Cenovus Energy Inc. (NYSE:CVE) Shares Sold by Lingohr Asset Management GmbH

Lingohr Asset Management GmbH lessened its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 12.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,387 shares of the oil and gas company’s stock after selling 4,889 shares during the period. Lingohr Asset Management GmbH’s holdings in Cenovus Energy were worth $510,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swiss National Bank lifted its stake in shares of Cenovus Energy by 0.4% in the third quarter. Swiss National Bank now owns 4,211,235 shares of the oil and gas company’s stock worth $70,546,000 after buying an additional 17,900 shares in the last quarter. Pathstone Holdings LLC increased its holdings in shares of Cenovus Energy by 46.6% in the third quarter. Pathstone Holdings LLC now owns 110,440 shares of the oil and gas company’s stock valued at $1,848,000 after purchasing an additional 35,105 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Cenovus Energy by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 76,940 shares of the oil and gas company’s stock worth $1,287,000 after buying an additional 1,209 shares in the last quarter. Jennison Associates LLC acquired a new position in Cenovus Energy during the third quarter worth $11,324,000. Finally, Ontario Teachers Pension Plan Board grew its holdings in Cenovus Energy by 94.7% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 313,137 shares of the oil and gas company’s stock valued at $5,237,000 after buying an additional 152,329 shares in the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CVE. StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. National Bank Financial downgraded shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 21st. Finally, Royal Bank of Canada dropped their price target on shares of Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cenovus Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.25.

Cenovus Energy Trading Up 2.1 %

Shares of CVE stock opened at $13.90 on Thursday. The company has a 50-day moving average of $14.40 and a two-hundred day moving average of $15.57. The firm has a market cap of $25.33 billion, a PE ratio of 11.48 and a beta of 1.99. Cenovus Energy Inc. has a 1-year low of $12.08 and a 1-year high of $21.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.27). Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $11.08 billion. On average, analysts predict that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.1269 per share. This represents a $0.51 annualized dividend and a yield of 3.65%. The ex-dividend date is Friday, March 14th. Cenovus Energy’s payout ratio is 40.50%.

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.