Cenovus Energy Inc. (NYSE:CVE) Stock Position Decreased by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lessened its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 34.9% in the third quarter, HoldingsChannel reports. The fund owned 37,588 shares of the oil and gas company’s stock after selling 20,124 shares during the period. Gateway Investment Advisers LLC’s holdings in Cenovus Energy were worth $629,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Banque Cantonale Vaudoise bought a new stake in Cenovus Energy during the first quarter worth approximately $30,000. Wolff Wiese Magana LLC boosted its position in Cenovus Energy by 71.4% during the 1st 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 during the period. Massmutual Trust Co. FSB ADV grew its position in Cenovus Energy by 124.2% during 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 in the last quarter. American National Bank acquired a new position in shares of Cenovus Energy in the first quarter worth $52,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Trading Down 0.1 %

Cenovus Energy stock opened at $17.85 on Monday. Cenovus Energy Inc. has a one year low of $14.69 and a one year high of $21.90. The company has a market cap of $33.19 billion, a price-to-earnings ratio of 9.92 and a beta of 2.04. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 1.00. The firm has a 50-day moving average of $17.83 and a 200-day moving average of $19.29.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Thursday, August 1st. The oil and gas company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.13). The business had revenue of $10.88 billion for 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 expect that Cenovus Energy Inc. will post 1.84 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $0.132 per share. The ex-dividend date of this dividend 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 29.44%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Scotiabank reduced their price objective on Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. BMO Capital Markets lowered their target price on shares of Cenovus Energy from $33.00 to $31.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Finally, TD Securities cut shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cenovus Energy currently has a consensus rating of “Moderate Buy” and an average target price of $30.75.

Cenovus Energy Company 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.