Scotia Capital Inc. Sells 603,622 Shares of Cenovus Energy Inc. (NYSE:CVE)

Scotia Capital Inc. trimmed its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 34.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,142,453 shares of the oil and gas company’s stock after selling 603,622 shares during the quarter. Scotia Capital Inc. owned approximately 0.06% of Cenovus Energy worth $17,315,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. XTX Topco Ltd bought a new position in shares of Cenovus Energy in the 3rd quarter worth $496,000. MML Investors Services LLC grew its stake in Cenovus Energy by 17.7% in the third quarter. MML Investors Services LLC now owns 38,768 shares of the oil and gas company’s stock valued at $649,000 after purchasing an additional 5,828 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Cenovus Energy in the third quarter worth about $4,023,000. Geode Capital Management LLC lifted its position in shares of Cenovus Energy by 9.7% during the third quarter. Geode Capital Management LLC now owns 6,413,919 shares of the oil and gas company’s stock valued at $109,232,000 after buying an additional 568,732 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in shares of 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 valued at $672,000 after buying an additional 1,236 shares in the last quarter. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Price Performance

Shares of CVE opened at $11.09 on Friday. The business’s 50-day moving average is $13.68 and its two-hundred day moving average is $15.08. The company has a market capitalization of $20.21 billion, a P/E ratio of 9.16 and a beta of 1.46. Cenovus Energy Inc. has a fifty-two week low of $10.23 and a fifty-two week high of $21.90. 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 (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.27). The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. Research analysts predict that Cenovus Energy Inc. will post 1.49 earnings per share for the current year.

Cenovus Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.1269 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a yield of 4.58%. Cenovus Energy’s payout ratio is 40.50%.

Wall Street Analyst Weigh In

CVE has been the subject of a number of analyst reports. Morgan Stanley reissued an “overweight” rating on shares of Cenovus Energy in a research report on Wednesday, March 26th. Scotiabank raised Cenovus Energy to a “strong-buy” rating in a research report on Wednesday, March 19th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price target on shares of Cenovus Energy in a research note on Wednesday, April 2nd. National Bank Financial cut shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, February 21st. Finally, StockNews.com downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. Three 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. Based on data from MarketBeat.com, Cenovus Energy currently has an average rating of “Moderate Buy” and an average 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.