Cenovus Energy Inc. (NYSE:CVE) Position Lessened by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 0.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 50,082,556 shares of the oil and gas company's stock after selling 81,413 shares during the quarter. Vanguard Group Inc. owned about 2.74% of Cenovus Energy worth $759,201,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CVE. Farther Finance Advisors LLC lifted its holdings 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 worth $25,000 after purchasing an additional 851 shares during the period. Wahed Invest LLC raised its position in shares of Cenovus Energy by 5.6% during the 3rd 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. lifted its stake in shares of 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 acquiring an additional 894 shares during the period. Harmony Asset Management LLC boosted its holdings in shares of Cenovus Energy by 8.1% in the third quarter. Harmony Asset Management LLC now owns 13,400 shares of the oil and gas company's stock valued at $224,000 after acquiring an additional 1,000 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in 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 purchasing an additional 1,236 shares in the last quarter. Institutional investors own 51.19% of the company's stock.

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Analyst Ratings Changes

Several brokerages have recently issued reports on CVE. StockNews.com cut Cenovus Energy from a "buy" rating to a "hold" rating in a research report on Saturday, December 28th. Morgan Stanley reaffirmed an "overweight" rating on shares of Cenovus Energy in a report on Wednesday, March 26th. Scotiabank raised 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 set a $25.00 price objective on shares of Cenovus Energy in a research note on Wednesday. Finally, National Bank Financial cut Cenovus Energy from an "outperform" rating to a "sector perform" rating in a report on Friday, February 21st. 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $29.00.

Cenovus Energy Trading Down 8.2 %

Cenovus Energy stock traded down $1.15 during midday trading on Thursday, reaching $12.90. The stock had a trading volume of 14,234,641 shares, compared to its average volume of 8,556,544. Cenovus Energy Inc. has a twelve month low of $12.08 and a twelve month high of $21.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95. The firm has a market cap of $23.51 billion, a price-to-earnings ratio of 10.66 and a beta of 1.99. The firm's fifty day simple moving average is $14.16 and its two-hundred day simple moving average is $15.36.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted 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). Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $11.08 billion. Equities analysts anticipate that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.1269 per share. This represents a $0.51 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend was Friday, March 14th. Cenovus Energy's dividend payout ratio is currently 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.