Russell Investments Group Ltd. decreased its holdings in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 41.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 750,353 shares of the oil and gas company's stock after selling 522,819 shares during the period. Russell Investments Group Ltd.'s holdings in Cenovus Energy were worth $11,367,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Alliancebernstein L.P. lifted its stake in shares of Cenovus Energy by 0.7% during the 4th quarter. Alliancebernstein L.P. now owns 106,532 shares of the oil and gas company's stock worth $1,614,000 after purchasing an additional 779 shares during the last quarter. Farther Finance Advisors LLC lifted its position 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. Montgomery Investment Management Inc. boosted its holdings in shares of Cenovus Energy by 1.6% in the 4th quarter. Montgomery Investment Management Inc. now owns 56,535 shares of the oil and gas company's stock valued at $857,000 after buying an additional 894 shares in the last quarter. TD Private Client Wealth LLC raised its stake in shares of Cenovus Energy by 3.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 40,194 shares of the oil and gas company's stock worth $672,000 after acquiring an additional 1,236 shares in the last quarter. Finally, Banco Santander S.A. lifted its position in Cenovus Energy by 5.6% during the fourth quarter. Banco Santander S.A. now owns 30,967 shares of the oil and gas company's stock valued at $469,000 after acquiring an additional 1,641 shares during the last quarter. Hedge funds and other institutional investors own 51.19% of the company's stock.
Cenovus Energy Price Performance
Shares of NYSE:CVE traded up $0.35 during trading on Wednesday, reaching $11.68. 3,082,361 shares of the company's stock traded hands, compared to its average volume of 11,224,810. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. Cenovus Energy Inc. has a fifty-two week low of $10.23 and a fifty-two week high of $21.58. The company has a 50-day simple moving average of $13.47 and a 200-day simple moving average of $14.97. The firm has a market cap of $21.28 billion, a PE ratio of 9.66 and a beta of 1.46.
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 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.27). The business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. As a group, analysts predict that Cenovus Energy Inc. will post 1.49 earnings per share for the current year.
Cenovus Energy Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid 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 dividend yield of 4.35%. Cenovus Energy's dividend payout ratio is currently 40.50%.
Analysts Set New Price Targets
CVE has been the topic of several analyst reports. Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. Royal Bank of Canada reissued an "outperform" rating and issued a $25.00 price target on shares of Cenovus Energy in a report on Friday, April 11th. National Bank Financial downgraded shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a report on Friday, February 21st. StockNews.com cut shares of Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. Finally, Morgan Stanley restated an "overweight" rating on shares of Cenovus Energy in a research note on Tuesday. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $29.00.
View Our Latest Stock Report on CVE
About Cenovus Energy
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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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