BNP Paribas Financial Markets Sells 368,035 Shares of Cenovus Energy Inc. (NYSE:CVE)

BNP Paribas Financial Markets lowered its position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 64.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 200,303 shares of the oil and gas company's stock after selling 368,035 shares during the period. BNP Paribas Financial Markets' holdings in Cenovus Energy were worth $3,035,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CVE. Franklin Resources Inc. boosted its stake in shares of Cenovus Energy by 105.0% in the fourth quarter. Franklin Resources Inc. now owns 4,337,551 shares of the oil and gas company's stock worth $65,667,000 after acquiring an additional 2,221,549 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Cenovus Energy by 4.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,226,155 shares of the oil and gas company's stock worth $79,176,000 after acquiring an additional 245,302 shares during the period. Amundi boosted its stake in shares of Cenovus Energy by 1.7% in the fourth quarter. Amundi now owns 4,678,976 shares of the oil and gas company's stock worth $71,775,000 after acquiring an additional 77,548 shares during the period. Alberta Investment Management Corp boosted its stake in shares of Cenovus Energy by 10.1% in the fourth quarter. Alberta Investment Management Corp now owns 4,494,400 shares of the oil and gas company's stock worth $68,094,000 after acquiring an additional 411,000 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Cenovus Energy in the fourth quarter worth about $3,649,000. Institutional investors own 51.19% of the company's stock.

Cenovus Energy Price Performance

NYSE:CVE opened at $13.64 on Friday. 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 market capitalization of $24.86 billion, a P/E ratio of 11.27 and a beta of 0.95. Cenovus Energy Inc. has a 12 month low of $10.23 and a 12 month high of $21.08. The business's 50-day moving average is $12.67 and its 200 day moving average is $14.25.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings data on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.03. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. The business had revenue of $11.15 billion for the quarter, compared to the consensus estimate of $12.39 billion. During the same period in the prior year, the business posted $0.62 earnings per share. On average, equities research analysts forecast that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.1269 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a yield of 3.72%. Cenovus Energy's dividend payout ratio (DPR) is presently 51.40%.

Analysts Set New Price Targets

CVE has been the subject of a number of recent analyst reports. Scotiabank raised Cenovus Energy to a "strong-buy" rating in a research note on Wednesday, March 19th. National Bank Financial lowered Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. The Goldman Sachs Group dropped their price objective on Cenovus Energy from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Royal Bank of Canada reiterated an "outperform" rating and issued a $25.00 target price on shares of Cenovus Energy in a research report on Friday, April 11th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a research report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cenovus Energy has an average rating of "Moderate Buy" and a consensus target price of $25.75.

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.

Want to see what other hedge funds are holding CVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.