Private Advisor Group LLC Has $254,000 Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

Private Advisor Group LLC decreased its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 9.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,744 shares of the oil and gas company’s stock after selling 1,817 shares during the quarter. Private Advisor Group LLC’s holdings in Cenovus Energy were worth $254,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CVE. Wahed Invest LLC boosted its stake in shares of Cenovus Energy by 5.6% during the 3rd quarter. Wahed Invest LLC now owns 16,489 shares of the oil and gas company’s stock worth $276,000 after acquiring an additional 875 shares during the period. Montgomery Investment Management Inc. raised its holdings in shares of Cenovus Energy by 1.6% during the 4th quarter. Montgomery Investment Management Inc. now owns 56,535 shares of the oil and gas company’s stock worth $857,000 after buying an additional 894 shares in the last quarter. Harmony Asset Management LLC increased its holdings in Cenovus Energy by 8.1% in the 3rd quarter. Harmony Asset Management LLC now owns 13,400 shares of the oil and gas company’s stock worth $224,000 after purchasing an additional 1,000 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Cenovus Energy by 1.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 76,940 shares of the oil and gas company’s stock worth $1,287,000 after purchasing an additional 1,209 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in Cenovus Energy by 3.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 40,194 shares of the oil and gas company’s stock worth $672,000 after purchasing an additional 1,236 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Analyst Ratings Changes

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

Cenovus Energy Stock Up 2.4 %

Shares of NYSE:CVE opened at $12.66 on Friday. The business’s 50 day simple moving average is $14.80 and its two-hundred day simple moving average is $15.98. The firm has a market cap of $23.08 billion, a P/E ratio of 10.46 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. Cenovus Energy Inc. has a 52-week low of $12.07 and a 52-week high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, February 20th. The oil and gas company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.27). The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $11.08 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. As a group, research analysts forecast that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.1269 dividend. This represents a $0.51 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Friday, March 14th. Cenovus Energy’s dividend payout ratio (DPR) is presently 40.50%.

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.