CoreCommodity Management LLC trimmed its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 85.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,650 shares of the oil and gas company’s stock after selling 134,200 shares during the period. CoreCommodity Management LLC’s holdings in Cenovus Energy were worth $159,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently bought and sold shares of CVE. Capital International Investors acquired a new stake in shares of Cenovus Energy during the third quarter worth $291,904,000. Capital Research Global Investors lifted its stake in shares of Cenovus Energy by 41.3% during the third quarter. Capital Research Global Investors now owns 22,825,232 shares of the oil and gas company’s stock worth $229,198,000 after buying an additional 6,672,019 shares during the period. Waratah Capital Advisors Ltd. acquired a new stake in shares of Cenovus Energy during the fourth quarter worth $14,645,000. Letko Brosseau & Associates Inc. lifted its stake in shares of Cenovus Energy by 3.6% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 41,302,859 shares of the oil and gas company’s stock worth $290,311,000 after buying an additional 1,440,030 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in shares of Cenovus Energy by 28.4% during the fourth quarter. Mackenzie Financial Corp now owns 6,431,119 shares of the oil and gas company’s stock worth $45,211,000 after buying an additional 1,421,284 shares during the period. Institutional investors and hedge funds own 77.22% of the company’s stock.
CVE has been the subject of several research reports. Morgan Stanley lowered their price objective on shares of Cenovus Energy from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 20th. Canaccord Genuity set a $13.00 price objective on shares of Cenovus Energy and gave the stock a “hold” rating in a research note on Tuesday, November 20th. CIBC reiterated a “buy” rating on shares of Cenovus Energy in a research note on Thursday, November 22nd. Tudor Pickering upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Monday, December 10th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Cenovus Energy in a research note on Tuesday, December 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $12.54.
NYSE CVE opened at $8.77 on Friday. The firm has a market cap of $10.78 billion, a P/E ratio of -5.04, a price-to-earnings-growth ratio of 4.05 and a beta of 0.79. Cenovus Energy Inc has a 1 year low of $6.15 and a 1 year high of $11.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 0.84.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Wednesday, February 13th. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.87). The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.78 billion. Cenovus Energy had a negative net margin of 12.41% and a negative return on equity of 15.71%. During the same quarter in the prior year, the firm earned ($0.42) earnings per share. On average, equities analysts predict that Cenovus Energy Inc will post 0.36 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.0377 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.15 dividend on an annualized basis and a yield of 1.72%. Cenovus Energy’s dividend payout ratio is presently -8.62%.
Cenovus Energy Company Profile
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.
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