Signaturefd LLC Has $750,000 Stake in Cenovus Energy Inc. (NYSE:CVE)

Signaturefd LLC trimmed its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 5.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,490 shares of the oil and gas company’s stock after selling 3,116 shares during the period. Signaturefd LLC’s holdings in Cenovus Energy were worth $750,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in Cenovus Energy by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 6,413,919 shares of the oil and gas company’s stock valued at $109,232,000 after purchasing an additional 568,732 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Cenovus Energy by 23.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,980,853 shares of the oil and gas company’s stock valued at $83,330,000 after buying an additional 952,477 shares during the last quarter. Amundi boosted its position in Cenovus Energy by 1.7% in the 4th quarter. Amundi now owns 4,678,976 shares of the oil and gas company’s stock valued at $71,775,000 after buying an additional 77,548 shares during the last quarter. Alberta Investment Management Corp boosted its position in Cenovus Energy by 10.1% in the 4th quarter. Alberta Investment Management Corp now owns 4,494,400 shares of the oil and gas company’s stock valued at $68,094,000 after buying an additional 411,000 shares during the last quarter. Finally, Swiss National Bank boosted its position in Cenovus Energy by 0.4% in the 3rd quarter. Swiss National Bank now owns 4,211,235 shares of the oil and gas company’s stock valued at $70,546,000 after buying an additional 17,900 shares during the last quarter. 51.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Cenovus Energy Stock Up 2.1 %

NYSE:CVE opened at $13.90 on Thursday. Cenovus Energy Inc. has a 12-month low of $12.08 and a 12-month high of $21.90. 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 firm has a market capitalization of $25.33 billion, a P/E ratio of 11.48 and a beta of 1.99. The stock’s fifty day simple moving average is $14.40 and its 200-day simple moving average is $15.57.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.27). The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $11.08 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. Equities research analysts expect that Cenovus Energy Inc. will post 1.49 earnings per share for the current year.

Cenovus Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.1269 per share. This represents a $0.51 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Friday, March 14th. Cenovus Energy’s payout ratio is presently 40.50%.

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.