Raymond James Financial Services Advisors Inc. Cuts Position in Cenovus Energy Inc. (NYSE:CVE)

Raymond James Financial Services Advisors Inc. decreased its holdings in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,013 shares of the oil and gas company’s stock after selling 934 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Cenovus Energy were worth $183,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Cenovus Energy by 1.4% in the third quarter. Vanguard Group Inc. now owns 49,480,149 shares of the oil and gas company’s stock worth $1,030,177,000 after acquiring an additional 690,057 shares in the last quarter. Wellington Management Group LLP raised its position in Cenovus Energy by 0.8% in the third quarter. Wellington Management Group LLP now owns 47,327,214 shares of the oil and gas company’s stock worth $986,334,000 after acquiring an additional 388,652 shares in the last quarter. Boston Partners raised its position in Cenovus Energy by 8.6% in the third quarter. Boston Partners now owns 29,412,644 shares of the oil and gas company’s stock worth $676,838,000 after acquiring an additional 2,325,082 shares in the last quarter. Mackenzie Financial Corp raised its position in Cenovus Energy by 4.7% in the third quarter. Mackenzie Financial Corp now owns 10,591,055 shares of the oil and gas company’s stock worth $211,960,000 after acquiring an additional 475,140 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Cenovus Energy by 28.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,390,287 shares of the oil and gas company’s stock worth $153,864,000 after acquiring an additional 1,653,090 shares in the last quarter. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Trading Down 0.2 %

Cenovus Energy stock opened at $21.23 on Thursday. The stock has a market cap of $39.60 billion, a PE ratio of 13.44 and a beta of 2.15. The stock has a 50-day moving average price of $19.16 and a 200 day moving average price of $18.02. Cenovus Energy Inc. has a 52 week low of $14.69 and a 52 week high of $21.90. 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 (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $9.65 billion during the quarter, compared to analysts’ expectations of $9.73 billion. Cenovus Energy had a return on equity of 14.85% and a net margin of 7.88%. During the same quarter last year, the business posted $0.29 EPS. Equities research analysts predict that Cenovus Energy Inc. will post 1.88 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.1033 dividend. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, March 14th. This represents a $0.41 annualized dividend and a yield of 1.95%. Cenovus Energy’s payout ratio is 25.95%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CVE. StockNews.com raised Cenovus Energy from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. UBS Group raised Cenovus Energy from a “neutral” rating to a “buy” rating in a report on Friday, February 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $28.00 target price on shares of Cenovus Energy in a report on Friday, January 26th. Finally, Morgan Stanley upped their target price on Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $26.67.

Cenovus Energy 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.