Wexford Capital LP Sells 43,962 Shares of Cenovus Energy Inc. (NYSE:CVE)

Wexford Capital LP lowered its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 568,466 shares of the oil and gas company’s stock after selling 43,962 shares during the quarter. Cenovus Energy makes up about 1.4% of Wexford Capital LP’s holdings, making the stock its 8th biggest position. Wexford Capital LP’s holdings in Cenovus Energy were worth $8,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital World Investors raised its holdings in Cenovus Energy by 15.8% during the fourth quarter. Capital World Investors now owns 191,412,590 shares of the oil and gas company’s stock worth $2,901,131,000 after purchasing an additional 26,127,617 shares in the last quarter. Capital International Investors increased its holdings in shares of Cenovus Energy by 0.7% in the 4th quarter. Capital International Investors now owns 53,572,829 shares of the oil and gas company’s stock valued at $811,769,000 after acquiring an additional 382,519 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Cenovus Energy by 48.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 13,001,002 shares of the oil and gas company’s stock valued at $196,935,000 after acquiring an additional 4,220,663 shares during the period. Geode Capital Management LLC increased its holdings in shares of Cenovus Energy by 29.2% in the 4th quarter. Geode Capital Management LLC now owns 8,287,334 shares of the oil and gas company’s stock valued at $128,783,000 after acquiring an additional 1,873,415 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Cenovus Energy by 3.6% in the 4th quarter. Invesco Ltd. now owns 8,043,884 shares of the oil and gas company’s stock valued at $121,865,000 after acquiring an additional 276,023 shares during the period. Institutional investors and hedge funds own 51.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CVE shares. Scotiabank upgraded shares of Cenovus Energy to a “strong-buy” rating in a research report on Wednesday, March 19th. National Bankshares reiterated a “sector perform” rating on shares of Cenovus Energy in a research report on Friday, April 25th. National Bank Financial lowered shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, February 21st. Morgan Stanley reiterated an “overweight” rating on shares of Cenovus Energy in a research report on Tuesday, April 15th. Finally, Veritas lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 14th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cenovus Energy currently has a consensus rating of “Moderate Buy” and an average price target of $25.75.

Cenovus Energy Price Performance

Cenovus Energy stock opened at $13.72 on Monday. Cenovus Energy Inc. has a 52 week low of $10.23 and a 52 week high of $21.08. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The firm’s 50-day simple moving average is $12.68 and its 200 day simple moving average is $14.20. The firm has a market capitalization of $25.00 billion, a PE ratio of 11.33 and a beta of 0.95.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The company had revenue of $11.15 billion for the quarter, compared to analyst estimates of $12.39 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. During the same period in the prior year, the firm earned $0.62 EPS. On average, equities research analysts predict that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.1269 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date was Friday, March 14th. Cenovus Energy’s dividend payout ratio is currently 51.40%.

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.