MQS Management LLC Cuts Stock Position in Cenovus Energy Inc. (NYSE:CVE)

MQS Management LLC trimmed its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 27.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,353 shares of the oil and gas company’s stock after selling 8,192 shares during the period. MQS Management LLC’s holdings in Cenovus Energy were worth $427,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Capital World Investors boosted its holdings in shares of Cenovus Energy by 5.4% in the fourth quarter. Capital World Investors now owns 150,534,829 shares of the oil and gas company’s stock valued at $2,508,185,000 after acquiring an additional 7,750,480 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Cenovus Energy by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 48,563,284 shares of the oil and gas company’s stock valued at $970,780,000 after purchasing an additional 1,008,341 shares in the last quarter. TD Asset Management Inc increased its position in Cenovus Energy by 26.5% during the 4th quarter. TD Asset Management Inc now owns 42,191,779 shares of the oil and gas company’s stock worth $706,503,000 after purchasing an additional 8,841,374 shares during the period. Mackenzie Financial Corp raised its stake in shares of Cenovus Energy by 4.4% during the 4th quarter. Mackenzie Financial Corp now owns 11,053,328 shares of the oil and gas company’s stock worth $184,278,000 after buying an additional 462,273 shares in the last quarter. Finally, Capital International Investors lifted its holdings in shares of Cenovus Energy by 1,779.0% in the 4th quarter. Capital International Investors now owns 10,725,418 shares of the oil and gas company’s stock valued at $178,723,000 after buying an additional 10,154,618 shares during the period. 51.19% of the stock is owned by institutional investors and hedge funds.

Cenovus Energy Price Performance

Shares of NYSE CVE traded up $0.34 on Thursday, hitting $19.76. The company’s stock had a trading volume of 5,967,720 shares, compared to its average volume of 9,340,576. The stock has a 50 day moving average of $19.67 and a 200-day moving average of $18.89. The company has a market capitalization of $36.69 billion, a price-to-earnings ratio of 10.98 and a beta of 2.07. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.70 and a quick ratio of 1.01. Cenovus Energy Inc. has a 12-month low of $14.69 and a 12-month high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.98 billion. Cenovus Energy had a return on equity of 16.53% and a net margin of 8.73%. As a group, research analysts predict that Cenovus Energy Inc. will post 1.98 EPS for the current year.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were issued a dividend of $0.0981 per share. This represents a $1.18 annualized dividend and a dividend yield of 5.96%. The ex-dividend date was Thursday, May 16th. Cenovus Energy’s dividend payout ratio (DPR) is 29.44%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CVE. Morgan Stanley upped their price objective on Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. StockNews.com upgraded shares of Cenovus Energy from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 18th. Raymond James raised shares of Cenovus Energy to a “moderate buy” rating in a report on Tuesday, May 28th. Finally, Scotiabank reduced their price target on shares of Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cenovus Energy currently has an average rating of “Buy” and a consensus price target of $30.67.

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.