Marshall Wace LLP Lowers Position in Cenovus Energy Inc. (NYSE:CVE)

Marshall Wace LLP decreased its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 3.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,570,945 shares of the oil and gas company’s stock after selling 50,529 shares during the period. Marshall Wace LLP owned 0.09% of Cenovus Energy worth $23,800,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CVE. Franklin Resources Inc. increased its holdings in shares of Cenovus Energy by 105.0% in the 4th quarter. Franklin Resources Inc. now owns 4,337,551 shares of the oil and gas company’s stock valued at $65,667,000 after acquiring an additional 2,221,549 shares during the period. Geode Capital Management LLC grew its stake in Cenovus Energy by 29.2% in the fourth quarter. Geode Capital Management LLC now owns 8,287,334 shares of the oil and gas company’s stock valued at $128,783,000 after purchasing an additional 1,873,415 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Cenovus Energy by 36.3% in the fourth quarter. Renaissance Technologies LLC now owns 4,378,894 shares of the oil and gas company’s stock worth $66,340,000 after purchasing an additional 1,166,294 shares in the last quarter. Panview Capital Ltd purchased a new stake in shares of Cenovus Energy during the fourth quarter valued at about $16,741,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cenovus Energy by 273.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,440,237 shares of the oil and gas company’s stock valued at $21,821,000 after buying an additional 1,054,483 shares in the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.

Cenovus Energy Stock Performance

Shares of CVE stock opened at $12.12 on Friday. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. Cenovus Energy Inc. has a 12-month low of $10.23 and a 12-month high of $21.58. The business’s 50 day moving average is $13.28 and its two-hundred day moving average is $14.86. The company has a market capitalization of $22.08 billion, a P/E ratio of 10.01 and a beta of 1.46.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its 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). Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $11.08 billion. Analysts expect that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.1269 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.51 annualized dividend and a dividend yield of 4.19%. Cenovus Energy’s dividend payout ratio (DPR) is 40.50%.

Analyst Ratings Changes

CVE has been the subject of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 target price on shares of Cenovus Energy in a research note on Friday, April 11th. National Bank Financial lowered shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, February 21st. Scotiabank upgraded Cenovus Energy to a “strong-buy” rating in a research report on Wednesday, March 19th. Morgan Stanley reissued an “overweight” rating on shares of Cenovus Energy in a report on Tuesday. Finally, StockNews.com downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

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.