Wexford Capital LP Sells 43,962 Shares of Cenovus Energy Inc. (NYSE:CVE)

Wexford Capital LP trimmed its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 7.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 568,466 shares of the oil and gas company’s stock after selling 43,962 shares during the quarter. Cenovus Energy accounts for approximately 1.4% of Wexford Capital LP’s portfolio, making the stock its 8th biggest position. Wexford Capital LP’s holdings in Cenovus Energy were worth $8,612,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CVE. Franklin Resources Inc. lifted its position in Cenovus Energy by 105.0% in the 4th quarter. Franklin Resources Inc. now owns 4,337,551 shares of the oil and gas company’s stock worth $65,667,000 after buying an additional 2,221,549 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Cenovus Energy by 4.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,226,155 shares of the oil and gas company’s stock valued at $79,176,000 after acquiring an additional 245,302 shares in the last quarter. Amundi increased its position in Cenovus Energy by 1.7% in the 4th quarter. Amundi now owns 4,678,976 shares of the oil and gas company’s stock worth $71,775,000 after buying an additional 77,548 shares during the period. Alberta Investment Management Corp increased its position in Cenovus Energy by 10.1% in the 4th quarter. Alberta Investment Management Corp now owns 4,494,400 shares of the oil and gas company’s stock worth $68,094,000 after buying an additional 411,000 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Cenovus Energy in the 4th quarter worth approximately $3,649,000. 51.19% of the stock is owned by institutional investors and hedge funds.

Cenovus Energy Trading Up 0.5%

NYSE CVE opened at $13.72 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. Cenovus Energy Inc. has a twelve month low of $10.23 and a twelve month high of $21.08. The company has a market cap of $25.00 billion, a price-to-earnings ratio of 11.33 and a beta of 0.95. The business’s fifty day moving average is $12.68 and its 200 day moving average is $14.20.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.03. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. The company had revenue of $11.15 billion for the quarter, compared to the consensus estimate of $12.39 billion. During the same quarter last year, the business posted $0.62 EPS. As a group, sell-side analysts expect that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.1269 dividend. This represents a $0.51 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Friday, March 14th. Cenovus Energy’s dividend payout ratio (DPR) is presently 51.40%.

Analysts Set New Price Targets

CVE has been the topic of several recent research reports. Morgan Stanley reissued an “overweight” rating on shares of Cenovus Energy in a report on Tuesday, April 15th. The Goldman Sachs Group reduced their price objective on Cenovus Energy from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Scotiabank upgraded Cenovus Energy to a “strong-buy” rating in a research report on Wednesday, March 19th. National Bankshares reiterated a “sector perform” rating on shares of Cenovus Energy in a report on Friday, April 25th. Finally, Veritas cut Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 14th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cenovus Energy currently has an average rating of “Moderate Buy” and a consensus target price of $25.75.

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.