Moore Capital Management LP Sells 764,868 Shares of Cenovus Energy Inc. (NYSE:CVE)

Moore Capital Management LP lowered its position in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 66.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 388,890 shares of the oil and gas company's stock after selling 764,868 shares during the quarter. Moore Capital Management LP's holdings in Cenovus Energy were worth $5,892,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC increased its position in Cenovus Energy by 104.9% in the fourth quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 851 shares during the period. Sierra Ocean LLC acquired a new stake in Cenovus Energy in the fourth quarter worth about $67,000. Blue Trust Inc. increased its position in 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 stake in Cenovus Energy in the fourth quarter worth about $98,000. Finally, Black Maple Capital Management LP acquired a new stake in Cenovus Energy in the fourth quarter worth about $167,000. Institutional investors and hedge funds own 51.19% of the company's stock.

Analyst Ratings Changes

CVE has been the subject of a number of research reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $25.00 price objective on shares of Cenovus Energy in a research report on Friday, April 11th. Morgan Stanley restated an "overweight" rating on shares of Cenovus Energy in a report on Tuesday, April 15th. National Bank Financial cut Cenovus Energy from an "outperform" rating to a "sector perform" rating in a report on Friday, February 21st. The Goldman Sachs Group reduced their target price on Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, National Bankshares restated a "sector perform" rating on shares of Cenovus Energy in a research report on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $25.75.

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock traded up $0.08 during trading on Friday, hitting $13.72. 12,829,660 shares of the stock were exchanged, compared to its average volume of 8,967,715. Cenovus Energy Inc. has a 1-year low of $10.23 and a 1-year high of $21.08. The stock has a market capitalization of $25.00 billion, a price-to-earnings ratio of 11.33 and a beta of 0.95. The company has a fifty day moving average price of $12.67 and a 200-day moving average price of $14.25. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings data on Thursday, May 8th. The oil and gas company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.29 by $0.03. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The firm had revenue of $11.15 billion for the quarter, compared to the consensus estimate of $12.39 billion. During the same period in the previous year, the company earned $0.62 earnings per share. As a group, equities analysts predict that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.1269 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.51 annualized dividend and a yield of 3.70%. Cenovus Energy's dividend payout ratio (DPR) is presently 51.40%.

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.