Cenovus Energy Inc. (NYSE:CVE) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. trimmed its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 45.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,122 shares of the oil and gas company’s stock after selling 34,435 shares during the period. Crossmark Global Holdings Inc.’s holdings in Cenovus Energy were worth $704,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CVE. SVB Wealth LLC lifted its stake in shares of Cenovus Energy by 2.6% during the first quarter. SVB Wealth LLC now owns 19,710 shares of the oil and gas company’s stock valued at $394,000 after buying an additional 507 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Cenovus Energy by 8.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company’s stock worth $170,000 after purchasing an additional 643 shares during the period. Cetera Advisors LLC boosted its holdings in shares of Cenovus Energy by 5.2% during the first quarter. Cetera Advisors LLC now owns 16,347 shares of the oil and gas company’s stock worth $327,000 after purchasing an additional 801 shares during the last quarter. First Hawaiian Bank grew its position in shares of Cenovus Energy by 1.6% in the second quarter. First Hawaiian Bank now owns 69,273 shares of the oil and gas company’s stock valued at $1,362,000 after purchasing an additional 1,071 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its stake in Cenovus Energy by 12.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,496 shares of the oil and gas company’s stock valued at $226,000 after purchasing an additional 1,229 shares during the last quarter. 51.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. BMO Capital Markets decreased their price target on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. StockNews.com downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, TD Securities downgraded shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Cenovus Energy Stock Down 1.4 %

CVE opened at $15.63 on Friday. Cenovus Energy Inc. has a 1 year low of $14.69 and a 1 year high of $21.90. The firm has a 50 day moving average price of $16.75 and a 200 day moving average price of $18.52. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. The company has a market cap of $28.58 billion, a PE ratio of 10.78 and a beta of 2.05.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.08. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $10.25 billion. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. The business’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 earnings per share. Sell-side analysts expect that Cenovus Energy Inc. will post 1.5 earnings per share for the current year.

Cenovus Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.133 dividend. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, December 13th. This represents a $0.53 annualized dividend and a dividend yield of 3.40%. Cenovus Energy’s dividend payout ratio is presently 36.55%.

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.