O Shaughnessy Asset Management LLC Sells 69,832 Shares of Cenovus Energy Inc. (NYSE:CVE)

O Shaughnessy Asset Management LLC lessened its holdings in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 13.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 446,528 shares of the oil and gas company’s stock after selling 69,832 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Cenovus Energy were worth $6,761,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CVE. Farther Finance Advisors LLC grew its stake in shares of Cenovus Energy by 104.9% in 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. Sierra Ocean LLC purchased a new stake in shares of Cenovus Energy in the fourth quarter worth $67,000. Blue Trust Inc. grew its stake in shares of Cenovus Energy by 54.7% in the fourth quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company’s stock worth $72,000 after acquiring an additional 1,677 shares during the last quarter. Empirical Asset Management LLC bought a new position in shares of Cenovus Energy during the fourth quarter valued at $174,000. Finally, SVB Wealth LLC purchased a new position in shares of Cenovus Energy in the 4th quarter worth about $182,000. Institutional investors own 51.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CVE shares. StockNews.com lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. Royal Bank of Canada decreased their price objective on shares of Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Scotiabank upgraded Cenovus Energy to a “strong-buy” rating in a research note on Wednesday, March 19th. National Bank Financial cut Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Cenovus Energy in a research report on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Cenovus Energy has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Cenovus Energy Price Performance

Shares of CVE opened at $14.01 on Wednesday. The firm has a fifty day simple moving average of $14.22 and a two-hundred day simple moving average of $15.38. The firm has a market cap of $25.53 billion, a PE ratio of 11.57 and a beta of 1.99. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. 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 posted its quarterly earnings data 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). The firm had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. On average, equities analysts anticipate that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.1269 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend was Friday, March 14th. Cenovus Energy’s 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.