Cenovus Energy Inc. (NYSE:CVE) Position Reduced by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd trimmed its stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 51.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,786 shares of the oil and gas company’s stock after selling 58,920 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Cenovus Energy were worth $830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Alberta Investment Management Corp lifted its position in shares of Cenovus Energy by 10.1% in the fourth quarter. Alberta Investment Management Corp now owns 4,494,400 shares of the oil and gas company’s stock worth $68,094,000 after purchasing an additional 411,000 shares in the last quarter. Smead Capital Management Inc. lifted its position in shares of 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. HITE Hedge Asset Management LLC purchased a new stake in shares of Cenovus Energy in the third quarter worth approximately $11,569,000. Entropy Technologies LP purchased a new stake in shares of Cenovus Energy in the third quarter worth approximately $3,472,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Cenovus Energy by 1,289.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 430,781 shares of the oil and gas company’s stock worth $6,526,000 after purchasing an additional 399,787 shares in the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. BMO Capital Markets cut 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 report on Friday, November 1st. National Bank Financial lowered shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, February 21st. Finally, Royal Bank of Canada cut their price objective 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, February 21st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Cenovus Energy has an average rating of “Moderate Buy” and a consensus price target of $29.25.

Cenovus Energy Trading Down 1.3 %

Shares of CVE stock opened at $13.74 on Friday. Cenovus Energy Inc. has a 12 month low of $13.73 and a 12 month high of $21.90. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $14.95 and its two-hundred day moving average is $16.18. The company has a market cap of $25.05 billion, a PE ratio of 11.35 and a beta of 1.99.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Thursday, February 20th. The oil and gas company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.27). Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $11.08 billion. Equities analysts predict that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.1269 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.51 annualized dividend and a yield of 3.69%. Cenovus Energy’s dividend payout ratio (DPR) is presently 40.50%.

Cenovus Energy Company 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.