Dynasty Wealth Management LLC cut its stake in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 67.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,320 shares of the oil and gas company's stock after selling 51,858 shares during the period. Dynasty Wealth Management LLC's holdings in Cenovus Energy were worth $384,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Wahed Invest LLC increased its holdings in shares of Cenovus Energy by 5.6% during the third 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 in the last quarter. Montgomery Investment Management Inc. increased its holdings in shares of Cenovus Energy by 1.6% during the fourth quarter. Montgomery Investment Management Inc. now owns 56,535 shares of the oil and gas company's stock worth $857,000 after buying an additional 894 shares in the last quarter. Harmony Asset Management LLC increased its holdings in shares of Cenovus Energy by 8.1% during the third quarter. Harmony Asset Management LLC now owns 13,400 shares of the oil and gas company's stock worth $224,000 after buying an additional 1,000 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Cenovus Energy by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 76,940 shares of the oil and gas company's stock worth $1,287,000 after buying an additional 1,209 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in shares of Cenovus Energy by 3.2% during the third quarter. TD Private Client Wealth LLC now owns 40,194 shares of the oil and gas company's stock worth $672,000 after buying an additional 1,236 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors and hedge funds.
Cenovus Energy Trading Down 8.2 %
CVE traded down $1.13 during trading on Monday, reaching $12.71. 16,174,367 shares of the stock traded hands, compared to its average volume of 11,089,343. 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 stock has a market capitalization of $23.18 billion, a PE ratio of 10.50 and a beta of 1.99. The stock's 50-day moving average is $14.89 and its 200 day moving average is $16.05. Cenovus Energy Inc. has a 12 month low of $12.57 and a 12 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 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.27). The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. Equities analysts anticipate 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. Shareholders of record on Friday, March 14th will be given a dividend of $0.1269 per share. The ex-dividend date is Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a yield of 3.99%. Cenovus Energy's dividend payout ratio (DPR) is currently 40.50%.
Analyst Ratings Changes
CVE has been the topic of several analyst reports. StockNews.com cut shares of Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. Royal Bank of Canada reduced their price objective on shares of Cenovus Energy from $26.00 to $25.00 and set an "outperform" rating on the stock in a research note on Friday, February 21st. Finally, National Bank Financial cut shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Cenovus Energy currently has an average rating of "Moderate Buy" and a consensus target price of $29.25.
Read Our Latest Stock Report on Cenovus Energy
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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