Cenovus Energy Inc. (NYSE:CVE) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 13.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 905,704 shares of the oil and gas company's stock after selling 136,172 shares during the quarter. Intech Investment Management LLC's holdings in Cenovus Energy were worth $13,722,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CVE. Truvestments Capital LLC purchased a new stake in shares of Cenovus Energy during the third quarter valued at $25,000. Farther Finance Advisors LLC grew 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 buying an additional 851 shares during the last quarter. Sierra Ocean LLC purchased a new stake in shares of Cenovus Energy during the fourth quarter valued at $67,000. Blue Trust Inc. grew its holdings in shares of Cenovus Energy by 54.7% during the fourth quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company's stock valued at $72,000 after buying an additional 1,677 shares during the last quarter. Finally, SevenBridge Financial Group LLC purchased a new stake in shares of Cenovus Energy during the third quarter valued at $162,000. 51.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVE has been the topic of a number of research analyst reports. StockNews.com lowered shares of Cenovus Energy from a "buy" rating to a "hold" rating in a report on Saturday, December 28th. National Bank Financial lowered shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a report on Friday, February 21st. Finally, Royal Bank of Canada dropped their price objective on shares of Cenovus Energy from $26.00 to $25.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Cenovus Energy currently has a consensus rating of "Moderate Buy" and an average target price of $29.25.

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Cenovus Energy Stock Performance

NYSE:CVE traded up $0.14 during mid-day trading on Friday, hitting $14.17. The company's stock had a trading volume of 11,163,597 shares, compared to its average volume of 8,466,211. Cenovus Energy Inc. has a 1 year low of $12.08 and a 1 year high of $21.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95. The stock has a market cap of $25.82 billion, a price-to-earnings ratio of 11.71 and a beta of 1.99. The business's fifty day moving average is $14.35 and its two-hundred day moving average is $15.53.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings data 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 firm 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%. Analysts anticipate that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.1269 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 3.58%. Cenovus Energy's dividend payout ratio (DPR) is currently 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.