Cenovus Energy Inc. (NYSE:CVE) Shares Sold by Raymond James & Associates

Raymond James & Associates lessened its position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 17.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 247,709 shares of the oil and gas company's stock after selling 50,632 shares during the quarter. Raymond James & Associates' holdings in Cenovus Energy were worth $4,124,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Commonwealth Equity Services LLC lifted its position in shares of Cenovus Energy by 1.6% in the third quarter. Commonwealth Equity Services LLC now owns 29,149 shares of the oil and gas company's stock valued at $448,000 after acquiring an additional 472 shares in the last quarter. CWM LLC lifted its position in Cenovus Energy by 19.2% during the third quarter. CWM LLC now owns 3,336 shares of the oil and gas company's stock worth $69,000 after buying an additional 537 shares in the last quarter. Private Advisor Group LLC lifted its position in Cenovus Energy by 2.7% during the third quarter. Private Advisor Group LLC now owns 22,453 shares of the oil and gas company's stock worth $467,000 after buying an additional 598 shares in the last quarter. Schechter Investment Advisors LLC lifted its position in Cenovus Energy by 1.6% during the third quarter. Schechter Investment Advisors LLC now owns 39,350 shares of the oil and gas company's stock worth $819,000 after buying an additional 611 shares in the last quarter. Finally, Lorne Steinberg Wealth Management Inc. lifted its position in Cenovus Energy by 1.1% during the third quarter. Lorne Steinberg Wealth Management Inc. now owns 57,715 shares of the oil and gas company's stock worth $1,205,000 after buying an additional 630 shares in the last quarter. Hedge funds and other institutional investors own 51.19% of the company's stock.

Cenovus Energy Trading Down 0.7 %

NYSE:CVE traded down $0.14 on Friday, reaching $20.95. The company's stock had a trading volume of 13,170,578 shares, compared to its average volume of 11,484,124. Cenovus Energy Inc. has a 12-month low of $14.69 and a 12-month high of $21.90. The company has a quick ratio of 0.91, a current ratio of 1.56 and a debt-to-equity ratio of 0.25. The firm has a market cap of $39.10 billion, a price-to-earnings ratio of 13.26 and a beta of 2.15. The stock has a 50 day moving average price of $18.50 and a 200 day moving average price of $18.01.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its earnings results on Thursday, February 15th. The oil and gas company reported $0.29 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $9.73 billion. During the same quarter in the previous year, the business earned $0.29 earnings per share. On average, equities analysts anticipate that Cenovus Energy Inc. will post 1.73 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.1033 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Cenovus Energy's previous quarterly dividend of $0.10. This represents a $0.41 dividend on an annualized basis and a dividend yield of 1.97%. Cenovus Energy's payout ratio is presently 25.95%.

Wall Street Analysts Forecast Growth

CVE has been the topic of a number of analyst reports. StockNews.com upgraded Cenovus Energy from a "hold" rating to a "buy" rating in a research report on Thursday. Royal Bank of Canada reiterated an "outperform" rating and set a $28.00 price objective on shares of Cenovus Energy in a research report on Friday, January 26th. Morgan Stanley lifted their price objective on Cenovus Energy from $28.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, March 28th. Finally, UBS Group upgraded Cenovus Energy from a "neutral" rating to a "buy" rating in a research report on Friday, February 23rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $26.67.

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.