Clearbridge Investments LLC lessened its holdings in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 2.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,356,673 shares of the oil and gas company's stock after selling 54,026 shares during the period. Clearbridge Investments LLC owned about 0.13% of Cenovus Energy worth $35,704,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Private Wealth Group LLC raised its stake in Cenovus Energy by 177.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 11,991 shares of the oil and gas company's stock worth $184,000 after buying an additional 7,669 shares in the last quarter. Korea Investment CORP raised its position in shares of Cenovus Energy by 67.5% in the 4th quarter. Korea Investment CORP now owns 1,517,768 shares of the oil and gas company's stock worth $22,996,000 after acquiring an additional 611,400 shares in the last quarter. Mufg Securities Canada LTD. lifted its stake in shares of Cenovus Energy by 69.3% during the 4th quarter. Mufg Securities Canada LTD. now owns 1,952,419 shares of the oil and gas company's stock worth $29,577,000 after purchasing an additional 799,001 shares during the last quarter. Guardian Partners Inc. bought a new stake in Cenovus Energy during the fourth quarter valued at about $924,000. Finally, American Century Companies Inc. grew its stake in Cenovus Energy by 6.7% in the fourth quarter. American Century Companies Inc. now owns 660,676 shares of the oil and gas company's stock valued at $10,015,000 after purchasing an additional 41,361 shares during the last quarter. 51.19% of the stock is currently owned by institutional investors.
Cenovus Energy Stock Performance
Cenovus Energy stock traded down $1.64 during mid-day trading on Friday, reaching $11.25. 16,767,705 shares of the company traded hands, compared to its average volume of 8,595,707. The firm's fifty day moving average is $14.09 and its two-hundred day moving average is $15.30. The company has a market capitalization of $20.51 billion, a price-to-earnings ratio of 9.30 and a beta of 1.46. Cenovus Energy Inc. has a fifty-two week low of $11.11 and a fifty-two week 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.
Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings data on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.27). The company had revenue of $8.40 billion for the quarter, compared to analysts' expectations of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. On average, equities research analysts expect that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.
Cenovus Energy Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.1269 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date was Friday, March 14th. Cenovus Energy's dividend payout ratio is presently 40.50%.
Wall Street Analysts Forecast Growth
Several analysts have commented on CVE shares. Royal Bank of Canada reissued an "outperform" rating and set a $25.00 price target on shares of Cenovus Energy in a research report on Wednesday. National Bank Financial cut shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research report on Friday, February 21st. StockNews.com lowered shares of Cenovus Energy from a "buy" rating to a "hold" rating in a report on Saturday, December 28th. Scotiabank raised Cenovus Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a research report on Wednesday, March 26th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Cenovus Energy has an average rating of "Moderate Buy" and an average price target of $29.00.
Read Our Latest Analysis 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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