Cenovus Energy Inc. (NYSE:CVE) Shares Sold by Cambiar Investors LLC

Cambiar Investors LLC cut its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 2.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,069,155 shares of the oil and gas company’s stock after selling 88,618 shares during the period. Cenovus Energy accounts for approximately 2.0% of Cambiar Investors LLC’s portfolio, making the stock its 18th biggest holding. Cambiar Investors LLC’s holdings in Cenovus Energy were worth $51,347,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CVE. Blue Trust Inc. boosted its position in Cenovus Energy by 640.3% during the 3rd quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 2,651 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Cenovus Energy by 8.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company’s stock worth $170,000 after acquiring an additional 643 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Cenovus Energy during the first quarter valued at approximately $205,000. Everpar Advisors LLC bought a new stake in Cenovus Energy during the second quarter worth approximately $211,000. Finally, FCG Investment Co bought a new position in Cenovus Energy during the 3rd quarter valued at $211,000. 51.19% of the stock is owned by institutional investors.

Cenovus Energy Stock Down 2.5 %

CVE stock opened at $15.67 on Friday. The company’s 50 day simple moving average is $17.20 and its 200-day simple moving average is $18.88. Cenovus Energy Inc. has a 52-week low of $14.69 and a 52-week high of $21.90. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 1.00. The firm has a market capitalization of $28.67 billion, a P/E ratio of 8.42 and a beta of 2.04.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Thursday, August 1st. The oil and gas company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.13). The business had revenue of $10.88 billion during the quarter, compared to analyst estimates of $9.78 billion. Cenovus Energy had a return on equity of 16.61% and a net margin of 8.56%. As a group, equities research analysts anticipate that Cenovus Energy Inc. will post 1.67 EPS for the current year.

Cenovus Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.133 per share. This represents a $0.53 annualized dividend and a yield of 3.40%. The ex-dividend date is Friday, December 13th. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.13. Cenovus Energy’s payout ratio is 28.49%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. TD Securities lowered Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. BMO Capital Markets reduced their price objective on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday. Scotiabank lowered their price objective on shares of Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, StockNews.com upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cenovus Energy has an average rating of “Moderate Buy” and a consensus target price of $30.00.

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.