Cenovus Energy Inc. (NYSE:CVE) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 30.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 701,673 shares of the oil and gas company's stock after selling 301,729 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Cenovus Energy were worth $10,630,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CVE. Franklin Resources Inc. increased its holdings in Cenovus Energy by 105.0% in the fourth quarter. Franklin Resources Inc. now owns 4,337,551 shares of the oil and gas company's stock valued at $65,667,000 after buying an additional 2,221,549 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Cenovus Energy by 4.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,226,155 shares of the oil and gas company's stock valued at $79,176,000 after purchasing an additional 245,302 shares during the period. Amundi raised its stake in shares of Cenovus Energy by 1.7% during the 4th quarter. Amundi now owns 4,678,976 shares of the oil and gas company's stock worth $71,775,000 after buying an additional 77,548 shares during the period. Alberta Investment Management Corp lifted its holdings in Cenovus Energy by 10.1% during the fourth quarter. Alberta Investment Management Corp now owns 4,494,400 shares of the oil and gas company's stock valued at $68,094,000 after purchasing an additional 411,000 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Cenovus Energy during the fourth quarter worth about $3,649,000. Hedge funds and other institutional investors own 51.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. Scotiabank upgraded shares of Cenovus Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. Royal Bank of Canada reissued an "outperform" rating and issued a $25.00 target price on shares of Cenovus Energy in a research note on Friday, April 11th. StockNews.com downgraded Cenovus Energy from a "buy" rating to a "hold" rating in a research report on Saturday, December 28th. Finally, National Bank Financial downgraded Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $29.00.

Cenovus Energy Trading Up 1.0 %

Shares of Cenovus Energy stock traded up $0.12 during trading hours on Thursday, hitting $12.09. The company's stock had a trading volume of 1,780,013 shares, compared to its average volume of 8,603,522. The stock has a market cap of $22.03 billion, a price-to-earnings ratio of 9.98 and a beta of 1.46. Cenovus Energy Inc. has a twelve month low of $10.23 and a twelve month high of $21.58. The firm has a fifty day moving average of $13.08 and a 200-day moving average of $14.76. 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 announced its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.27). Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The firm had revenue of $8.40 billion during the quarter, compared to analysts' expectations of $11.08 billion. Research analysts forecast that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.1269 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.51 annualized dividend and a dividend yield of 4.20%. Cenovus Energy's dividend payout ratio is presently 40.50%.

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.