First Eagle Investment Management LLC Has $276.37 Million Holdings in Cenovus Energy Inc (CVE)

First Eagle Investment Management LLC reduced its stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 13.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,553,847 shares of the oil and gas company’s stock after selling 4,297,524 shares during the quarter. First Eagle Investment Management LLC owned approximately 2.24% of Cenovus Energy worth $276,365,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cornerstone Wealth Management LLC bought a new position in Cenovus Energy in the 2nd quarter valued at approximately $1,398,000. Atlas Capital Advisors LLC bought a new position in Cenovus Energy in the 2nd quarter valued at approximately $235,000. Aperio Group LLC lifted its stake in Cenovus Energy by 19.3% in the 2nd quarter. Aperio Group LLC now owns 263,271 shares of the oil and gas company’s stock valued at $2,733,000 after purchasing an additional 42,544 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Cenovus Energy by 6.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,189,575 shares of the oil and gas company’s stock valued at $33,121,000 after purchasing an additional 182,893 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its stake in Cenovus Energy by 10.0% in the 2nd quarter. D.A. Davidson & CO. now owns 66,107 shares of the oil and gas company’s stock valued at $686,000 after purchasing an additional 6,001 shares during the last quarter. Institutional investors own 72.94% of the company’s stock.

CVE opened at $7.12 on Monday. Cenovus Energy Inc has a twelve month low of $7.09 and a twelve month high of $11.47. The company has a quick ratio of 0.91, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. The firm has a market cap of $8.75 billion, a PE ratio of -356.00 and a beta of 0.76.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Wednesday, October 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.32). Cenovus Energy had a negative return on equity of 9.58% and a negative net margin of 3.15%. The firm had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.44 billion. As a group, research analysts anticipate that Cenovus Energy Inc will post -0.64 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be given a dividend of $0.0382 per share. The ex-dividend date is Thursday, December 13th. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.15 annualized dividend and a dividend yield of 2.14%. Cenovus Energy’s dividend payout ratio is -750.00%.

Several research firms have recently issued reports on CVE. TheStreet downgraded shares of Cenovus Energy from a “c-” rating to a “d+” rating in a research note on Tuesday, October 2nd. ValuEngine raised shares of Cenovus Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. CIBC began coverage on shares of Cenovus Energy in a research note on Friday, October 5th. They set a “sector outperform” rating for the company. Macquarie raised shares of Cenovus Energy from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 1st. Finally, Tudor Pickering downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $12.65.

ILLEGAL ACTIVITY NOTICE: “First Eagle Investment Management LLC Has $276.37 Million Holdings in Cenovus Energy Inc (CVE)” was originally posted by WKRB News and is the sole property of of WKRB News. If you are accessing this story on another website, it was stolen and reposted in violation of United States & international copyright & trademark legislation. The correct version of this story can be read at https://www.wkrb13.com/2018/11/26/first-eagle-investment-management-llc-has-276-37-million-holdings-in-cenovus-energy-inc-cve.html.

Cenovus Energy Profile

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 and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.

Featured Story: Bull Market

Want to see what other hedge funds are holding CVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cenovus Energy Inc (NYSE:CVE) (TSE:CVE).

Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

Receive News & Ratings for Cenovus Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply