Intact Investment Management Inc. Has $39.59 Million Stock Position in Cenovus Energy Inc. (NYSE:CVE)

Intact Investment Management Inc. lifted its position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 9.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,611,948 shares of the oil and gas company's stock after acquiring an additional 225,550 shares during the quarter. Cenovus Energy makes up about 1.4% of Intact Investment Management Inc.'s holdings, making the stock its 18th biggest holding. Intact Investment Management Inc. owned 0.14% of Cenovus Energy worth $39,588,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVE. 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 valued at $25,000 after purchasing an additional 851 shares during the period. Wahed Invest LLC increased its stake in Cenovus Energy by 5.6% in the 3rd 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 period. Montgomery Investment Management Inc. lifted its position in Cenovus Energy by 1.6% in the 4th 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 boosted its stake in shares of 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 valued at $224,000 after buying an additional 1,000 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of 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 valued at $1,287,000 after acquiring an additional 1,209 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CVE. National Bank Financial cut Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research report on Friday, February 21st. Royal Bank of Canada reduced their price target on Cenovus Energy from $26.00 to $25.00 and set an "outperform" rating for the company in a report on Friday, February 21st. Finally, StockNews.com downgraded Cenovus Energy from a "buy" rating to a "hold" rating in a report on Saturday, December 28th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $29.25.

Cenovus Energy Stock Up 0.0 %

Shares of NYSE:CVE traded up $0.01 on Tuesday, reaching $13.62. The company had a trading volume of 5,070,778 shares, compared to its average volume of 8,456,950. The stock has a market capitalization of $24.82 billion, a P/E ratio of 11.25 and a beta of 1.99. The stock has a 50-day moving average price of $14.47 and a 200 day moving average price of $15.62. Cenovus Energy Inc. has a twelve month low of $12.08 and a twelve month high of $21.90. 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 - Get Free Report) TSE: CVE last posted its 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 return on equity of 10.73% and a net margin of 5.82%. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $11.08 billion. On average, equities analysts expect that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 dividend on an annualized basis and a yield of 3.73%. Cenovus Energy's payout ratio is presently 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.