Hotchkis & Wiley Capital Management LLC Sells 208,660 Shares of Cenovus Energy Inc. (NYSE:CVE)

Hotchkis & Wiley Capital Management LLC reduced its holdings in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,189,198 shares of the oil and gas company's stock after selling 208,660 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 0.28% of Cenovus Energy worth $86,815,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Centiva Capital LP increased its stake in Cenovus Energy by 61.4% in the third quarter. Centiva Capital LP now owns 55,453 shares of the oil and gas company's stock valued at $928,000 after purchasing an additional 21,090 shares during the last quarter. PDT Partners LLC acquired a new position in Cenovus Energy in the third quarter valued at $955,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Cenovus Energy by 3.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 385,754 shares of the oil and gas company's stock valued at $6,459,000 after purchasing an additional 14,414 shares during the last quarter. De Lisle Partners LLP increased its stake in Cenovus Energy by 80.0% in the third quarter. De Lisle Partners LLP now owns 270,000 shares of the oil and gas company's stock valued at $4,518,000 after purchasing an additional 120,000 shares during the last quarter. Finally, Bridgewater Associates LP purchased a new stake in Cenovus Energy during the third quarter valued at about $33,995,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Cenovus Energy Stock Up 1.0 %

NYSE CVE traded up $0.16 during mid-day trading on Tuesday, reaching $15.90. 6,549,590 shares of the company's stock traded hands, compared to its average volume of 8,066,753. Cenovus Energy Inc. has a 1-year low of $14.69 and a 1-year high of $21.90. The company has a fifty day simple moving average of $16.59 and a 200-day simple moving average of $18.14. 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 company has a market cap of $29.04 billion, a price-to-earnings ratio of 10.97 and a beta of 2.02.

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

Cenovus Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.133 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Cenovus Energy's previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a dividend yield of 3.35%. Cenovus Energy's dividend payout ratio (DPR) is 36.55%.

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.