Marshall Wace LLP Has $590,000 Stock Position in Cenovus Energy Inc. (NYSE:CVE)

Marshall Wace LLP reduced its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 98.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,005 shares of the oil and gas company’s stock after selling 2,058,513 shares during the period. Marshall Wace LLP’s holdings in Cenovus Energy were worth $590,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new stake in shares of Cenovus Energy in the 1st quarter valued at $30,000. Wolff Wiese Magana LLC lifted its position in shares of Cenovus Energy by 71.4% in the first quarter. Wolff Wiese Magana LLC now owns 2,400 shares of the oil and gas company’s stock worth $48,000 after buying an additional 1,000 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Cenovus Energy by 124.2% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 2,558 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 1,417 shares during the last quarter. American National Bank acquired a new position in shares of Cenovus Energy during the 1st quarter valued at about $52,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Cenovus Energy by 42.1% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 4,827 shares of the oil and gas company’s stock valued at $96,000 after acquiring an additional 1,429 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Stock Performance

NYSE:CVE opened at $17.60 on Thursday. The firm’s 50-day moving average is $17.85 and its 200-day moving average is $19.32. The company has a market cap of $32.72 billion, a price-to-earnings ratio of 9.78 and a beta of 2.04. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.66. Cenovus Energy Inc. has a 52-week low of $14.69 and a 52-week high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.13). Cenovus Energy had a net margin of 8.56% and a return on equity of 16.61%. The firm had revenue of $10.88 billion for the quarter, compared to the consensus estimate of $9.78 billion. Equities research analysts anticipate that Cenovus Energy Inc. will post 1.84 earnings per share for the current year.

Cenovus Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.132 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.00%. Cenovus Energy’s payout ratio is 29.44%.

Analysts Set New Price Targets

A number of research firms have recently commented on CVE. Scotiabank dropped their price target on shares of Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. TD Securities lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. BMO Capital Markets decreased their price target on shares of Cenovus Energy from $33.00 to $31.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Finally, StockNews.com downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cenovus Energy currently has an average rating of “Moderate Buy” and an average price target of $30.75.

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.