Crossmark Global Holdings Inc. Reduces Holdings in Cenovus Energy Inc. (NYSE:CVE)

Crossmark Global Holdings Inc. reduced its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 45.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,122 shares of the oil and gas company’s stock after selling 34,435 shares during the period. Crossmark Global Holdings Inc.’s holdings in Cenovus Energy were worth $704,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CVE. SVB Wealth LLC boosted its holdings in Cenovus Energy by 2.6% in the first quarter. SVB Wealth LLC now owns 19,710 shares of the oil and gas company’s stock valued at $394,000 after purchasing an additional 507 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Cenovus Energy by 8.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company’s stock valued at $170,000 after purchasing an additional 643 shares in the last quarter. Cetera Advisors LLC boosted its stake in shares of Cenovus Energy by 5.2% during the 1st quarter. Cetera Advisors LLC now owns 16,347 shares of the oil and gas company’s stock valued at $327,000 after buying an additional 801 shares during the last quarter. First Hawaiian Bank grew its position in shares of Cenovus Energy by 1.6% during the second quarter. First Hawaiian Bank now owns 69,273 shares of the oil and gas company’s stock worth $1,362,000 after buying an additional 1,071 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of Cenovus Energy by 12.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,496 shares of the oil and gas company’s stock worth $226,000 after buying an additional 1,229 shares during the last quarter. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Trading Down 1.4 %

Cenovus Energy stock opened at $15.63 on Friday. Cenovus Energy Inc. has a 1 year low of $14.69 and a 1 year high of $21.90. The firm’s 50-day moving average is $16.75 and its 200-day moving average is $18.52. 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 company has a market cap of $28.58 billion, a P/E ratio of 10.78 and a beta of 2.05.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. The firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $10.25 billion. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. Cenovus Energy’s revenue was down 17.9% on a year-over-year basis. During the same quarter last year, the company posted $0.72 earnings per share. On average, equities analysts expect that Cenovus Energy Inc. will post 1.5 earnings per share for the current year.

Cenovus Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.133 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.53 dividend on an annualized basis and a yield of 3.40%. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.13. Cenovus Energy’s payout ratio is currently 36.55%.

Analyst Upgrades and Downgrades

CVE has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. TD Securities downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, BMO Capital Markets lowered their price objective on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

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.