Cenovus Energy Inc. (NYSE:CVE) Shares Sold by Cravens & Co Advisors LLC

Cravens & Co Advisors LLC lessened its holdings in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 19.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,813 shares of the oil and gas company’s stock after selling 3,928 shares during the quarter. Cravens & Co Advisors LLC’s holdings in Cenovus Energy were worth $240,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Ontario Teachers Pension Plan Board raised its position in shares of Cenovus Energy by 81.6% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 568,698 shares of the oil and gas company’s stock worth $8,610,000 after acquiring an additional 255,561 shares in the last quarter. Guggenheim Capital LLC raised its holdings in Cenovus Energy by 4.5% during the fourth quarter. Guggenheim Capital LLC now owns 20,974 shares of the oil and gas company’s stock worth $318,000 after purchasing an additional 908 shares in the last quarter. DRW Securities LLC boosted its holdings in shares of Cenovus Energy by 80.1% in the 4th quarter. DRW Securities LLC now owns 71,507 shares of the oil and gas company’s stock valued at $1,083,000 after buying an additional 31,800 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Cenovus Energy in the 4th quarter valued at $3,649,000. Finally, Renaissance Technologies LLC raised its stake in Cenovus Energy by 36.3% during the 4th quarter. Renaissance Technologies LLC now owns 4,378,894 shares of the oil and gas company’s stock worth $66,340,000 after acquiring an additional 1,166,294 shares in the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.

Cenovus Energy Stock Down 2.2 %

Shares of NYSE:CVE opened at $11.30 on Wednesday. Cenovus Energy Inc. has a 12-month low of $10.23 and a 12-month high of $21.58. The stock’s 50-day moving average price is $13.47 and its two-hundred day moving average price is $14.97. 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 market cap of $20.61 billion, a price-to-earnings ratio of 9.34 and a beta of 1.46.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.27). The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. On average, research analysts forecast that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.1269 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.51 annualized dividend and a yield of 4.49%. Cenovus Energy’s dividend payout ratio is currently 40.50%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CVE shares. Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 target price on shares of Cenovus Energy in a research report on Friday, April 11th. Scotiabank raised Cenovus Energy to a “strong-buy” rating in a research note on Wednesday, March 19th. National Bank Financial cut Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 21st. StockNews.com cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Cenovus Energy in a report on Tuesday. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Cenovus Energy has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

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.