Natixis Advisors LLC Decreases Stock Position in Cenovus Energy Inc. (NYSE:CVE)

Natixis Advisors LLC trimmed its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 14.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,750 shares of the oil and gas company’s stock after selling 17,157 shares during the quarter. Natixis Advisors LLC’s holdings in Cenovus Energy were worth $1,769,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Boston Partners grew its position in shares of Cenovus Energy by 29.0% during the first quarter. Boston Partners now owns 37,540,511 shares of the oil and gas company’s stock worth $750,435,000 after buying an additional 8,438,979 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in Cenovus Energy by 81.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 12,538,499 shares of the oil and gas company’s stock worth $246,507,000 after acquiring an additional 5,613,320 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Cenovus Energy by 5.3% in the 2nd quarter. Mackenzie Financial Corp now owns 11,186,227 shares of the oil and gas company’s stock valued at $219,897,000 after purchasing an additional 562,663 shares during the last quarter. Ninepoint Partners LP raised its holdings in shares of Cenovus Energy by 19.0% in the 2nd quarter. Ninepoint Partners LP now owns 7,500,000 shares of the oil and gas company’s stock valued at $147,450,000 after purchasing an additional 1,200,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Cenovus Energy by 22,396.6% during the second quarter. Assenagon Asset Management S.A. now owns 7,429,036 shares of the oil and gas company’s stock worth $146,054,000 after purchasing an additional 7,396,013 shares in the last quarter. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Down 2.2 %

Cenovus Energy stock opened at $15.84 on Tuesday. The company has a market capitalization of $28.93 billion, a P/E ratio of 10.92 and a beta of 2.05. 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 Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $21.90. The stock has a 50-day simple moving average of $16.72 and a 200-day simple moving average of $18.30.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.08. The company had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $10.25 billion. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. Equities research analysts expect that Cenovus Energy Inc. will post 1.5 earnings per share for the current year.

Cenovus Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.133 per share. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Friday, December 13th. Cenovus Energy’s dividend payout ratio (DPR) is presently 36.55%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. TD Securities cut Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, BMO Capital Markets lowered their price target on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

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.