Natixis Advisors LLC Decreases Stake in Cenovus Energy Inc. (NYSE:CVE)

Natixis Advisors LLC lessened its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 14.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,750 shares of the oil and gas company’s stock after selling 17,157 shares during the period. Natixis Advisors LLC’s holdings in Cenovus Energy were worth $1,769,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. SVB Wealth LLC grew its position in shares of 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 in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake 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 worth $170,000 after acquiring an additional 643 shares during the last quarter. Cetera Advisors LLC raised its holdings 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 worth $327,000 after acquiring an additional 801 shares during the period. First Hawaiian Bank boosted its position in shares of Cenovus Energy by 1.6% during the 2nd quarter. First Hawaiian Bank now owns 69,273 shares of the oil and gas company’s stock valued at $1,362,000 after acquiring an additional 1,071 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings 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 valued at $226,000 after purchasing an additional 1,229 shares during the period. Institutional investors and hedge funds own 51.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. TD Securities lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, BMO Capital Markets cut their target price on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Two 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, Cenovus Energy presently has an average rating of “Moderate Buy” and an average price target of $30.00.

Cenovus Energy Stock Down 2.2 %

Shares of NYSE CVE opened at $15.84 on Tuesday. 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 is $16.72 and its two-hundred day moving average is $18.30. Cenovus Energy Inc. has a 52-week low of $14.69 and a 52-week high of $21.90. The firm has a market cap of $28.93 billion, a price-to-earnings ratio of 10.92 and a beta of 2.05.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.08. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $10.25 billion. During the same quarter in the previous year, the business earned $0.72 EPS. The company’s quarterly revenue was down 17.9% compared to the same quarter last year. Research analysts predict that Cenovus Energy Inc. will post 1.5 EPS for the current year.

Cenovus Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.133 dividend. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.53 annualized dividend and a dividend yield of 3.36%. Cenovus Energy’s dividend payout ratio (DPR) is presently 36.55%.

Cenovus Energy 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.