FIL Ltd cut its stake in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 62.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 660,852 shares of the oil and gas company's stock after selling 1,103,480 shares during the quarter. FIL Ltd's holdings in Cenovus Energy were worth $10,018,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in CVE. Invesco Ltd. grew its position in Cenovus Energy by 3.6% during the 4th quarter. Invesco Ltd. now owns 8,043,884 shares of the oil and gas company's stock worth $121,865,000 after acquiring an additional 276,023 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in shares of Cenovus Energy in the fourth quarter valued at approximately $3,442,000. Massachusetts Financial Services Co. MA increased its stake in shares of Cenovus Energy by 4.9% in the 4th 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 buying an additional 245,302 shares during the period. Headlands Technologies LLC acquired a new position in shares of Cenovus Energy during the fourth quarter valued at $209,000. Finally, Geode Capital Management LLC boosted its holdings in Cenovus Energy by 29.2% in the fourth quarter. Geode Capital Management LLC now owns 8,287,334 shares of the oil and gas company's stock valued at $128,783,000 after acquiring an additional 1,873,415 shares during the last quarter. Institutional investors own 51.19% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on CVE. Royal Bank of Canada reaffirmed 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 lowered Cenovus Energy from a "buy" rating to a "hold" rating in a research report on Saturday, December 28th. Scotiabank upgraded Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. Morgan Stanley restated an "overweight" rating on shares of Cenovus Energy in a research report on Tuesday. Finally, National Bank Financial lowered shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a report on Friday, February 21st. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Cenovus Energy currently has an average rating of "Moderate Buy" and a consensus target price of $29.00.
Get Our Latest Analysis on Cenovus Energy
Cenovus Energy Stock Performance
CVE stock traded up $0.55 during mid-day trading on Thursday, hitting $12.21. 4,655,097 shares of the company were exchanged, compared to its average volume of 8,624,785. Cenovus Energy Inc. has a 1-year low of $10.23 and a 1-year high of $21.58. The stock has a market capitalization of $22.25 billion, a PE ratio of 10.08 and a beta of 1.46. The business has a 50 day simple moving average of $13.41 and a 200-day simple moving average of $14.95. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24.
Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) 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 company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $11.08 billion. On average, equities analysts forecast that Cenovus Energy Inc. will post 1.49 earnings per share for the current 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 paid a $0.1269 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend was Friday, March 14th. Cenovus Energy's dividend payout ratio (DPR) is presently 40.50%.
Cenovus Energy 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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