Cenovus Energy Inc. (NYSE:CVE) Shares Sold by Clarius Group LLC

Clarius Group LLC reduced its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 9.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,392 shares of the oil and gas company’s stock after selling 1,492 shares during the period. Clarius Group LLC’s holdings in Cenovus Energy were worth $241,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CVE. Banque Cantonale Vaudoise acquired a new position in Cenovus Energy in the 1st quarter worth $30,000. Wolff Wiese Magana LLC lifted its stake in shares of Cenovus Energy by 71.4% in the first quarter. Wolff Wiese Magana LLC now owns 2,400 shares of the oil and gas company’s stock worth $48,000 after acquiring an additional 1,000 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in Cenovus Energy by 124.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,558 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 1,417 shares during the last quarter. American National Bank acquired a new stake in Cenovus Energy during the 1st quarter valued at approximately $52,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in Cenovus Energy by 42.1% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 4,827 shares of the oil and gas company’s stock worth $96,000 after purchasing an additional 1,429 shares during the last quarter. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CVE. StockNews.com downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. TD Securities lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. Scotiabank cut 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 research note on Friday, July 12th. Finally, BMO Capital Markets decreased their price target on Cenovus Energy from $33.00 to $31.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Cenovus Energy currently has an average rating of “Moderate Buy” and a consensus target price of $30.75.

Cenovus Energy Trading Down 0.1 %

NYSE CVE opened at $17.85 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.66. Cenovus Energy Inc. has a one year low of $14.69 and a one year high of $21.90. The company has a 50-day simple moving average of $17.83 and a 200-day simple moving average of $19.29. The firm has a market capitalization of $32.79 billion, a PE ratio of 9.60 and a beta of 2.04.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Thursday, August 1st. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.13). The business 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%. On average, equities analysts forecast that Cenovus Energy Inc. will post 1.84 earnings per share for the current year.

Cenovus Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.132 per share. The ex-dividend date was Friday, September 13th. This represents a $0.53 dividend on an annualized basis and a yield of 2.96%. Cenovus Energy’s payout ratio is currently 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.