Cenovus Energy Inc. (NYSE:CVE) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. lessened its stake in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 4.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,590,497 shares of the oil and gas company's stock after selling 127,892 shares during the period. Cenovus Energy comprises approximately 1.7% of Intact Investment Management Inc.'s portfolio, making the stock its 18th largest position. Intact Investment Management Inc. owned 0.14% of Cenovus Energy worth $43,168,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC increased its holdings in Cenovus Energy by 19.2% in the 3rd quarter. CWM LLC now owns 3,336 shares of the oil and gas company's stock valued at $69,000 after purchasing an additional 537 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Cenovus Energy by 2.7% in the third quarter. Private Advisor Group LLC now owns 22,453 shares of the oil and gas company's stock worth $467,000 after acquiring an additional 598 shares in the last quarter. Schechter Investment Advisors LLC grew its stake in shares of Cenovus Energy by 1.6% in the third quarter. Schechter Investment Advisors LLC now owns 39,350 shares of the oil and gas company's stock worth $819,000 after acquiring an additional 611 shares in the last quarter. Lorne Steinberg Wealth Management Inc. grew its stake in shares of Cenovus Energy by 1.1% in 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 acquiring an additional 630 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of Cenovus Energy by 5.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 11,947 shares of the oil and gas company's stock worth $249,000 after acquiring an additional 654 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company's stock.

Analyst Upgrades and Downgrades

CVE has been the subject of several research reports. UBS Group upgraded shares of Cenovus Energy from a "neutral" rating to a "buy" rating in a research note on Friday, February 23rd. Royal Bank of Canada restated an "outperform" rating and issued a $28.00 price target on shares of Cenovus Energy in a research note on Friday, January 26th. Morgan Stanley lifted their price objective on shares of Cenovus Energy from $28.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, March 28th. Finally, StockNews.com raised shares of Cenovus Energy from a "hold" rating to a "buy" rating in a research report on Thursday, April 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $26.67.

Cenovus Energy Stock Up 0.8 %

Shares of Cenovus Energy stock traded up $0.18 during trading on Friday, hitting $21.46. 7,791,147 shares of the stock were exchanged, compared to its average volume of 9,089,166. The stock has a market cap of $40.03 billion, a price-to-earnings ratio of 13.58 and a beta of 2.15. The firm's 50-day moving average price is $19.42 and its 200 day moving average price is $18.05. Cenovus Energy Inc. has a 12-month low of $14.69 and a 12-month high of $21.90. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.56 and a quick ratio of 0.91.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. Cenovus Energy had a net margin of 7.88% and a return on equity of 14.85%. The business had revenue of $9.65 billion during the quarter, compared to analysts' expectations of $9.73 billion. During the same period in the previous year, the company earned $0.29 EPS. As a group, analysts forecast that Cenovus Energy Inc. will post 1.88 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given 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 yield of 1.93%. Cenovus Energy's payout ratio is 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.