Capital Research Global Investors Reduces Stake in Cenovus Energy Inc. (NYSE:CVE)

Capital Research Global Investors lowered its position in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 45.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,436,457 shares of the oil and gas company's stock after selling 20,029,013 shares during the quarter. Capital Research Global Investors owned 1.34% of Cenovus Energy worth $370,340,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Alliancebernstein L.P. raised its stake in Cenovus Energy by 0.7% during the fourth quarter. Alliancebernstein L.P. now owns 106,532 shares of the oil and gas company's stock valued at $1,614,000 after purchasing an additional 779 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of 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 buying an additional 851 shares during the last quarter. Montgomery Investment Management Inc. raised 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. Guggenheim Capital LLC lifted its holdings in shares of Cenovus Energy by 4.5% in the 4th quarter. Guggenheim Capital LLC now owns 20,974 shares of the oil and gas company's stock valued at $318,000 after acquiring an additional 908 shares during the last quarter. Finally, Banco Santander S.A. grew its position in Cenovus Energy by 5.6% in the fourth quarter. Banco Santander S.A. now owns 30,967 shares of the oil and gas company's stock worth $469,000 after acquiring an additional 1,641 shares in the last quarter. Institutional investors own 51.19% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CVE. Morgan Stanley restated an "overweight" rating on shares of Cenovus Energy in a research report on Tuesday, April 15th. National Bank Financial downgraded Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research report on Friday, February 21st. Scotiabank upgraded shares of Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. Royal Bank of Canada reissued an "outperform" rating and issued a $25.00 price objective on shares of Cenovus Energy in a research report on Friday, April 11th. Finally, StockNews.com lowered Cenovus Energy from a "buy" rating to a "hold" rating in a research report on Saturday, December 28th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.00.

Cenovus Energy Stock Up 1.2 %

NYSE:CVE traded up $0.14 during mid-day trading on Thursday, reaching $12.11. The company's stock had a trading volume of 6,721,227 shares, compared to its average volume of 8,621,466. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $22.07 billion, a PE ratio of 10.01 and a beta of 1.46. The stock has a fifty day moving average of $13.08 and a 200-day moving average of $14.76. Cenovus Energy Inc. has a 1 year low of $10.23 and a 1 year high of $21.58.

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

Cenovus Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.1269 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend was Friday, March 14th. Cenovus Energy's payout ratio is presently 40.50%.

Cenovus Energy 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.