Lindbrook Capital LLC Sells 1,361 Shares of Cenovus Energy Inc. (NYSE:CVE)

Lindbrook Capital LLC trimmed its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 29.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,217 shares of the oil and gas company’s stock after selling 1,361 shares during the quarter. Lindbrook Capital LLC’s holdings in Cenovus Energy were worth $49,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Truvestments Capital LLC bought a new stake in shares of Cenovus Energy in the 3rd quarter valued at about $25,000. Sierra Ocean LLC bought a new position in Cenovus Energy in the 4th quarter valued at about $67,000. Blue Trust Inc. raised its holdings in Cenovus Energy by 54.7% in the 4th quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company’s stock valued at $72,000 after acquiring an additional 1,677 shares during the period. SevenBridge Financial Group LLC bought a new position in Cenovus Energy in the 3rd quarter valued at about $162,000. Finally, Empirical Asset Management LLC bought a new position in Cenovus Energy in the 4th quarter valued at about $174,000. 51.19% of the stock is owned by institutional investors.

Cenovus Energy Stock Up 0.3 %

Shares of CVE opened at $12.72 on Friday. Cenovus Energy Inc. has a 12 month low of $12.07 and a 12 month high of $21.90. The firm’s 50 day moving average is $14.72 and its 200-day moving average is $15.89. The stock has a market capitalization of $23.19 billion, a PE ratio of 10.51 and a beta of 1.99. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.27). Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $11.08 billion. Equities research analysts forecast that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.1269 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.51 annualized dividend and a dividend yield of 3.99%. Cenovus Energy’s dividend payout ratio is 40.50%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CVE. StockNews.com cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. Royal Bank of Canada lowered their price target on shares of Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Finally, National Bank Financial cut shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, February 21st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.25.

Cenovus Energy Company Profile

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.