Cenovus Energy Inc. (NYSE:CVE) Shares Sold by Man Group plc

Man Group plc lowered its position in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 49.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 about 0.07% of Cenovus Energy worth $20,629,000 at the end of the most recent reporting period.

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

Cenovus Energy Stock Performance

NYSE:CVE traded down $0.16 during mid-day trading on Thursday, reaching $13.11. The stock had a trading volume of 6,874,358 shares, compared to its average volume of 9,043,819. Cenovus Energy Inc. has a twelve month low of $10.23 and a twelve month high of $21.08. The business has a 50 day simple moving average of $12.69 and a 200 day simple moving average of $14.17. The firm has a market capitalization of $23.88 billion, a price-to-earnings ratio of 10.81 and a beta of 0.95. 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 announced its quarterly earnings data 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 firm 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 10.73% and a net margin of 5.82%. During the same quarter in the prior year, the company posted $0.62 earnings per share. On average, analysts expect that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid 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 dividend yield of 3.87%. Cenovus Energy's dividend payout ratio (DPR) is presently 51.40%.

Analysts Set New Price Targets

CVE has been the topic of several research reports. Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a research report on Tuesday, April 15th. The Goldman Sachs Group decreased 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. Royal Bank of Canada reissued an "outperform" rating and set a $25.00 price target on shares of Cenovus Energy in a report on Friday, April 11th. Veritas downgraded Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Scotiabank raised Cenovus Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. Five research 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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.