Cenovus Energy Inc. (NYSE:CVE) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC cut its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 93.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,717 shares of the oil and gas company’s stock after selling 684,748 shares during the quarter. International Assets Investment Management LLC’s holdings in Cenovus Energy were worth $700,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. 1832 Asset Management L.P. increased its position in shares of Cenovus Energy by 81.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 12,538,499 shares of the oil and gas company’s stock valued at $246,507,000 after purchasing an additional 5,613,320 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Cenovus Energy by 2,236.1% in the second quarter. Canada Pension Plan Investment Board now owns 4,610,779 shares of the oil and gas company’s stock valued at $90,608,000 after buying an additional 4,413,405 shares in the last quarter. Smead Capital Management Inc. lifted its holdings in Cenovus Energy by 39.3% during the 3rd quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company’s stock worth $257,831,000 after buying an additional 4,351,960 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Cenovus Energy by 4,319.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,218,376 shares of the oil and gas company’s stock worth $43,609,000 after acquiring an additional 2,168,176 shares in the last quarter. Finally, Bridgewater Associates LP purchased a new position in shares of Cenovus Energy in the 3rd quarter valued at about $33,995,000. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. TD Securities downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. Royal Bank of Canada restated an “outperform” rating and issued a $28.00 target price on shares of Cenovus Energy in a report on Monday. BMO Capital Markets reduced their price target on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Cenovus Energy presently has an average rating of “Moderate Buy” and an average target price of $30.00.

Cenovus Energy Trading Down 1.7 %

NYSE CVE opened at $15.33 on Friday. The firm’s fifty day moving average is $15.44 and its two-hundred day moving average is $17.29. Cenovus Energy Inc. has a one year low of $14.20 and a one year 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. The firm has a market cap of $27.98 billion, a PE ratio of 10.57 and a beta of 2.01.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.08. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $10.25 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. Analysts expect that Cenovus Energy Inc. will post 1.48 earnings per share for the current year.

Cenovus Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $0.133 per share. The ex-dividend date of this dividend was Friday, December 13th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a dividend yield of 3.47%. Cenovus Energy’s dividend payout ratio (DPR) is currently 36.55%.

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.