Gateway Investment Advisers LLC Has $442,000 Position in Cenovus Energy Inc. (NYSE:CVE)

Gateway Investment Advisers LLC cut its stake in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 69.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,753 shares of the oil and gas company's stock after selling 71,756 shares during the quarter. Gateway Investment Advisers LLC's holdings in Cenovus Energy were worth $442,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in Cenovus Energy by 104.9% in the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company's stock worth $25,000 after acquiring an additional 851 shares during the period. Sierra Ocean LLC bought a new position in shares of Cenovus Energy in the fourth quarter worth about $67,000. Blue Trust Inc. increased its stake in shares of Cenovus Energy by 54.7% in the fourth quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company's stock worth $72,000 after purchasing an additional 1,677 shares during the period. Natixis acquired a new position in shares of Cenovus Energy during the 4th quarter worth about $98,000. Finally, Black Maple Capital Management LP bought a new stake in Cenovus Energy during the 4th quarter valued at approximately $167,000. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Cenovus Energy Price Performance

Shares of CVE stock traded up $0.29 during mid-day trading on Wednesday, reaching $14.33. The company's stock had a trading volume of 17,892,325 shares, compared to its average volume of 9,413,499. The firm's 50-day moving average is $12.56 and its two-hundred day moving average is $13.91. The company has a market cap of $26.11 billion, a P/E ratio of 11.84 and a beta of 0.94. Cenovus Energy Inc. has a 1-year low of $10.23 and a 1-year high of $20.76. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59.

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

Cenovus Energy Increases Dividend

The business also recently declared a dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.20 dividend. This is a positive change from Cenovus Energy's previous dividend of $0.11. The ex-dividend date of this dividend is Friday, June 13th. This represents a yield of 4.25%. Cenovus Energy's payout ratio is currently 54.21%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CVE shares. Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a report on Tuesday, April 15th. Veritas cut shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. National Bank Financial lowered shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research report on Friday, February 21st. Royal Bank of Canada restated an "outperform" rating and set a $25.00 price objective on shares of Cenovus Energy in a report on Friday, April 11th. Finally, The Goldman Sachs Group reduced their target price on shares of Cenovus Energy from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Cenovus Energy currently has an average rating of "Moderate Buy" and an average price target 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.