Cenovus Energy Inc. (NYSE:CVE) Shares Acquired by Intact Investment Management Inc.

Intact Investment Management Inc. increased its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 9.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,611,948 shares of the oil and gas company’s stock after purchasing an additional 225,550 shares during the period. Cenovus Energy makes up 1.4% of Intact Investment Management Inc.’s holdings, making the stock its 18th biggest position. Intact Investment Management Inc. owned approximately 0.14% of Cenovus Energy worth $39,588,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Aviso Financial Inc. lifted its position in Cenovus Energy by 33.7% during the fourth quarter. Aviso Financial Inc. now owns 12,671 shares of the oil and gas company’s stock valued at $192,000 after purchasing an additional 3,194 shares during the period. Commonwealth Equity Services LLC lifted its position in Cenovus Energy by 34.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 14,835 shares of the oil and gas company’s stock valued at $225,000 after purchasing an additional 3,827 shares during the period. Farther Finance Advisors LLC lifted its position in Cenovus Energy by 104.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 851 shares during the period. Sequoia Financial Advisors LLC lifted its position in Cenovus Energy by 19.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 19,966 shares of the oil and gas company’s stock valued at $302,000 after purchasing an additional 3,320 shares during the period. Finally, Net Worth Advisory Group acquired a new position in Cenovus Energy during the fourth quarter valued at $182,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Trading Down 1.2 %

Shares of Cenovus Energy stock opened at $13.07 on Friday. The firm has a 50-day simple moving average of $14.59 and a two-hundred day simple moving average of $15.76. The company has a market cap of $23.83 billion, a P/E ratio of 10.80 and a beta of 1.99. Cenovus Energy Inc. has a fifty-two week low of $12.07 and a fifty-two week high of $21.90. 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 (NYSE:CVE) (TSE:CVE) last released its quarterly 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 return on equity of 10.73% and a net margin of 5.82%. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $11.08 billion. As a group, equities analysts predict that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.1269 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.51 annualized dividend and a dividend yield of 3.88%. Cenovus Energy’s dividend payout ratio (DPR) is presently 40.50%.

Wall Street Analysts Forecast Growth

CVE has been the subject of a number of research reports. StockNews.com downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. National Bank Financial downgraded shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, February 21st. Finally, Royal Bank of Canada decreased their price objective on shares of Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.25.

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.