Aigen Investment Management LP Has $219,000 Stake in Cenovus Energy Inc. (NYSE:CVE)

Aigen Investment Management LP reduced its holdings in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 23.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,470 shares of the oil and gas company’s stock after selling 4,348 shares during the period. Aigen Investment Management LP’s holdings in Cenovus Energy were worth $219,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wahed Invest LLC raised its position in shares of Cenovus Energy by 5.6% during the 3rd quarter. Wahed Invest LLC now owns 16,489 shares of the oil and gas company’s stock valued at $276,000 after acquiring an additional 875 shares during the last quarter. Montgomery Investment Management Inc. grew its stake in shares of Cenovus Energy by 1.6% during the fourth quarter. Montgomery Investment Management Inc. now owns 56,535 shares of the oil and gas company’s stock worth $857,000 after purchasing an additional 894 shares during the period. Harmony Asset Management LLC increased its holdings in Cenovus Energy by 8.1% in the third quarter. Harmony Asset Management LLC now owns 13,400 shares of the oil and gas company’s stock valued at $224,000 after purchasing an additional 1,000 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Cenovus Energy by 1.6% in the third quarter. PNC Financial Services Group Inc. now owns 76,940 shares of the oil and gas company’s stock valued at $1,287,000 after buying an additional 1,209 shares during the period. Finally, TD Private Client Wealth LLC boosted its holdings in Cenovus Energy by 3.2% during the third quarter. TD Private Client Wealth LLC now owns 40,194 shares of the oil and gas company’s stock worth $672,000 after buying an additional 1,236 shares during the last quarter. 51.19% of the stock is owned by institutional investors.

Cenovus Energy Price Performance

NYSE CVE opened at $12.72 on Monday. 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 52-week low of $12.07 and a 52-week high of $21.90. The business has a 50 day simple moving average of $14.72 and a 200 day simple moving average of $15.86. The stock has a market cap of $23.19 billion, a price-to-earnings ratio of 10.51 and a beta of 1.99.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.27). The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $11.08 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. Analysts anticipate that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.1269 dividend. This represents a $0.51 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend is Friday, March 14th. Cenovus Energy’s dividend payout ratio is 40.50%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Royal Bank of Canada lowered their price target on Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. National Bank Financial downgraded shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 21st. Finally, StockNews.com cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $29.25.

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.