Cigna Investments Inc. New Has $430,000 Holdings in Cenovus Energy Inc. (NYSE:CVE)

Cigna Investments Inc. New lowered its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 3.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 25,673 shares of the oil and gas company’s stock after selling 1,008 shares during the period. Cigna Investments Inc. New’s holdings in Cenovus Energy were worth $430,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CVE. Capital International Investors boosted its position in Cenovus Energy by 216.3% during the first quarter. Capital International Investors now owns 33,927,436 shares of the oil and gas company’s stock valued at $678,250,000 after acquiring an additional 23,202,018 shares during the last quarter. Boston Partners grew its stake in Cenovus Energy by 29.0% during the first quarter. Boston Partners now owns 37,540,511 shares of the oil and gas company’s stock worth $750,435,000 after purchasing an additional 8,438,979 shares during the period. Assenagon Asset Management S.A. increased its holdings in Cenovus Energy by 22,396.6% in the second quarter. Assenagon Asset Management S.A. now owns 7,429,036 shares of the oil and gas company’s stock worth $146,054,000 after purchasing an additional 7,396,013 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in Cenovus Energy by 81.1% in the second quarter. 1832 Asset Management L.P. now owns 12,538,499 shares of the oil and gas company’s stock valued at $246,507,000 after buying an additional 5,613,320 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in Cenovus Energy by 32,791.8% in the second quarter. Acadian Asset Management LLC now owns 4,440,391 shares of the oil and gas company’s stock valued at $87,246,000 after buying an additional 4,426,891 shares during the period. 51.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on CVE. BMO Capital Markets dropped their target price on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday. TD Securities cut shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. StockNews.com raised Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Finally, Scotiabank dropped their price target on Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Cenovus Energy Stock Down 2.5 %

Shares of NYSE CVE opened at $15.67 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 1.00. Cenovus Energy Inc. has a 1 year low of $14.69 and a 1 year high of $21.90. The stock has a market capitalization of $28.67 billion, a P/E ratio of 8.42 and a beta of 2.04. The company has a 50-day moving average price of $17.20 and a 200-day moving average price of $18.88.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.13). The company had revenue of $10.88 billion for the quarter, compared to analyst estimates of $9.78 billion. Cenovus Energy had a net margin of 8.56% and a return on equity of 16.61%. On average, equities research analysts forecast that Cenovus Energy Inc. will post 1.67 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.133 per share. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.53 annualized dividend and a dividend yield of 3.40%. Cenovus Energy’s payout ratio is presently 28.49%.

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.