Cenovus Energy Inc. (NYSE:CVE) Stock Holdings Decreased by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 32.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,114,249 shares of the oil and gas company's stock after selling 5,447,091 shares during the period. Wellington Management Group LLP owned 0.61% of Cenovus Energy worth $186,085,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Truvestments Capital LLC purchased a new stake in shares of Cenovus Energy in the third quarter valued at about $25,000. Blue Trust Inc. raised its holdings in Cenovus Energy by 640.3% during the third quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company's stock worth $51,000 after purchasing an additional 2,651 shares in the last quarter. SevenBridge Financial Group LLC purchased a new position in Cenovus Energy during the third quarter worth about $162,000. Northwestern Mutual Wealth Management Co. raised its holdings in Cenovus Energy by 8.0% during the second 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 in the last quarter. Finally, Everpar Advisors LLC purchased a new position in Cenovus Energy during the second quarter worth about $211,000. Institutional investors and hedge funds own 51.19% of the company's stock.

Cenovus Energy Stock Up 1.1 %

Cenovus Energy stock traded up $0.17 during midday trading on Monday, hitting $15.19. 6,188,639 shares of the stock were exchanged, compared to its average volume of 8,805,984. Cenovus Energy Inc. has a 1 year low of $14.69 and a 1 year high of $21.90. The firm has a market cap of $27.74 billion, a P/E ratio of 10.36 and a beta of 2.02. 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 company has a 50 day moving average price of $16.49 and a two-hundred day moving average price of $18.01.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.08. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $10.25 billion. During the same period last year, the business earned $0.72 EPS. The firm's revenue for the quarter was down 17.9% compared to the same quarter last year. On average, sell-side analysts predict that Cenovus Energy Inc. will post 1.48 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.133 per share. This represents a $0.53 dividend on an annualized basis and a yield of 3.50%. This is a positive change from Cenovus Energy's previous quarterly dividend of $0.13. The ex-dividend date is Friday, December 13th. Cenovus Energy's payout ratio is presently 36.55%.

Analysts Set New Price Targets

CVE has been the subject of several analyst reports. TD Securities cut shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 1st. StockNews.com cut shares of Cenovus Energy from a "buy" rating to a "hold" rating in a report on Thursday. Finally, BMO Capital Markets dropped their target price on shares of Cenovus Energy from $31.00 to $28.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $30.00.

About Cenovus Energy

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.