Boston Partners Sells 86,060 Shares of Cenovus Energy Inc. (NYSE:CVE)

Boston Partners decreased its holdings in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,407,135 shares of the oil and gas company’s stock after selling 86,060 shares during the period. Boston Partners owned about 1.50% of Cenovus Energy worth $415,218,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVE. Swiss National Bank increased its stake in Cenovus Energy by 0.4% in the third quarter. Swiss National Bank now owns 4,211,235 shares of the oil and gas company’s stock worth $70,546,000 after purchasing an additional 17,900 shares during the period. Pathstone Holdings LLC increased its stake in shares of Cenovus Energy by 46.6% during the third quarter. Pathstone Holdings LLC now owns 110,440 shares of the oil and gas company’s stock valued at $1,848,000 after buying an additional 35,105 shares during the period. Smead Capital Management Inc. increased its stake in shares of Cenovus Energy by 39.3% during the third quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company’s stock valued at $257,831,000 after buying an additional 4,351,960 shares during the period. Lingohr Asset Management GmbH increased its stake in shares of Cenovus Energy by 19.1% during the third quarter. Lingohr Asset Management GmbH now owns 39,276 shares of the oil and gas company’s stock valued at $658,000 after buying an additional 6,289 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Cenovus Energy by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 76,940 shares of the oil and gas company’s stock valued at $1,287,000 after buying an additional 1,209 shares during the period. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CVE. Royal Bank of Canada cut their price target on Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. StockNews.com downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. Finally, National Bank Financial downgraded Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, February 21st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.25.

Cenovus Energy Trading Up 1.1 %

Cenovus Energy stock opened at $13.64 on Tuesday. The stock has a 50-day moving average price of $14.47 and a 200 day moving average price of $15.62. 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 company has a market capitalization of $24.86 billion, a price-to-earnings ratio of 11.27 and a beta of 1.99. Cenovus Energy Inc. has a 52 week low of $12.08 and a 52 week high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share 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 analysts’ expectations of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. Sell-side analysts anticipate 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. Investors of record on Friday, March 14th will be given a dividend of $0.1269 per share. This represents a $0.51 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Friday, March 14th. Cenovus Energy’s dividend payout ratio is currently 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.