Cenovus Energy Inc (CVE) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC decreased its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 30.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,324 shares of the oil and gas company’s stock after selling 19,293 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Cenovus Energy were worth $376,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVE. Harris Associates L P boosted its position in Cenovus Energy by 10.0% in the fourth quarter. Harris Associates L P now owns 73,886,985 shares of the oil and gas company’s stock worth $519,340,000 after purchasing an additional 6,694,276 shares during the last quarter. Letko Brosseau & Associates Inc. boosted its position in Cenovus Energy by 3.6% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 41,302,859 shares of the oil and gas company’s stock worth $290,311,000 after purchasing an additional 1,440,030 shares during the last quarter. Vanguard Group Inc boosted its position in Cenovus Energy by 2.6% in the third quarter. Vanguard Group Inc now owns 28,111,158 shares of the oil and gas company’s stock worth $281,955,000 after purchasing an additional 711,769 shares during the last quarter. Vanguard Group Inc. boosted its position in Cenovus Energy by 2.6% in the third quarter. Vanguard Group Inc. now owns 28,111,158 shares of the oil and gas company’s stock worth $281,955,000 after purchasing an additional 711,769 shares during the last quarter. Finally, Pzena Investment Management LLC raised its stake in shares of Cenovus Energy by 6.5% in the fourth quarter. Pzena Investment Management LLC now owns 21,091,835 shares of the oil and gas company’s stock worth $148,276,000 after buying an additional 1,292,856 shares during the period. Institutional investors and hedge funds own 77.90% of the company’s stock.

CVE traded up $0.08 on Friday, hitting $9.05. 5,334,952 shares of the company’s stock traded hands, compared to its average volume of 5,616,492. The company has a market capitalization of $11.12 billion, a PE ratio of -5.20, a price-to-earnings-growth ratio of 2.58 and a beta of 0.85. Cenovus Energy Inc has a one year low of $6.15 and a one year high of $11.47. The company has a current ratio of 1.10, a quick ratio of 0.65 and a debt-to-equity ratio of 0.52.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Wednesday, April 24th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.08). Cenovus Energy had a negative net margin of 8.68% and a negative return on equity of 11.69%. The business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period last year, the business posted ($0.74) EPS. Equities research analysts predict that Cenovus Energy Inc will post 0.58 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.0373 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Thursday, June 13th. Cenovus Energy’s payout ratio is -8.62%.

CVE has been the topic of several recent research reports. ValuEngine downgraded Cenovus Energy from a “hold” rating to a “sell” rating in a research note on Thursday, January 24th. Credit Suisse Group initiated coverage on Cenovus Energy in a research note on Monday, January 28th. They issued an “outperform” rating and a $15.00 price objective on the stock. Morgan Stanley reaffirmed a “hold” rating on shares of Cenovus Energy in a research note on Tuesday, January 29th. CIBC downgraded Cenovus Energy from a “sector outperform” rating to a “neutral” rating in a research note on Thursday, January 31st. Finally, Zacks Investment Research downgraded Cenovus Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, February 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $13.41.

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Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.

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Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

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