Trexquant Investment LP Has $8.57 Million Position in Cenovus Energy Inc. (NYSE:CVE)

Trexquant Investment LP lessened its stake in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 23.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 565,378 shares of the oil and gas company's stock after selling 172,032 shares during the period. Trexquant Investment LP's holdings in Cenovus Energy were worth $8,565,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Alliancebernstein L.P. increased its position in shares of Cenovus Energy by 0.7% in the fourth 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 period. Farther Finance Advisors LLC increased its holdings in Cenovus Energy by 104.9% in the 4th 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 period. Wahed Invest LLC lifted its holdings in shares of Cenovus Energy by 5.6% during the 3rd quarter. Wahed Invest LLC now owns 16,489 shares of the oil and gas company's stock worth $276,000 after acquiring an additional 875 shares during the period. Montgomery Investment Management Inc. increased its stake in Cenovus Energy by 1.6% in the fourth quarter. Montgomery Investment Management Inc. now owns 56,535 shares of the oil and gas company's stock valued at $857,000 after acquiring an additional 894 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its stake in Cenovus Energy by 3.2% in the third quarter. TD Private Client Wealth LLC now owns 40,194 shares of the oil and gas company's stock valued at $672,000 after acquiring an additional 1,236 shares during the last quarter. Institutional investors own 51.19% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CVE. National Bank Financial downgraded Cenovus Energy from an "outperform" rating to a "sector perform" rating in a report on Friday, February 21st. Scotiabank upgraded Cenovus Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a report on Wednesday, March 26th. StockNews.com lowered shares of Cenovus Energy from a "buy" rating to a "hold" rating in a report on Saturday, December 28th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $25.00 price objective on shares of Cenovus Energy in a research note on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cenovus Energy currently has an average rating of "Moderate Buy" and an average target price of $29.00.

Cenovus Energy Trading Down 0.6 %

NYSE:CVE traded down $0.06 during mid-day trading on Monday, hitting $11.19. 14,645,020 shares of the company's stock were exchanged, compared to its average volume of 8,619,807. Cenovus Energy Inc. has a fifty-two week low of $10.58 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 market capitalization of $20.40 billion, a P/E ratio of 9.25 and a beta of 1.46. The company has a 50 day simple moving average of $14.09 and a 200-day simple moving average of $15.30.

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 the consensus estimate of $0.32 by ($0.27). The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $11.08 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. As a group, research analysts expect that Cenovus Energy Inc. will post 1.49 earnings per share for the current year.

Cenovus Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.1269 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend was Friday, March 14th. Cenovus Energy's dividend payout ratio is currently 40.50%.

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.