Crossmark Global Holdings Inc. lowered its stake in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 45.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,122 shares of the oil and gas company's stock after selling 34,435 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Cenovus Energy were worth $704,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. SVB Wealth LLC grew its stake in shares of Cenovus Energy by 2.6% during the first quarter. SVB Wealth LLC now owns 19,710 shares of the oil and gas company's stock valued at $394,000 after acquiring an additional 507 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Cenovus Energy by 8.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company's stock worth $170,000 after purchasing an additional 643 shares during the last quarter. Cetera Advisors LLC raised its position in shares of Cenovus Energy by 5.2% in the 1st quarter. Cetera Advisors LLC now owns 16,347 shares of the oil and gas company's stock valued at $327,000 after purchasing an additional 801 shares in the last quarter. First Hawaiian Bank boosted its stake in shares of Cenovus Energy by 1.6% during the 2nd quarter. First Hawaiian Bank now owns 69,273 shares of the oil and gas company's stock valued at $1,362,000 after buying an additional 1,071 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of Cenovus Energy by 12.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,496 shares of the oil and gas company's stock worth $226,000 after buying an additional 1,229 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company's stock.
Analyst Ratings Changes
Several analysts recently issued reports on CVE shares. StockNews.com cut shares of Cenovus Energy from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. TD Securities cut shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 1st. Finally, BMO Capital Markets decreased their price target on Cenovus Energy from $31.00 to $28.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $30.00.
Get Our Latest Research Report on CVE
Cenovus Energy Stock Performance
Shares of NYSE CVE traded down $0.22 during midday trading on Friday, hitting $15.62. The company's stock had a trading volume of 6,658,869 shares, compared to its average volume of 8,877,183. The firm has a market cap of $28.57 billion, a P/E ratio of 10.77 and a beta of 2.05. Cenovus Energy Inc. has a 1-year low of $14.69 and a 1-year high of $21.90. The firm's fifty day moving average price is $16.75 and its 200-day moving average price is $18.51. 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 (NYSE:CVE - Get Free Report) TSE: CVE last posted its earnings results on Thursday, October 31st. The oil and gas company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.34 by $0.08. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $10.25 billion. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The business's revenue was down 17.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 earnings per share. On average, sell-side analysts forecast that Cenovus Energy Inc. will post 1.5 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. Shareholders of record on Friday, December 13th will be given a $0.133 dividend. The ex-dividend date is Friday, December 13th. This is a positive change from Cenovus Energy's previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a yield of 3.41%. Cenovus Energy's dividend payout ratio (DPR) is currently 36.55%.
Cenovus Energy Company Profile
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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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