Fmr LLC Has $697.51 Million Holdings in Cenovus Energy Inc. (NYSE:CVE)

FMR LLC cut its holdings in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 16.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,015,425 shares of the oil and gas company's stock after selling 9,334,470 shares during the period. FMR LLC owned approximately 2.52% of Cenovus Energy worth $697,514,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in shares of Cenovus Energy by 104.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 851 shares during the last quarter. Sierra Ocean LLC purchased a new stake in shares of Cenovus Energy in the 4th quarter valued at approximately $67,000. Blue Trust Inc. boosted its stake in Cenovus Energy by 54.7% in the 4th quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company's stock worth $72,000 after purchasing an additional 1,677 shares during the period. Empirical Asset Management LLC acquired a new stake in Cenovus Energy during the 4th quarter valued at $174,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of 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 valued at $184,000 after purchasing an additional 7,669 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors.

Cenovus Energy Stock Up 2.1 %

Shares of Cenovus Energy stock traded up $0.24 during midday trading on Monday, reaching $11.64. 2,280,413 shares of the company's stock traded hands, compared to its average volume of 8,634,404. 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 Inc. has a 52 week low of $10.23 and a 52 week high of $21.58. The company's 50 day simple moving average is $13.61 and its 200 day simple moving average is $15.03. The company has a market cap of $21.22 billion, a price-to-earnings ratio of 9.62 and a beta of 1.46.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. Equities analysts expect that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.1269 per share. The ex-dividend date was Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a yield of 4.36%. Cenovus Energy's payout ratio is currently 40.50%.

Analysts Set New Price Targets

CVE has been the topic of several recent analyst reports. National Bank Financial lowered Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research report on Friday, February 21st. Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $25.00 price objective on shares of Cenovus Energy in a research report on Friday. StockNews.com downgraded shares of Cenovus Energy from a "buy" rating to a "hold" rating in a research report on Saturday, December 28th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Cenovus Energy in a research note on Wednesday, March 26th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Cenovus Energy presently has a consensus rating of "Moderate Buy" and an average target price of $29.00.

Cenovus Energy 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.