Ritholtz Wealth Management Lowers Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

Ritholtz Wealth Management lessened its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 19.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,512 shares of the oil and gas company’s stock after selling 3,165 shares during the quarter. Ritholtz Wealth Management’s holdings in Cenovus Energy were worth $205,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new stake in Cenovus Energy during the third quarter worth about $25,000. Blue Trust Inc. increased its stake in Cenovus Energy by 640.3% during the 3rd quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock worth $51,000 after buying an additional 2,651 shares during the period. SevenBridge Financial Group LLC acquired a new stake in Cenovus Energy during the 3rd quarter worth approximately $162,000. Northwestern Mutual Wealth Management Co. boosted its position in Cenovus Energy by 8.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company’s stock valued at $170,000 after buying an additional 643 shares during the period. Finally, FCG Investment Co acquired a new position in shares of Cenovus Energy in the third quarter worth $211,000. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Trading Down 0.2 %

CVE opened at $14.96 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. Cenovus Energy Inc. has a one year low of $14.20 and a one year high of $21.90. The company has a market cap of $27.31 billion, a P/E ratio of 10.32 and a beta of 2.01. The business’s 50-day simple moving average is $15.28 and its 200-day simple moving average is $16.98.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.34 by $0.08. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $10.25 billion. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. The firm’s revenue was down 17.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 earnings per share. As a group, equities research analysts expect that Cenovus Energy Inc. will post 1.41 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a dividend of $0.133 per share. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Friday, December 13th. Cenovus Energy’s dividend payout ratio (DPR) is currently 35.17%.

Wall Street Analyst Weigh In

CVE has been the topic of several analyst reports. BMO Capital Markets reduced their price objective on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $28.00 price target on shares of Cenovus Energy in a research report on Monday, January 6th. StockNews.com downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. Finally, TD Securities cut shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Cenovus Energy currently has an average rating of “Moderate Buy” and an average 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.