Intech Investment Management LLC Reduces Holdings in Cenovus Energy Inc. (NYSE:CVE)

Intech Investment Management LLC trimmed its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 13.1% in the 4th quarter, Holdings Channel reports. The firm owned 905,704 shares of the oil and gas company’s stock after selling 136,172 shares during the period. Intech Investment Management LLC’s holdings in Cenovus Energy were worth $13,722,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CVE. Truvestments Capital LLC purchased a new stake in Cenovus Energy in the 3rd quarter valued at $25,000. Farther Finance Advisors LLC grew its holdings in Cenovus Energy by 104.9% in the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 851 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Cenovus Energy in the 4th quarter valued at $67,000. Blue Trust Inc. grew its holdings in Cenovus Energy by 54.7% in the 4th quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company’s stock valued at $72,000 after buying an additional 1,677 shares in the last quarter. Finally, SevenBridge Financial Group LLC acquired a new position in shares of Cenovus Energy in the 3rd quarter valued at $162,000. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Cenovus Energy Trading Up 1.1 %

NYSE:CVE opened at $13.64 on Tuesday. The stock’s 50 day moving average price is $14.47 and its 200 day moving average price is $15.62. The company has a market capitalization of $24.86 billion, a PE ratio of 11.27 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. Cenovus Energy Inc. has a 52-week low of $12.08 and a 52-week high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released 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 firm had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $11.08 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. On average, research analysts anticipate that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.1269 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a yield of 3.72%. Cenovus Energy’s payout ratio is 40.50%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Royal Bank of Canada decreased their price target 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. StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. Finally, National Bank Financial downgraded Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $29.25.

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.