LVW Advisors LLC Decreases Position in Cenovus Energy Inc. (NYSE:CVE)

LVW Advisors LLC trimmed its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 13.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,454 shares of the oil and gas company’s stock after selling 1,663 shares during the period. LVW Advisors LLC’s holdings in Cenovus Energy were worth $175,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc bought a new position in Cenovus Energy during the 1st quarter worth approximately $1,482,000. Manning & Napier Advisors LLC purchased a new position in shares of Cenovus Energy in the second quarter worth $2,946,000. International Assets Investment Management LLC raised its holdings in Cenovus Energy by 39.9% during the 1st quarter. International Assets Investment Management LLC now owns 35,767 shares of the oil and gas company’s stock valued at $719,000 after buying an additional 10,200 shares during the last quarter. M&G Plc boosted its position in Cenovus Energy by 2.4% during the 2nd quarter. M&G Plc now owns 3,496,370 shares of the oil and gas company’s stock valued at $69,013,000 after buying an additional 82,840 shares during the period. Finally, SkyView Investment Advisors LLC bought a new stake in Cenovus Energy in the 1st quarter worth $733,000. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Cenovus Energy Trading Down 0.1 %

CVE opened at $17.85 on Friday. The stock has a market cap of $32.79 billion, a PE ratio of 9.60 and a beta of 2.04. The business has a 50 day moving average of $17.83 and a 200-day moving average of $19.29. Cenovus Energy Inc. has a 52 week low of $14.69 and a 52 week high of $21.90. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 0.25.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Thursday, August 1st. The oil and gas company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.13). The business had revenue of $10.88 billion for the quarter, compared to the consensus estimate of $9.78 billion. Cenovus Energy had a net margin of 8.56% and a return on equity of 16.61%. Equities research analysts predict that Cenovus Energy Inc. will post 1.84 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $0.132 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Friday, September 13th. Cenovus Energy’s dividend payout ratio is 28.49%.

Wall Street Analysts Forecast Growth

CVE has been the subject of a number of analyst reports. TD Securities lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. BMO Capital Markets dropped their price objective on Cenovus Energy from $33.00 to $31.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Scotiabank reduced their target price on Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Cenovus Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

Cenovus Energy 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.