Boston Partners Cuts Stock Position in Cenovus Energy Inc. (NYSE:CVE)

Boston Partners cut its holdings in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 0.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 27,407,135 shares of the oil and gas company’s stock after selling 86,060 shares during the quarter. Boston Partners’ holdings in Cenovus Energy were worth $415,218,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Truvestments Capital LLC purchased a new stake in shares of Cenovus Energy during the third quarter worth approximately $25,000. Farther Finance Advisors LLC increased its position in shares of Cenovus Energy by 104.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 851 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Cenovus Energy during the fourth quarter worth approximately $67,000. Blue Trust Inc. increased its position in shares of Cenovus Energy by 54.7% during the fourth quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company’s stock worth $72,000 after purchasing an additional 1,677 shares in the last quarter. Finally, SevenBridge Financial Group LLC purchased a new stake in shares of Cenovus Energy during the third quarter worth approximately $162,000. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVE has been the subject of several research reports. Royal Bank of Canada dropped their price target on Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. National Bank Financial lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 21st. Finally, StockNews.com lowered 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 assigned a buy rating to the stock. According to data from MarketBeat.com, Cenovus Energy presently has an average rating of “Moderate Buy” and an average target price of $29.25.

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock opened at $13.64 on Tuesday. Cenovus Energy Inc. has a 52 week low of $12.08 and a 52 week high of $21.90. The business’s fifty day simple moving average is $14.47 and its 200-day simple moving average is $15.62. The firm has a market cap 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 (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). The business 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%. Equities analysts forecast that Cenovus Energy Inc. will post 1.49 earnings per share 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 3.72%. Cenovus Energy’s dividend payout ratio (DPR) is 40.50%.

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.