Lingohr Asset Management GmbH Decreases Position in Cenovus Energy Inc. (NYSE:CVE)

Lingohr Asset Management GmbH lowered its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 12.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,387 shares of the oil and gas company’s stock after selling 4,889 shares during the quarter. Lingohr Asset Management GmbH’s holdings in Cenovus Energy were worth $510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its holdings in Cenovus Energy by 104.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company’s stock worth $25,000 after buying an additional 851 shares during the last quarter. Wahed Invest LLC raised its position in shares of Cenovus Energy by 5.6% during the 3rd quarter. Wahed Invest LLC now owns 16,489 shares of the oil and gas company’s stock worth $276,000 after acquiring an additional 875 shares in the last quarter. Montgomery Investment Management Inc. lifted its stake in Cenovus Energy by 1.6% during the fourth quarter. Montgomery Investment Management Inc. now owns 56,535 shares of the oil and gas company’s stock worth $857,000 after purchasing an additional 894 shares during the last quarter. Harmony Asset Management LLC boosted its holdings in Cenovus Energy by 8.1% in the third quarter. Harmony Asset Management LLC now owns 13,400 shares of the oil and gas company’s stock valued at $224,000 after purchasing an additional 1,000 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Cenovus Energy by 1.6% in the third quarter. PNC Financial Services Group Inc. now owns 76,940 shares of the oil and gas company’s stock valued at $1,287,000 after purchasing an additional 1,209 shares during the last quarter. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Cenovus Energy Price Performance

Shares of NYSE CVE opened at $13.90 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95. The company has a market cap of $25.33 billion, a PE ratio of 11.48 and a beta of 1.99. The stock has a fifty day moving average price of $14.40 and a 200 day moving average price of $15.57. Cenovus Energy Inc. has a 1-year low of $12.08 and a 1-year high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.27). Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $11.08 billion. Sell-side analysts forecast that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.1269 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend is Friday, March 14th. Cenovus Energy’s dividend payout ratio (DPR) is currently 40.50%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. National Bank Financial lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, February 21st. Finally, StockNews.com downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.25.

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.