Jarislowsky Fraser Ltd reduced its stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 89.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,488,196 shares of the oil and gas company’s stock after selling 12,205,807 shares during the period. Jarislowsky Fraser Ltd owned approximately 0.12% of Cenovus Energy worth $14,886,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CVE. Alliancebernstein L.P. boosted its holdings in shares of Cenovus Energy by 105.6% in the first quarter. Alliancebernstein L.P. now owns 194,451 shares of the oil and gas company’s stock worth $2,197,000 after acquiring an additional 99,852 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Cenovus Energy by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,895,092 shares of the oil and gas company’s stock worth $44,015,000 after acquiring an additional 86,775 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Cenovus Energy by 35.8% in the first quarter. Renaissance Technologies LLC now owns 1,004,300 shares of the oil and gas company’s stock worth $11,349,000 after acquiring an additional 264,500 shares during the period. Capstone Asset Management Co. boosted its holdings in shares of Cenovus Energy by 1.6% in the second quarter. Capstone Asset Management Co. now owns 87,709 shares of the oil and gas company’s stock worth $646,000 after acquiring an additional 1,350 shares during the period. Finally, Gateway Investment Advisers LLC boosted its holdings in shares of Cenovus Energy by 0.5% in the second quarter. Gateway Investment Advisers LLC now owns 75,312 shares of the oil and gas company’s stock worth $555,000 after acquiring an additional 376 shares during the period. 54.01% of the stock is owned by hedge funds and other institutional investors.
Shares of Cenovus Energy Inc (NYSE:CVE) opened at $10.94 on Tuesday. The stock has a market capitalization of $13,836.18, a price-to-earnings ratio of 16.09, a P/E/G ratio of 3.65 and a beta of 0.62. Cenovus Energy Inc has a 52 week low of $6.76 and a 52 week high of $16.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.10 and a current ratio of 1.41.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.039 per share. This represents a $0.16 annualized dividend and a yield of 1.43%. The ex-dividend date is Thursday, December 14th. Cenovus Energy’s dividend payout ratio (DPR) is currently 8.08%.
A number of research firms have recently commented on CVE. AltaCorp Capital lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Thursday, November 9th. Canaccord Genuity reaffirmed a “buy” rating and issued a $14.50 price target on shares of Cenovus Energy in a report on Monday, September 25th. Zacks Investment Research raised Cenovus Energy from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Thursday, October 19th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $15.00 price target on shares of Cenovus Energy in a report on Monday, October 16th. Finally, Morgan Stanley set a $15.00 price target on Cenovus Energy and gave the stock a “buy” rating in a report on Friday, October 13th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. Cenovus Energy currently has an average rating of “Hold” and an average target price of $16.06.
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Cenovus Energy Profile
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