Signaturefd LLC Has $750,000 Holdings in Cenovus Energy Inc. (NYSE:CVE)

Signaturefd LLC lessened its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 5.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 49,490 shares of the oil and gas company’s stock after selling 3,116 shares during the quarter. Signaturefd LLC’s holdings in Cenovus Energy were worth $750,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Corient Private Wealth LLC raised its stake in shares of Cenovus Energy by 33.6% in the 4th quarter. Corient Private Wealth LLC now owns 69,627 shares of the oil and gas company’s stock valued at $1,055,000 after purchasing an additional 17,529 shares during the period. Intact Investment Management Inc. raised its stake in shares of Cenovus Energy by 9.5% in the 4th quarter. Intact Investment Management Inc. now owns 2,611,948 shares of the oil and gas company’s stock valued at $39,588,000 after purchasing an additional 225,550 shares during the period. Aviso Financial Inc. raised its stake in shares of Cenovus Energy by 33.7% in the 4th quarter. Aviso Financial Inc. now owns 12,671 shares of the oil and gas company’s stock valued at $192,000 after purchasing an additional 3,194 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Cenovus Energy by 34.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,835 shares of the oil and gas company’s stock valued at $225,000 after purchasing an additional 3,827 shares during the period. Finally, Farther Finance Advisors LLC raised 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 valued at $25,000 after purchasing an additional 851 shares during the period. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Price Performance

NYSE:CVE opened at $13.90 on Thursday. 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 stock’s 50-day simple moving average is $14.40 and its 200 day simple moving average is $15.57. The company has a market cap of $25.33 billion, a P/E ratio of 11.48 and a beta of 1.99. Cenovus Energy Inc. has a 52-week low of $12.08 and a 52-week high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.27). The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. As a group, sell-side analysts forecast that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.1269 per share. This represents a $0.51 annualized dividend and a yield of 3.65%. The ex-dividend date is Friday, March 14th. Cenovus Energy’s payout ratio is presently 40.50%.

Analyst Ratings Changes

Several analysts have issued reports on CVE shares. StockNews.com downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. National Bank Financial downgraded Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, February 21st. Finally, Royal Bank of Canada lowered their target price on Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Cenovus Energy has an average rating of “Moderate Buy” and a consensus target price of $29.25.

Cenovus Energy Company 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.