Cenovus Energy Inc. (NYSE:CVE) Shares Sold by Holocene Advisors LP

Holocene Advisors LP lowered its position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 67.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 383,078 shares of the oil and gas company's stock after selling 789,705 shares during the quarter. Holocene Advisors LP's holdings in Cenovus Energy were worth $6,409,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in CVE. Centiva Capital LP grew its holdings in Cenovus Energy by 61.4% during the 3rd quarter. Centiva Capital LP now owns 55,453 shares of the oil and gas company's stock worth $928,000 after acquiring an additional 21,090 shares in the last quarter. PDT Partners LLC bought a new position in Cenovus Energy during the 3rd quarter worth about $955,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Cenovus Energy by 3.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 385,754 shares of the oil and gas company's stock worth $6,459,000 after acquiring an additional 14,414 shares in the last quarter. De Lisle Partners LLP grew its holdings in Cenovus Energy by 80.0% during the 3rd quarter. De Lisle Partners LLP now owns 270,000 shares of the oil and gas company's stock worth $4,518,000 after acquiring an additional 120,000 shares in the last quarter. Finally, Bridgewater Associates LP bought a new position in Cenovus Energy during the 3rd quarter worth about $33,995,000. Hedge funds and other institutional investors own 51.19% of the company's stock.

Cenovus Energy Price Performance

CVE traded down $0.39 on Wednesday, hitting $15.51. 6,310,219 shares of the company's stock were exchanged, compared to its average volume of 8,846,854. Cenovus Energy Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $21.90. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average price of $16.56 and a 200-day moving average price of $18.11. The stock has a market cap of $28.32 billion, a price-to-earnings ratio of 10.69 and a beta of 2.02.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.08. The firm had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $10.25 billion. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. The company's revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS. As a group, equities analysts anticipate that Cenovus Energy Inc. will post 1.48 earnings per share for the current year.

Cenovus Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.133 dividend. This is a positive change from Cenovus Energy's previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a yield of 3.43%. The ex-dividend date is Friday, December 13th. Cenovus Energy's payout ratio is 36.55%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVE. BMO Capital Markets lowered their price target on shares of Cenovus Energy from $31.00 to $28.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. TD Securities lowered shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 1st. Finally, StockNews.com lowered shares of Cenovus Energy from a "buy" rating to a "hold" rating in a research report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $30.00.

Cenovus Energy Company 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.