Partners Value Investments LP trimmed its stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 19.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,237,000 shares of the oil and gas company’s stock after selling 290,000 shares during the period. Cenovus Energy comprises about 0.3% of Partners Value Investments LP’s portfolio, making the stock its 6th largest position. Partners Value Investments LP’s holdings in Cenovus Energy were worth $14,349,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently modified their holdings of the stock. SeaBridge Investment Advisors LLC bought a new position in Cenovus Energy in the first quarter valued at $26,000. Whittier Trust Co. grew its position in Cenovus Energy by 52.8% in the fourth quarter. Whittier Trust Co. now owns 11,876 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 4,104 shares in the last quarter. Acadian Asset Management LLC grew its position in Cenovus Energy by 1,540.0% in the fourth quarter. Acadian Asset Management LLC now owns 16,400 shares of the oil and gas company’s stock valued at $115,000 after purchasing an additional 15,400 shares in the last quarter. Quadrant Capital Group LLC grew its position in Cenovus Energy by 164.9% in the first quarter. Quadrant Capital Group LLC now owns 14,996 shares of the oil and gas company’s stock valued at $128,000 after purchasing an additional 9,334 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Cenovus Energy by 8.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 14,989 shares of the oil and gas company’s stock valued at $130,000 after purchasing an additional 1,168 shares in the last quarter. Institutional investors and hedge funds own 76.09% of the company’s stock.
CVE has been the subject of a number of analyst reports. ValuEngine raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. Goldman Sachs Group raised shares of Cenovus Energy from a “sell” rating to a “neutral” rating and set a $11.00 target price for the company in a research report on Tuesday, April 16th. Finally, GMP Securities reaffirmed a “buy” rating and issued a $17.50 target price on shares of Cenovus Energy in a research report on Thursday, April 25th. One 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. Cenovus Energy currently has a consensus rating of “Hold” and an average target price of $13.41.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period last year, the business earned ($0.74) EPS. On average, equities research analysts forecast that Cenovus Energy Inc will post 0.59 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.0373 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Thursday, June 13th. Cenovus Energy’s dividend payout ratio (DPR) is presently -8.62%.
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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