Cenovus Energy Inc. (NYSE:CVE) Stock Holdings Lifted by Scheer Rowlett & Associates Investment Management Ltd.

Scheer Rowlett & Associates Investment Management Ltd. grew its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 19.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,786,011 shares of the oil and gas company’s stock after purchasing an additional 622,977 shares during the period. Cenovus Energy comprises about 4.2% of Scheer Rowlett & Associates Investment Management Ltd.’s holdings, making the stock its 9th largest position. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in Cenovus Energy were worth $57,317,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVE. Truvestments Capital LLC acquired a new stake in shares of Cenovus Energy in the 3rd quarter valued at $25,000. Sierra Ocean LLC bought a new position in Cenovus Energy during the fourth quarter valued at about $67,000. Blue Trust Inc. lifted its position in shares of Cenovus Energy by 54.7% in the fourth 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 during the last quarter. SevenBridge Financial Group LLC bought a new stake in shares of Cenovus Energy during the 3rd quarter worth about $162,000. Finally, Empirical Asset Management LLC bought a new stake in shares of Cenovus Energy during the 4th quarter worth about $174,000. 51.19% of the stock is owned by hedge funds and other institutional investors.

Cenovus Energy Stock Up 0.3 %

Shares of CVE stock opened at $12.72 on Friday. The stock has a 50 day moving average of $14.76 and a 200-day moving average of $15.95. The firm has a market cap of $23.19 billion, a PE ratio of 10.51 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 Inc. has a 12 month low of $12.07 and a 12 month high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its 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 company had revenue of $8.40 billion for 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%. On average, equities analysts predict that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The business 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. This represents a $0.51 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend is Friday, March 14th. Cenovus Energy’s payout ratio is presently 40.50%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Royal Bank of Canada reduced their target price on Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, February 21st. StockNews.com cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. Finally, 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. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Cenovus Energy presently has an average rating of “Moderate Buy” and an average price target of $29.25.

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.