Cenovus Energy Inc. (NYSE:CVE) Holdings Trimmed by Shell Asset Management Co.

Shell Asset Management Co. lowered its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,261 shares of the oil and gas company’s stock after selling 1,000 shares during the quarter. Shell Asset Management Co.’s holdings in Cenovus Energy were worth $686,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CVE. Farther Finance Advisors LLC lifted 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 purchasing an additional 851 shares during the last quarter. Sierra Ocean LLC purchased a new stake in Cenovus Energy in the 4th quarter worth about $67,000. Blue Trust Inc. lifted its stake in Cenovus Energy by 54.7% in the 4th quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company’s stock worth $72,000 after acquiring an additional 1,677 shares in the last quarter. Natixis purchased a new stake in Cenovus Energy in the 4th quarter worth about $98,000. Finally, Black Maple Capital Management LP purchased a new stake in Cenovus Energy in the 4th quarter worth about $167,000. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Up 0.5%

CVE opened at $13.72 on Monday. 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 company has a market capitalization of $25.00 billion, a PE ratio of 11.33 and a beta of 0.95. The business has a 50-day moving average of $12.68 and a 200-day moving average of $14.20. Cenovus Energy Inc. has a fifty-two week low of $10.23 and a fifty-two week high of $21.08.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, May 8th. The oil and gas company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The business had revenue of $11.15 billion for the quarter, compared to analyst estimates of $12.39 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. During the same quarter in the prior year, the firm posted $0.62 EPS. Equities research analysts forecast that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.1269 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend was Friday, March 14th. Cenovus Energy’s dividend payout ratio is 51.40%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVE. Veritas downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 14th. 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 Friday, April 11th. Morgan Stanley reissued an “overweight” rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. National Bankshares reaffirmed a “sector perform” rating on shares of Cenovus Energy in a research note on Friday, April 25th. Finally, National Bank Financial downgraded Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 21st. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.75.

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.