FCG Investment Co Lowers Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

FCG Investment Co lowered its stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 14.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,734 shares of the oil and gas company’s stock after selling 1,849 shares during the period. FCG Investment Co’s holdings in Cenovus Energy were worth $163,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in Cenovus Energy in the third quarter worth $25,000. Blue Trust Inc. boosted its stake in Cenovus Energy by 640.3% in the 3rd quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 2,651 shares in the last quarter. SevenBridge Financial Group LLC purchased a new stake in Cenovus Energy during the 3rd quarter valued at about $162,000. Northwestern Mutual Wealth Management Co. increased its stake in Cenovus Energy by 8.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company’s stock valued at $170,000 after purchasing an additional 643 shares in the last quarter. Finally, Empirical Asset Management LLC bought a new stake in Cenovus Energy during the 4th quarter valued at about $174,000. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Trading Up 0.2 %

NYSE:CVE opened at $15.00 on Friday. The company has a market cap of $27.38 billion, a PE ratio of 10.35 and a beta of 2.01. 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 company has a 50 day simple moving average of $15.26 and a two-hundred day simple moving average of $16.97. Cenovus Energy Inc. has a 12 month low of $14.20 and a 12 month high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.34 by $0.08. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $10.25 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. Cenovus Energy’s revenue was down 17.9% compared to the same quarter last year. Research analysts forecast that Cenovus Energy Inc. will post 1.4 earnings per share for the current year.

Cenovus Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.133 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.53 annualized dividend and a dividend yield of 3.55%. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.13. Cenovus Energy’s dividend payout ratio is presently 35.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CVE shares. BMO Capital Markets cut their price target on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. TD Securities downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $28.00 target price on shares of Cenovus Energy in a report on Monday, January 6th. Finally, StockNews.com downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus 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.