capital downgraded Cenovus Energy Inc (USA) (NYSE:CVE) on Monday, October 12 to "Underweight" rating.
Several analysts recently issued reports on CVE shares. On Friday, March 11 the stock rating was upgraded by Goldman Sachs to "Conviction Buy". BidaskClub raised shares of Cenovus Energy from a "strong sell" rating to a "sell" rating in a research note on Wednesday, June 14th. The stock of Cenovus Energy Inc (USA) (NYSE:CVE) earned "Neutral" rating by Macquarie Research on Thursday, March 30. The rating was reinitiated by Credit Suisse with "Outperform" on Friday, May 26. Cenovus Energy now has an average rating of "Buy" and an average target price of C$19.75.