Cenovus Energy Inc. (NYSE:CVE) Stake Boosted by Corient Private Wealth LLC

Corient Private Wealth LLC raised its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 33.6% in the 4th quarter, Holdings Channel reports. The firm owned 69,627 shares of the oil and gas company’s stock after purchasing an additional 17,529 shares during the quarter. Corient Private Wealth LLC’s holdings in Cenovus Energy were worth $1,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in CVE. Alberta Investment Management Corp boosted its holdings in shares of Cenovus Energy by 10.1% in the 4th quarter. Alberta Investment Management Corp now owns 4,494,400 shares of the oil and gas company’s stock valued at $68,094,000 after buying an additional 411,000 shares during the period. Amundi grew its holdings in shares of Cenovus Energy by 1.7% during the fourth quarter. Amundi now owns 4,678,976 shares of the oil and gas company’s stock valued at $71,775,000 after purchasing an additional 77,548 shares during the last quarter. HITE Hedge Asset Management LLC bought a new position in shares of Cenovus Energy during the third quarter valued at approximately $11,569,000. Assenagon Asset Management S.A. raised its position in shares of Cenovus Energy by 1,289.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 430,781 shares of the oil and gas company’s stock worth $6,526,000 after purchasing an additional 399,787 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in shares of Cenovus Energy by 44.1% in the 3rd quarter. Two Sigma Advisers LP now owns 1,284,600 shares of the oil and gas company’s stock worth $21,491,000 after purchasing an additional 393,100 shares during the last quarter. Institutional investors own 51.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CVE shares. Morgan Stanley reiterated an “overweight” rating on shares of Cenovus Energy in a research note on Wednesday. National Bank Financial lowered shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 21st. Scotiabank upgraded shares of Cenovus Energy to a “strong-buy” rating in a research note on Wednesday, March 19th. StockNews.com downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. Finally, Royal Bank of Canada lowered their target price on Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.25.

Cenovus Energy Trading Down 1.0 %

Cenovus Energy stock opened at $14.22 on Thursday. Cenovus Energy Inc. has a 12-month low of $12.08 and a 12-month high of $21.90. The stock has a market capitalization of $25.92 billion, a PE ratio of 11.75 and a beta of 1.99. The firm has a 50 day simple moving average of $14.30 and a 200-day simple moving average of $15.46. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.27). The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. As a group, equities research analysts expect that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm 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 $0.1269 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Friday, March 14th. Cenovus Energy’s payout ratio is 40.50%.

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.