Cenovus Energy Inc. (NYSE:CVE) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC trimmed its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 93.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,717 shares of the oil and gas company’s stock after selling 684,748 shares during the period. International Assets Investment Management LLC’s holdings in Cenovus Energy were worth $700,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CVE. American Century Companies Inc. raised its position in Cenovus Energy by 8.0% in the second quarter. American Century Companies Inc. now owns 566,324 shares of the oil and gas company’s stock worth $11,132,000 after acquiring an additional 42,089 shares in the last quarter. CoreCap Advisors LLC acquired a new stake in shares of Cenovus Energy in the second quarter valued at about $348,000. Oppenheimer Asset Management Inc. boosted its holdings in Cenovus Energy by 8.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 92,252 shares of the oil and gas company’s stock worth $1,814,000 after buying an additional 7,401 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Cenovus Energy by 14.4% during the second quarter. Envestnet Asset Management Inc. now owns 927,005 shares of the oil and gas company’s stock worth $18,225,000 after buying an additional 116,877 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Cenovus Energy by 2.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,028,376 shares of the oil and gas company’s stock valued at $79,198,000 after buying an additional 107,367 shares in the last quarter. 51.19% of the stock is owned by institutional investors and hedge funds.

Cenovus Energy Trading Down 1.7 %

Shares of CVE stock opened at $15.33 on Friday. The company has a market capitalization of $27.98 billion, a price-to-earnings ratio of 10.57 and a beta of 2.01. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average price of $15.44 and a 200 day moving average price of $17.29. Cenovus Energy Inc. has a twelve month low of $14.20 and a twelve month high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.08. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $10.25 billion. During the same quarter in the previous year, the business posted $0.72 earnings per share. The company’s revenue was down 17.9% on a year-over-year basis. Research analysts forecast that Cenovus Energy Inc. will post 1.48 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a $0.133 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.47%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.13. Cenovus Energy’s payout ratio is currently 36.55%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CVE shares. Royal Bank of Canada restated an “outperform” rating and issued a $28.00 price target on shares of Cenovus Energy in a report on Monday. BMO Capital Markets dropped their price target on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. TD Securities cut shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, StockNews.com downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Cenovus Energy has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Cenovus Energy Company 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.