Cenovus Energy Inc. (NYSE:CVE) Position Boosted by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 19.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,966 shares of the oil and gas company’s stock after buying an additional 3,320 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Cenovus Energy were worth $302,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CVE. Swiss National Bank lifted its stake in Cenovus Energy by 0.4% during the third quarter. Swiss National Bank now owns 4,211,235 shares of the oil and gas company’s stock valued at $70,546,000 after buying an additional 17,900 shares in the last quarter. Pathstone Holdings LLC lifted its stake in Cenovus Energy by 46.6% during the third quarter. Pathstone Holdings LLC now owns 110,440 shares of the oil and gas company’s stock valued at $1,848,000 after buying an additional 35,105 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Cenovus Energy by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 76,940 shares of the oil and gas company’s stock valued at $1,287,000 after buying an additional 1,209 shares in the last quarter. Jennison Associates LLC purchased a new stake in Cenovus Energy during the third quarter valued at about $11,324,000. Finally, Ontario Teachers Pension Plan Board lifted its position in shares of Cenovus Energy by 94.7% in the third quarter. Ontario Teachers Pension Plan Board now owns 313,137 shares of the oil and gas company’s stock worth $5,237,000 after purchasing an additional 152,329 shares in the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.

Cenovus Energy Trading Up 2.1 %

NYSE:CVE opened at $13.90 on Thursday. The stock’s 50 day moving average price is $14.40 and its 200 day moving average price is $15.57. Cenovus Energy Inc. has a 52 week low of $12.08 and a 52 week high of $21.90. The company has a market capitalization of $25.33 billion, a P/E ratio of 11.48 and a beta of 1.99. 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 data on Thursday, February 20th. The oil and gas company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.27). Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $11.08 billion. On average, research analysts forecast that Cenovus Energy Inc. will post 1.49 EPS 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. Shareholders of record on Friday, March 14th will be issued a dividend of $0.1269 per share. The ex-dividend date is Friday, March 14th. This represents a $0.51 annualized dividend and a yield of 3.65%. Cenovus Energy’s dividend payout ratio (DPR) is presently 40.50%.

Analyst Ratings Changes

CVE has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their price target 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. 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. Finally, StockNews.com lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.