Cenovus Energy Inc. (NYSE:CVE) Holdings Lowered by Clarius Group LLC

Clarius Group LLC reduced its stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 9.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,392 shares of the oil and gas company’s stock after selling 1,492 shares during the period. Clarius Group LLC’s holdings in Cenovus Energy were worth $241,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new stake in Cenovus Energy in the first quarter worth approximately $30,000. Wolff Wiese Magana LLC raised its stake in shares of Cenovus Energy by 71.4% in the 1st quarter. Wolff Wiese Magana LLC now owns 2,400 shares of the oil and gas company’s stock worth $48,000 after buying an additional 1,000 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Cenovus Energy by 124.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,558 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 1,417 shares during the period. American National Bank acquired a new stake in shares of Cenovus Energy in the first quarter valued at $52,000. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in Cenovus Energy by 42.1% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 4,827 shares of the oil and gas company’s stock valued at $96,000 after buying an additional 1,429 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CVE. Scotiabank cut their price target on shares of Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. BMO Capital Markets cut their target price on shares of Cenovus Energy from $33.00 to $31.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. TD Securities lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, StockNews.com downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

Cenovus Energy Stock Down 0.1 %

Shares of NYSE:CVE opened at $17.85 on Friday. Cenovus Energy Inc. has a 52 week low of $14.69 and a 52 week high of $21.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.66. The company has a market cap of $32.79 billion, a PE ratio of 9.60 and a beta of 2.04. The firm has a 50 day simple moving average of $17.83 and a 200 day simple moving average of $19.29.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Thursday, August 1st. The oil and gas company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.13). Cenovus Energy had a return on equity of 16.61% and a net margin of 8.56%. The business had revenue of $10.88 billion during the quarter, compared to analyst estimates of $9.78 billion. As a group, research analysts expect that Cenovus Energy Inc. will post 1.84 earnings per share for the current year.

Cenovus Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $0.132 per share. The ex-dividend date was Friday, September 13th. This represents a $0.53 annualized dividend and a yield of 2.96%. Cenovus Energy’s dividend payout ratio (DPR) is presently 28.49%.

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.