Schechter Investment Advisors LLC Sells 12,927 Shares of Cenovus Energy Inc. (NYSE:CVE)

Schechter Investment Advisors LLC reduced its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 35.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 24,049 shares of the oil and gas company’s stock after selling 12,927 shares during the period. Schechter Investment Advisors LLC’s holdings in Cenovus Energy were worth $364,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Truvestments Capital LLC acquired a new position in Cenovus Energy during the third quarter worth about $25,000. Sierra Ocean LLC bought a new stake in shares of Cenovus Energy during the 4th quarter valued at approximately $67,000. Blue Trust Inc. grew its holdings in shares of Cenovus Energy by 54.7% during the 4th quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company’s stock valued at $72,000 after purchasing an additional 1,677 shares during the last quarter. SevenBridge Financial Group LLC bought a new position in Cenovus Energy in the 3rd quarter valued at approximately $162,000. Finally, Empirical Asset Management LLC acquired a new stake in Cenovus Energy in the fourth quarter valued at approximately $174,000. 51.19% of the stock is owned by institutional investors and hedge funds.

Cenovus Energy Stock Performance

NYSE CVE opened at $12.35 on Thursday. The company has a market capitalization of $22.52 billion, a price-to-earnings ratio of 10.20 and a beta of 1.99. Cenovus Energy Inc. has a twelve month low of $12.07 and a twelve month high of $21.90. The stock has a fifty day simple moving average of $14.85 and a 200 day simple moving average of $16.00. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly 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). The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. Sell-side analysts expect that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.1269 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.51 annualized dividend and a yield of 4.11%. Cenovus Energy’s payout ratio is 40.50%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CVE. National Bank Financial downgraded shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, February 21st. StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. Finally, Royal Bank of Canada cut their price target on Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Cenovus Energy presently has an average rating of “Moderate Buy” and an average price target of $29.25.

Cenovus Energy Company 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.