Man Group plc Lowers Holdings in Cenovus Energy Inc. (NYSE:CVE)

Man Group plc lowered its stake in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 49.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,361,582 shares of the oil and gas company's stock after selling 1,337,111 shares during the period. Man Group plc owned 0.07% of Cenovus Energy worth $20,629,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted 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 during the last quarter. Sierra Ocean LLC purchased a new stake in Cenovus Energy during the 4th quarter valued at $67,000. Blue Trust Inc. boosted its stake in Cenovus Energy by 54.7% during the 4th quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company's stock valued at $72,000 after purchasing an additional 1,677 shares during the last quarter. Natixis purchased a new stake in Cenovus Energy during the 4th quarter valued at $98,000. Finally, Black Maple Capital Management LP purchased a new stake in Cenovus Energy during the 4th quarter valued at $167,000. Hedge funds and other institutional investors own 51.19% of the company's stock.

Cenovus Energy Price Performance

Shares of CVE stock traded down $0.25 during trading hours on Tuesday, hitting $13.29. The stock had a trading volume of 10,466,324 shares, compared to its average volume of 8,993,400. Cenovus Energy Inc. has a one year low of $10.23 and a one year high of $21.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95. The stock's 50-day moving average price is $12.69 and its two-hundred day moving average price is $14.18. The stock has a market capitalization of $24.22 billion, a price-to-earnings ratio of 10.98 and a beta of 0.95.

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

Cenovus Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.1269 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date was Friday, March 14th. Cenovus Energy's payout ratio is presently 51.40%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVE. National Bankshares reiterated a "sector perform" rating on shares of Cenovus Energy in a research note on Friday, April 25th. Veritas downgraded Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. The Goldman Sachs Group dropped their price target 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. Scotiabank raised Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Cenovus Energy in a report on Tuesday, April 15th. Five 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $25.75.

Cenovus Energy 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.