UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 72,186 Shares of Cenovus Energy Inc. (NYSE:CVE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 8.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 829,647 shares of the oil and gas company's stock after selling 72,186 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Cenovus Energy were worth $13,880,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Truvestments Capital LLC acquired a new stake in Cenovus Energy during the 3rd quarter valued at $25,000. Blue Trust Inc. raised its position in shares of Cenovus Energy by 640.3% in the third quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company's stock valued at $51,000 after purchasing an additional 2,651 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Cenovus Energy by 8.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company's stock worth $170,000 after buying an additional 643 shares during the last quarter. SevenBridge Financial Group LLC bought a new stake in shares of Cenovus Energy during the 3rd quarter worth about $162,000. Finally, Everpar Advisors LLC acquired a new position in Cenovus Energy in the 2nd quarter valued at about $211,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVE has been the topic of several research reports. StockNews.com downgraded Cenovus Energy from a "buy" rating to a "hold" rating in a research report on Thursday. TD Securities lowered Cenovus Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 1st. Finally, BMO Capital Markets dropped their target price on Cenovus Energy from $31.00 to $28.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.00.

Cenovus Energy Price Performance

Cenovus Energy stock traded down $0.62 during mid-day trading on Friday, reaching $15.02. 6,832,867 shares of the company were exchanged, compared to its average volume of 7,938,840. The company has a fifty day simple moving average of $16.49 and a 200-day simple moving average of $18.02. The firm has a market cap of $27.43 billion, a PE ratio of 10.36 and a beta of 2.02. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95. Cenovus Energy Inc. has a 12 month low of $14.69 and a 12 month high of $21.90.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly 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. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The company had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $10.25 billion. During the same quarter last year, the business earned $0.72 earnings per share. Cenovus Energy's revenue was down 17.9% on a year-over-year basis. As a group, equities research analysts expect that Cenovus Energy Inc. will post 1.48 earnings per share for the current fiscal 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 issued a dividend of $0.133 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Friday, December 13th. This is an increase from Cenovus Energy's previous quarterly dividend of $0.13. Cenovus Energy's dividend payout ratio is 36.55%.

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.