Dakota Wealth Management Has $172,000 Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

Dakota Wealth Management trimmed its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 5.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,266 shares of the oil and gas company’s stock after selling 627 shares during the period. Dakota Wealth Management’s holdings in Cenovus Energy were worth $172,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CVE. Blue Trust Inc. raised its position in shares of Cenovus Energy by 640.3% in the 3rd quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 2,651 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Cenovus Energy by 8.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company’s stock worth $170,000 after buying an additional 643 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in Cenovus Energy during the 1st quarter worth approximately $205,000. Everpar Advisors LLC acquired a new stake in Cenovus Energy during the 2nd quarter worth approximately $211,000. Finally, First Trust Direct Indexing L.P. acquired a new stake in Cenovus Energy during the 1st quarter worth approximately $215,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CVE. BMO Capital Markets dropped their target price on shares of Cenovus Energy from $33.00 to $31.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Scotiabank dropped their target price on shares of Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. StockNews.com upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a report on Monday. Finally, TD Securities downgraded shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.75.

Cenovus Energy Trading Down 1.1 %

CVE stock opened at $16.48 on Wednesday. Cenovus Energy Inc. has a 52 week low of $14.69 and a 52 week high of $21.90. The company’s 50-day simple moving average is $17.37 and its 200 day simple moving average is $18.95. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.66. The company has a market capitalization of $30.15 billion, a PE ratio of 8.86 and a beta of 2.04.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Thursday, August 1st. The oil and gas company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.13). The company had revenue of $10.88 billion during the quarter, compared to the consensus estimate of $9.78 billion. Cenovus Energy had a return on equity of 16.61% and a net margin of 8.56%. As a group, sell-side analysts anticipate that Cenovus Energy Inc. will post 1.84 earnings per share for the current year.

Cenovus Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.132 per share. This represents a $0.53 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Friday, September 13th. Cenovus Energy’s dividend payout ratio is presently 28.49%.

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.