Blue Trust Inc. Raises Position in Cenovus Energy Inc. (NYSE:CVE)

Blue Trust Inc. increased its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 54.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,742 shares of the oil and gas company’s stock after buying an additional 1,677 shares during the quarter. Blue Trust Inc.’s holdings in Cenovus Energy were worth $72,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Smead Capital Management Inc. grew its stake in Cenovus Energy by 39.3% in the third quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company’s stock worth $257,831,000 after purchasing an additional 4,351,960 shares in the last quarter. Bridgewater Associates LP bought a new position in shares of Cenovus Energy in the third quarter valued at $33,995,000. Anson Funds Management LP increased its holdings in shares of Cenovus Energy by 188.2% in the third quarter. Anson Funds Management LP now owns 1,877,800 shares of the oil and gas company’s stock valued at $31,405,000 after buying an additional 1,226,221 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Cenovus Energy by 23.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,980,853 shares of the oil and gas company’s stock worth $83,330,000 after purchasing an additional 952,477 shares in the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. grew its position in Cenovus Energy by 33.3% during the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,163,034 shares of the oil and gas company’s stock worth $52,896,000 after purchasing an additional 789,569 shares in the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.

Cenovus Energy Trading Down 4.5 %

Shares of Cenovus Energy stock opened at $14.61 on Monday. The firm has a market capitalization of $26.64 billion, a PE ratio of 12.07 and a beta of 1.99. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The firm’s 50 day moving average is $14.99 and its 200 day moving average is $16.27. Cenovus Energy Inc. has a 1 year low of $13.76 and a 1 year high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data 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). The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. Equities research analysts forecast that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.1269 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.51 annualized dividend and a dividend yield of 3.47%. Cenovus Energy’s dividend payout ratio is currently 42.15%.

Wall Street Analysts Forecast Growth

CVE has been the topic of several research analyst reports. National Bank Financial cut shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday. StockNews.com cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. BMO Capital Markets decreased their price objective on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Royal Bank of Canada reduced their target price on shares of Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Friday. Three investment 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 has an average rating of “Moderate Buy” and an average price target of $29.25.

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.