Schechter Investment Advisors LLC Sells 12,927 Shares of Cenovus Energy Inc. (NYSE:CVE)

Schechter Investment Advisors LLC reduced its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 35.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 24,049 shares of the oil and gas company’s stock after selling 12,927 shares during the period. Schechter Investment Advisors LLC’s holdings in Cenovus Energy were worth $364,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Truvestments Capital LLC bought a new stake in Cenovus Energy in the third quarter valued at approximately $25,000. Sierra Ocean LLC bought a new position in Cenovus Energy during the fourth quarter worth $67,000. Blue Trust Inc. increased its holdings in shares of Cenovus Energy by 54.7% in the fourth quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company’s stock valued at $72,000 after purchasing an additional 1,677 shares during the last quarter. SevenBridge Financial Group LLC bought a new position in shares of Cenovus Energy in the third quarter valued at about $162,000. Finally, Empirical Asset Management LLC acquired a new stake in shares of Cenovus Energy during the 4th quarter worth about $174,000. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Performance

Shares of NYSE:CVE opened at $12.35 on Thursday. Cenovus Energy Inc. has a 12-month low of $12.07 and a 12-month high of $21.90. The company’s 50 day moving average price is $14.85 and its two-hundred day moving average price is $16.00. The firm has a market cap of $22.52 billion, a PE ratio of 10.20 and a beta of 1.99. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24.

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 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. Equities research analysts predict that Cenovus Energy Inc. will post 1.49 earnings per share for the current year.

Cenovus Energy Cuts Dividend

The company also recently announced 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 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend is Friday, March 14th. Cenovus Energy’s dividend payout ratio is currently 40.50%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CVE. Royal Bank of Canada decreased their price target on shares of Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. National Bank Financial downgraded Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, February 21st. Finally, StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cenovus Energy presently has an average rating of “Moderate Buy” and an average target price 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.