Wellington Management Group LLP Sells 5,131,906 Shares of Cenovus Energy Inc. (NYSE:CVE)

Wellington Management Group LLP decreased its holdings in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 46.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,982,343 shares of the oil and gas company's stock after selling 5,131,906 shares during the quarter. Wellington Management Group LLP owned 0.33% of Cenovus Energy worth $90,637,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Amundi raised its position in shares of Cenovus Energy by 1.7% in the fourth quarter. Amundi now owns 4,678,976 shares of the oil and gas company's stock valued at $71,775,000 after buying an additional 77,548 shares in the last quarter. Alberta Investment Management Corp raised its holdings in Cenovus Energy by 10.1% in the 4th quarter. Alberta Investment Management Corp now owns 4,494,400 shares of the oil and gas company's stock valued at $68,094,000 after acquiring an additional 411,000 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Cenovus Energy during the 4th quarter valued at $3,649,000. Assenagon Asset Management S.A. grew its holdings in shares of Cenovus Energy by 1,289.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 430,781 shares of the oil and gas company's stock worth $6,526,000 after purchasing an additional 399,787 shares in the last quarter. Finally, Korea Investment CORP raised its stake in Cenovus Energy by 67.5% in the fourth quarter. Korea Investment CORP now owns 1,517,768 shares of the oil and gas company's stock valued at $22,996,000 after purchasing an additional 611,400 shares in the last quarter. Institutional investors own 51.19% of the company's stock.

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Cenovus Energy Price Performance

Cenovus Energy stock traded down $0.06 during mid-day trading on Monday, reaching $11.19. The company had a trading volume of 14,645,020 shares, compared to its average volume of 8,619,810. The business has a fifty day simple moving average of $14.02 and a 200 day simple moving average of $15.26. The company has a market cap of $20.40 billion, a P/E ratio of 9.25 and a beta of 1.46. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. Cenovus Energy Inc. has a fifty-two week low of $10.58 and a fifty-two week high of $21.90.

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). Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $11.08 billion. On average, equities research analysts predict 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 annualized dividend 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%.

Analyst Ratings Changes

A number of brokerages have issued reports on CVE. Royal Bank of Canada reiterated an "outperform" rating and set a $25.00 price objective on shares of Cenovus Energy in a research note on Wednesday, April 2nd. Scotiabank upgraded shares of Cenovus Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. StockNews.com cut shares of Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. National Bank Financial cut Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a research note on Wednesday, March 26th. Three research 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 has an average rating of "Moderate Buy" and a consensus target price of $29.00.

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.