BNP Paribas Financial Markets Trims Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

BNP Paribas Financial Markets trimmed its holdings in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 64.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 200,303 shares of the oil and gas company’s stock after selling 368,035 shares during the quarter. BNP Paribas Financial Markets’ holdings in Cenovus Energy were worth $3,035,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Ameriprise Financial Inc. raised its holdings in shares of Cenovus Energy by 37.9% in the fourth quarter. Ameriprise Financial Inc. now owns 92,386 shares of the oil and gas company’s stock worth $1,400,000 after buying an additional 25,377 shares during the period. Wahed Invest LLC raised its holdings in shares of Cenovus Energy by 12.5% in the fourth quarter. Wahed Invest LLC now owns 18,546 shares of the oil and gas company’s stock worth $281,000 after buying an additional 2,057 shares during the period. Northern Trust Corp grew its stake in Cenovus Energy by 50.0% in the fourth quarter. Northern Trust Corp now owns 946,644 shares of the oil and gas company’s stock worth $14,342,000 after purchasing an additional 315,339 shares in the last quarter. Quarry LP grew its stake in Cenovus Energy by 12.7% in the fourth quarter. Quarry LP now owns 34,720 shares of the oil and gas company’s stock worth $526,000 after purchasing an additional 3,906 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in Cenovus Energy by 4.1% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,080,000 shares of the oil and gas company’s stock worth $46,662,000 after purchasing an additional 120,000 shares in the last quarter. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Cenovus Energy Stock Down 1.2%

Shares of NYSE CVE opened at $13.64 on Friday. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $24.86 billion, a PE ratio of 11.27 and a beta of 0.95. The stock’s fifty day simple moving average is $12.67 and its two-hundred day simple moving average is $14.25. Cenovus Energy Inc. has a 12-month low of $10.23 and a 12-month high of $21.08.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03. The business had revenue of $11.15 billion for the quarter, compared to analysts’ expectations of $12.39 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. During the same quarter last year, the firm earned $0.62 EPS. As a group, analysts expect that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.1269 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.51 annualized dividend and a dividend yield of 3.72%. Cenovus Energy’s dividend payout ratio is presently 51.40%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 price objective on shares of Cenovus Energy in a research note on Friday, April 11th. The Goldman Sachs Group dropped their price objective on Cenovus Energy from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. National Bank Financial cut Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 21st. Morgan Stanley reissued an “overweight” rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. Finally, Scotiabank raised Cenovus Energy to a “strong-buy” rating in a research note on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.75.

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.