K.J. Harrison & Partners Inc Sells 247,909 Shares of Cenovus Energy Inc (NYSE:CVE)

K.J. Harrison & Partners Inc reduced its holdings in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 75.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,136 shares of the oil and gas company's stock after selling 247,909 shares during the period. K.J. Harrison & Partners Inc's holdings in Cenovus Energy were worth $1,143,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Public Employees Retirement System of Ohio boosted its position in shares of Cenovus Energy by 0.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 241,113 shares of the oil and gas company's stock worth $3,653,000 after purchasing an additional 762 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Cenovus Energy by 0.7% during the fourth quarter. Alliancebernstein L.P. now owns 106,532 shares of the oil and gas company's stock worth $1,614,000 after purchasing an additional 779 shares during the period. Farther Finance Advisors LLC increased its stake in Cenovus Energy by 104.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 851 shares in the last quarter. Guggenheim Capital LLC increased its holdings in Cenovus Energy by 4.5% during the 4th quarter. Guggenheim Capital LLC now owns 20,974 shares of the oil and gas company's stock worth $318,000 after purchasing an additional 908 shares in the last quarter. Finally, Banco Santander S.A. lifted its holdings in shares of Cenovus Energy by 5.6% in the fourth quarter. Banco Santander S.A. now owns 30,967 shares of the oil and gas company's stock valued at $469,000 after purchasing an additional 1,641 shares in the last quarter. 51.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on CVE shares. The Goldman Sachs Group dropped their price objective on Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Veritas lowered Cenovus Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 14th. Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a report on Tuesday, April 15th. National Bankshares restated a "sector perform" rating on shares of Cenovus Energy in a research note on Friday, April 25th. Finally, Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $25.75.

Cenovus Energy Price Performance

NYSE:CVE traded up $0.39 during trading hours on Wednesday, hitting $14.26. The stock had a trading volume of 11,606,375 shares, compared to its average volume of 9,788,692. The company has a 50 day simple moving average of $13.37 and a two-hundred day simple moving average of $13.78. The firm has a market capitalization of $25.80 billion, a price-to-earnings ratio of 13.33 and a beta of 0.93. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.46 and a quick ratio of 0.84. Cenovus Energy Inc has a one year low of $10.23 and a one year high of $20.76.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. The business had revenue of $11.15 billion for the quarter, compared to analyst estimates of $12.39 billion. Cenovus Energy had a return on equity of 9.56% and a net margin of 5.22%. During the same period in the prior year, the company earned $0.62 EPS. Research analysts forecast that Cenovus Energy Inc will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

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

About Cenovus Energy

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.