Cenovus Energy Inc (CVE) Shares Sold by Bank of Nova Scotia

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Legal & General Group Plc now owns 4,646,674 shares of the oil and gas company's stock worth $32,827,000 after buying an additional 159,075 shares during the period.

Several equities analysts have recently commented on the stock. The subsequent divestiture process has been closely watched by investors concerned that low energy prices may reduce Cenovus's proceeds.

The Palliser divestiture in southern Alberta "will significantly allay concerns that the company may not reach its asset sales target by the end of this year", Paul Cheng, an analyst at Barclays Plc, said in a research note. The original version of this piece of content can be accessed at https://www.truebluetribune.com/2017/10/19/cenovus-energy-inc-cve-given-buy-rating-at-canaccord-genuity.html.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, July 27th.

Morgan Stanley "Maintained" Cenovus Energy Inc (NYSE:CVE) in a research note issued to investors on 10/13/17 to Overweight with price target of $15. Finally, First Commonwealth Financial Corp PA acquired a new stake in Cenovus Energy during the 2nd quarter worth approximately $114,000. The consensus mean EPS for the current quarter is at $0.11 derived from a total of 8 estimates from the analysts who have weighed in on projected earnings. For the quarter, shares have been noted at 28.65%. Prior to that, on September 5, the company announced the sale of its Pelican Lake heavy oil operations in Northern Alberta for C$975 million (US$781 million) in cash to Canadian Natural Resources Ltd (CNRL). Tobam purchased a new position in Cenovus Energy in the 2nd quarter worth about $309,000. Cenovus Energy presently has an average rating of Buy and an average target price of C$16.79. Cenovus Energy had a net margin of 17.89% and a return on equity of 3.20%.

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At the end of 06/30/2017 reporting period, 121 institutional holders increased their position in Cenovus Energy Inc. Allegis Investment Advisors LLC now owns 13,933 shares of the oil and gas company's stock worth $103,000 after purchasing an additional 2,016 shares during the last quarter. BidaskClub lowered Cenovus Energy from a sell rating to a strong sell rating in a research report on Thursday, June 22nd. The firm's 50-day moving average is $14.72 and its 200-day moving average is $14.54. During the same period a year ago, the business earned ($0.05) earnings per share. Analysts anticipate that Cenovus Energy will post $0.51 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th.

When we look at the Analyst Recommendations of the stock, the company has 1.57 rating given by Analysts where 1 stands for Strong Buy and 5 stands for Strong Sell. This is a boost from Cenovus Energy's previous quarterly dividend of $0.04. Stockholders of record on Friday, September 15th were issued a $0.039 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.16 annualized dividend and a dividend yield of 1.57%. Aviva PLC increased its stake in Cenovus Energy by 23.4% in the 2nd quarter. Cenovus Energy's dividend payout ratio (DPR) is now 8.89%.

On Monday October 02, 2017, CIBC World Markets released a statement on Cenovus Energy (TSE:CVE) bumped up the target price from $12.50 to $14.50 that suggested an upside of 0.18%.

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