Dynasty Wealth Management LLC Has $384,000 Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

Dynasty Wealth Management LLC lessened its holdings in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 67.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 25,320 shares of the oil and gas company’s stock after selling 51,858 shares during the quarter. Dynasty Wealth Management LLC’s holdings in Cenovus Energy were worth $384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CVE. Smead Capital Management Inc. boosted its position in Cenovus Energy by 39.3% during the 3rd quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company’s stock worth $257,831,000 after acquiring an additional 4,351,960 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Cenovus Energy by 9.7% during the third quarter. Geode Capital Management LLC now owns 6,413,919 shares of the oil and gas company’s stock worth $109,232,000 after purchasing an additional 568,732 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Cenovus Energy by 23.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,980,853 shares of the oil and gas company’s stock worth $83,330,000 after purchasing an additional 952,477 shares during the period. Alberta Investment Management Corp boosted its holdings in shares of Cenovus Energy by 10.1% during the fourth quarter. Alberta Investment Management Corp now owns 4,494,400 shares of the oil and gas company’s stock worth $68,094,000 after purchasing an additional 411,000 shares during the period. Finally, Swiss National Bank lifted its position in Cenovus Energy by 0.4% in the 3rd quarter. Swiss National Bank now owns 4,211,235 shares of the oil and gas company’s stock worth $70,546,000 after buying an additional 17,900 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CVE. National Bank Financial downgraded shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, February 21st. Royal Bank of Canada cut their price objective on Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, February 21st. StockNews.com downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. Finally, BMO Capital Markets cut their price target on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.25.

Cenovus Energy Stock Performance

Shares of NYSE:CVE opened at $13.84 on Friday. 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 business’s fifty day moving average price is $14.93 and its two-hundred day moving average price is $16.15. Cenovus Energy Inc. has a fifty-two week low of $13.49 and a fifty-two week high of $21.90. The stock has a market capitalization of $25.24 billion, a price-to-earnings ratio of 11.43 and a beta of 1.99.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Thursday, February 20th. The oil and gas company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.27). Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $11.08 billion. As a group, analysts predict that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.1269 dividend. This represents a $0.51 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Friday, March 14th. Cenovus Energy’s dividend payout ratio is 40.50%.

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.