Cenovus Energy Inc. (NYSE:CVE) Shares Sold by Cambiar Investors LLC

Cambiar Investors LLC trimmed its stake in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 15.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,557,215 shares of the oil and gas company's stock after selling 469,787 shares during the period. Cenovus Energy makes up about 1.7% of Cambiar Investors LLC's portfolio, making the stock its 23rd biggest position. Cambiar Investors LLC owned about 0.14% of Cenovus Energy worth $42,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Cenovus Energy by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 49,480,149 shares of the oil and gas company's stock valued at $1,030,177,000 after acquiring an additional 690,057 shares during the period. Wellington Management Group LLP boosted its holdings in Cenovus Energy by 0.8% during the 3rd quarter. Wellington Management Group LLP now owns 47,327,214 shares of the oil and gas company's stock valued at $986,334,000 after acquiring an additional 388,652 shares during the period. Boston Partners lifted its holdings in shares of Cenovus Energy by 8.6% in the 3rd quarter. Boston Partners now owns 29,412,644 shares of the oil and gas company's stock worth $676,838,000 after buying an additional 2,325,082 shares during the period. Capital World Investors lifted its holdings in shares of Cenovus Energy by 30.0% in the 1st quarter. Capital World Investors now owns 28,481,746 shares of the oil and gas company's stock worth $474,791,000 after buying an additional 6,570,038 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of Cenovus Energy by 4.7% in the 3rd quarter. Mackenzie Financial Corp now owns 10,591,055 shares of the oil and gas company's stock worth $211,960,000 after buying an additional 475,140 shares during the period. 51.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CVE shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $28.00 target price on shares of Cenovus Energy in a report on Friday, January 26th. UBS Group upgraded Cenovus Energy from a "neutral" rating to a "buy" rating in a report on Friday, February 23rd. Finally, Morgan Stanley boosted their price target on Cenovus Energy from $28.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $26.67.

Cenovus Energy Stock Up 1.3 %

Shares of CVE traded up $0.27 during trading hours on Friday, hitting $21.38. The company had a trading volume of 6,504,420 shares, compared to its average volume of 9,140,509. The company has a market capitalization of $39.90 billion, a PE ratio of 13.53 and a beta of 2.15. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.25. Cenovus Energy Inc. has a one year low of $14.69 and a one year high of $21.46. The company's fifty day moving average price is $17.98 and its two-hundred day moving average price is $17.93.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its earnings results on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. Cenovus Energy had a return on equity of 14.85% and a net margin of 7.88%. The company had revenue of $9.65 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same period in the prior year, the company posted $0.29 EPS. As a group, equities analysts forecast that Cenovus Energy Inc. will post 1.73 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.1033 per share. This is a positive change from Cenovus Energy's previous quarterly dividend of $0.10. This represents a $0.41 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Thursday, March 14th. Cenovus Energy's dividend payout ratio is currently 25.95%.

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.