Cenovus Energy Inc. (NYSE:CVE) Holdings Reduced by Dynasty Wealth Management LLC

Dynasty Wealth Management LLC decreased its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 67.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,320 shares of the oil and gas company’s stock after selling 51,858 shares during the period. Dynasty Wealth Management LLC’s holdings in Cenovus Energy were worth $384,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVE. Truvestments Capital LLC bought a new position in Cenovus Energy in the 3rd quarter worth approximately $25,000. Blue Trust Inc. grew its stake in shares of Cenovus Energy by 640.3% in the third quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 2,651 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of Cenovus Energy in the fourth quarter worth $67,000. SevenBridge Financial Group LLC bought a new position in Cenovus Energy in the 3rd quarter valued at about $162,000. Finally, Empirical Asset Management LLC bought a new position in Cenovus Energy in the 4th quarter valued at about $174,000. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Price Performance

Shares of NYSE:CVE opened at $13.84 on Friday. The company has a market capitalization of $25.24 billion, a PE ratio of 11.43 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. The stock has a fifty day moving average of $14.93 and a 200-day moving average of $16.15. Cenovus Energy Inc. has a one year low of $13.49 and a one year high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (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 company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $11.08 billion. As a group, equities analysts anticipate that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.1269 per share. This represents a $0.51 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Friday, March 14th. Cenovus Energy’s dividend payout ratio is presently 40.50%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. BMO Capital Markets decreased their target price 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. StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. Royal Bank of Canada decreased their price target on Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Finally, National Bank Financial lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 21st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $29.25.

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.