Cenovus Energy Inc $CVE Stock: Hosking Partners LLP Cuts Position

Hosking Partners LLP trimmed its holdings in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 9.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 722,235 shares of the oil and gas company's stock after selling 72,957 shares during the period. Hosking Partners LLP's holdings in Cenovus Energy were worth $22,447,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Frank Rimerman Advisors LLC lifted its holdings in shares of Cenovus Energy by 2.4% during the third quarter. Frank Rimerman Advisors LLC now owns 24,601 shares of the oil and gas company's stock valued at $765,000 after purchasing an additional 584 shares in the last quarter. Penbrook Management LLC boosted its position in shares of Cenovus Energy by 42.9% during the third quarter. Penbrook Management LLC now owns 42,700 shares of the oil and gas company's stock valued at $1,327,000 after buying an additional 12,820 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in Cenovus Energy by 0.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 145,901 shares of the oil and gas company's stock worth $4,536,000 after buying an additional 801 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in Cenovus Energy by 0.3% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 9,696,020 shares of the oil and gas company's stock worth $305,599,000 after buying an additional 32,151 shares in the last quarter. Finally, Annex Advisory Services LLC increased its holdings in Cenovus Energy by 11.8% in the 3rd quarter. Annex Advisory Services LLC now owns 177,907 shares of the oil and gas company's stock worth $5,529,000 after buying an additional 18,823 shares in the last quarter. Institutional investors own 51.19% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CVE shares. Jefferies Financial Group reissued a "buy" rating on shares of Cenovus Energy in a research report on Sunday. Weiss Ratings raised shares of Cenovus Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Wall Street Zen upgraded shares of Cenovus Energy from a "buy" rating to a "strong-buy" rating in a research note on Sunday, October 11th. UBS Group cut shares of Cenovus Energy from a "buy" rating to a "hold" rating in a report on Wednesday, September 2nd. Finally, Raymond James Financial reissued an "outperform" rating on shares of Cenovus Energy in a report on Wednesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Cenovus Energy currently has a consensus rating of "Buy" and a consensus price target of $39.00.

Cenovus Energy Stock Performance

CVE stock opened at $33.12 on Thursday. The company has a market cap of $60.17 billion, a P/E ratio of 12.74 and a beta of 0.46. Cenovus Energy Inc has a 1 year low of $15.63 and a 1 year high of $34.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.04. The stock's fifty day moving average price is $32.16 and its 200-day moving average price is $29.24.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $1.11 EPS for the quarter, hitting the consensus estimate of $1.11. The company had revenue of $14.59 billion during the quarter, compared to analyst estimates of $11.87 billion. Cenovus Energy had a return on equity of 21.08% and a net margin of 12.37%. Cenovus Energy's revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 earnings per share. On average, equities analysts forecast that Cenovus Energy Inc will post 4.12 earnings per share for the current year.

Cenovus Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were issued a C$0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. Cenovus Energy's dividend payout ratio is currently 24.62%.

Cenovus Energy Company Profile

Cenovus Energy Inc NYSE: CVE is an integrated Canadian energy company engaged in the exploration, development, production, transportation, and marketing of crude oil and natural gas. Its upstream operations include oil sands projects in northern Alberta, as well as conventional oil and natural gas assets in Canada.

The company also operates oil sands upgraders, refineries, and related infrastructure. Through its downstream business, Cenovus produces and markets refined petroleum products, including gasoline, diesel, jet fuel, asphalt, and other products.

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