Cenovus Energy Inc. (NYSE:CVE) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,082,556 shares of the oil and gas company’s stock after selling 81,413 shares during the period. Vanguard Group Inc. owned about 2.74% of Cenovus Energy worth $759,201,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in Cenovus Energy by 104.9% in the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 851 shares during the period. Wahed Invest LLC raised its stake in shares of Cenovus Energy by 5.6% during the 3rd quarter. Wahed Invest LLC now owns 16,489 shares of the oil and gas company’s stock worth $276,000 after buying an additional 875 shares during the period. Montgomery Investment Management Inc. lifted its position in shares of Cenovus Energy by 1.6% during the 4th quarter. Montgomery Investment Management Inc. now owns 56,535 shares of the oil and gas company’s stock valued at $857,000 after buying an additional 894 shares in the last quarter. Harmony Asset Management LLC grew its stake in Cenovus Energy by 8.1% in the 3rd quarter. Harmony Asset Management LLC now owns 13,400 shares of the oil and gas company’s stock valued at $224,000 after acquiring an additional 1,000 shares during the period. Finally, TD Private Client Wealth LLC increased its holdings in Cenovus Energy by 3.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 40,194 shares of the oil and gas company’s stock worth $672,000 after acquiring an additional 1,236 shares in the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Royal Bank of Canada dropped their target price on shares of Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. National Bank Financial cut Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, February 21st. Morgan Stanley reaffirmed an “overweight” rating on shares of Cenovus Energy in a research note on Wednesday. Finally, Scotiabank raised Cenovus Energy to a “strong-buy” rating in a research note on Wednesday, March 19th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Cenovus Energy has an average rating of “Moderate Buy” and a consensus price target of $29.00.

Cenovus Energy Stock Down 2.2 %

Shares of NYSE:CVE opened at $13.78 on Friday. Cenovus Energy Inc. has a 52-week low of $12.08 and a 52-week high of $21.90. The stock has a market cap of $25.12 billion, a P/E ratio of 11.39 and a beta of 1.99. The business has a fifty day moving average of $14.26 and a two-hundred day moving average of $15.42. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24.

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

Cenovus Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.1269 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.51 annualized dividend and a dividend yield of 3.68%. Cenovus Energy’s dividend payout ratio (DPR) is 40.50%.

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.