Capital International Ltd. CA Trims Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

Capital International Ltd. CA lowered its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 769,101 shares of the oil and gas company’s stock after selling 18,357 shares during the period. Capital International Ltd. CA’s holdings in Cenovus Energy were worth $11,658,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its stake in shares of Cenovus Energy by 105.0% during the 4th quarter. Franklin Resources Inc. now owns 4,337,551 shares of the oil and gas company’s stock worth $65,667,000 after purchasing an additional 2,221,549 shares during the last quarter. Geode Capital Management LLC boosted its position in Cenovus Energy by 29.2% during the fourth quarter. Geode Capital Management LLC now owns 8,287,334 shares of the oil and gas company’s stock worth $128,783,000 after acquiring an additional 1,873,415 shares during the last quarter. Renaissance Technologies LLC boosted its position in Cenovus Energy by 36.3% during the fourth 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 during the last quarter. Panview Capital Ltd purchased a new stake in Cenovus Energy in the 4th quarter worth approximately $16,741,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Cenovus Energy by 273.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,440,237 shares of the oil and gas company’s stock valued at $21,821,000 after acquiring an additional 1,054,483 shares during the last quarter. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Analyst Ratings Changes

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

Cenovus Energy Stock Up 3.9 %

CVE opened at $12.12 on Friday. Cenovus Energy Inc. has a 1 year low of $10.23 and a 1 year high of $21.58. The firm has a 50 day moving average price of $13.35 and a 200 day moving average price of $14.92. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. The company has a market cap of $22.09 billion, a PE ratio of 10.01 and a beta of 1.46.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.27). Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $11.08 billion. Sell-side analysts expect that Cenovus Energy Inc. will post 1.49 earnings per share for the current year.

Cenovus Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.1269 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.19%. Cenovus Energy’s dividend payout ratio (DPR) is currently 40.50%.

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.