Boston Partners cut its position in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,407,135 shares of the oil and gas company's stock after selling 86,060 shares during the quarter. Boston Partners owned 1.50% of Cenovus Energy worth $415,218,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC grew its stake in Cenovus Energy by 104.9% in the fourth quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 851 shares in the last quarter. Wahed Invest LLC lifted its position in shares of Cenovus Energy by 5.6% in the third quarter. Wahed Invest LLC now owns 16,489 shares of the oil and gas company's stock valued at $276,000 after buying an additional 875 shares during the last quarter. Montgomery Investment Management Inc. lifted its holdings in 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 worth $857,000 after purchasing an additional 894 shares during the last quarter. Harmony Asset Management LLC lifted its holdings in Cenovus Energy by 8.1% during the 3rd quarter. Harmony Asset Management LLC now owns 13,400 shares of the oil and gas company's stock worth $224,000 after purchasing an additional 1,000 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Cenovus Energy by 1.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 76,940 shares of the oil and gas company's stock worth $1,287,000 after purchasing an additional 1,209 shares during the last quarter. 51.19% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms have commented on CVE. StockNews.com lowered Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. National Bank Financial lowered Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. Finally, Royal Bank of Canada reduced their price objective on Cenovus Energy from $26.00 to $25.00 and set an "outperform" rating on the stock in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $29.25.
View Our Latest Report on CVE
Cenovus Energy Trading Up 1.0 %
Shares of CVE stock traded up $0.14 on Friday, hitting $14.17. The company had a trading volume of 11,163,597 shares, compared to its average volume of 8,466,211. The firm has a market cap of $25.82 billion, a P/E ratio of 11.71 and a beta of 1.99. The stock's 50-day moving average is $14.35 and its two-hundred day moving average is $15.53. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. Cenovus Energy Inc. has a twelve month low of $12.08 and a twelve month high of $21.90.
Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued 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). The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. On average, equities research analysts anticipate that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.
Cenovus Energy Cuts Dividend
The business 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 3.58%. Cenovus Energy's payout ratio is 40.50%.
About Cenovus Energy
(
Free Report)
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.
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