Cenovus Energy Inc. (NYSE:CVE) Holdings Cut by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd decreased its stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 35.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,512 shares of the oil and gas company’s stock after selling 1,358 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Cenovus Energy were worth $38,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new stake in Cenovus Energy in the 3rd quarter worth approximately $25,000. Sierra Ocean LLC purchased a new stake in Cenovus Energy in the 4th quarter worth approximately $67,000. Blue Trust Inc. lifted its position 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 worth $72,000 after buying an additional 1,677 shares in the last quarter. SevenBridge Financial Group LLC purchased a new stake in Cenovus Energy in the 3rd quarter worth approximately $162,000. Finally, Empirical Asset Management LLC purchased a new stake in Cenovus Energy in the 4th quarter worth approximately $174,000. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Performance

NYSE:CVE opened at $13.84 on Monday. Cenovus Energy Inc. has a 1 year low of $13.49 and a 1 year high of $21.90. The firm’s fifty day simple moving average is $14.93 and its 200 day simple moving average is $16.10. 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 has a market capitalization of $25.24 billion, a PE ratio of 11.43 and a beta of 1.99.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted 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 firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $11.08 billion. On average, sell-side analysts anticipate that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.1269 dividend. 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 3.67%. Cenovus Energy’s payout ratio is presently 40.50%.

Analyst Upgrades and Downgrades

CVE has been the topic of several analyst reports. Royal Bank of Canada dropped their price target on shares of Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. National Bank Financial lowered shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 21st. Finally, StockNews.com lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.