HighTower Advisors LLC Sells 3,932 Shares of Cenovus Energy Inc. (NYSE:CVE)

HighTower Advisors LLC decreased its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 16.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,858 shares of the oil and gas company’s stock after selling 3,932 shares during the quarter. HighTower Advisors LLC’s holdings in Cenovus Energy were worth $301,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Anson Funds Management LP raised its stake in Cenovus Energy by 188.2% during the 3rd quarter. Anson Funds Management LP now owns 1,877,800 shares of the oil and gas company’s stock worth $31,405,000 after buying an additional 1,226,221 shares during the period. Panview Capital Ltd bought a new stake in Cenovus Energy during the fourth quarter worth $16,741,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Cenovus Energy by 273.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,440,237 shares of the oil and gas company’s stock worth $21,821,000 after buying an additional 1,054,483 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new stake in Cenovus Energy in the 3rd quarter valued at $11,569,000. Finally, Scheer Rowlett & Associates Investment Management Ltd. lifted its stake in Cenovus Energy by 19.7% during the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,786,011 shares of the oil and gas company’s stock valued at $57,317,000 after acquiring an additional 622,977 shares in the last quarter. 51.19% of the stock is owned by institutional investors.

Cenovus Energy Trading Up 0.7 %

Shares of CVE opened at $14.01 on Wednesday. Cenovus Energy Inc. has a twelve month low of $12.08 and a twelve month high of $21.90. The stock has a market cap of $25.53 billion, a PE ratio of 11.57 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. The business’s 50-day moving average price is $14.22 and its 200-day moving average price is $15.38.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results 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 firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. On average, equities analysts forecast that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.1269 per share. This represents a $0.51 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend was Friday, March 14th. Cenovus Energy’s payout ratio is 40.50%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. Royal Bank of Canada lowered their target price on Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Morgan Stanley restated an “overweight” rating on shares of Cenovus Energy in a report on Wednesday, March 26th. National Bank Financial downgraded shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, February 21st. Finally, Scotiabank upgraded Cenovus Energy to a “strong-buy” rating in a research note on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Cenovus Energy has an average rating of “Moderate Buy” and a consensus target price of $29.00.

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.