Cenovus Energy Inc $CVE Shares Sold by Westerkirk Capital Inc.

Westerkirk Capital Inc. cut its holdings in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 92.6% in the 4th quarter, HoldingsChannel reports. The fund owned 3,990 shares of the oil and gas company’s stock after selling 49,600 shares during the period. Westerkirk Capital Inc.’s holdings in Cenovus Energy were worth $68,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. J.W. Cole Advisors Inc. raised its holdings in Cenovus Energy by 3.9% in the 4th quarter. J.W. Cole Advisors Inc. now owns 13,407 shares of the oil and gas company’s stock valued at $227,000 after acquiring an additional 500 shares during the last quarter. Gateway Investment Advisers LLC raised its holdings in Cenovus Energy by 0.6% in the 4th quarter. Gateway Investment Advisers LLC now owns 93,986 shares of the oil and gas company’s stock valued at $1,590,000 after acquiring an additional 523 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Cenovus Energy by 0.9% in the 4th quarter. International Assets Investment Management LLC now owns 65,248 shares of the oil and gas company’s stock valued at $1,104,000 after acquiring an additional 565 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Cenovus Energy by 24.4% in the 4th quarter. Farther Finance Advisors LLC now owns 3,307 shares of the oil and gas company’s stock valued at $56,000 after acquiring an additional 649 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in Cenovus Energy by 15.7% in the 4th quarter. IFP Advisors Inc now owns 4,839 shares of the oil and gas company’s stock valued at $82,000 after acquiring an additional 656 shares during the last quarter. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVE has been the subject of several analyst reports. Royal Bank Of Canada boosted their price target on Cenovus Energy from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Tuesday, May 19th. Scotiabank reiterated an “outperform” rating on shares of Cenovus Energy in a report on Thursday, May 7th. Raymond James Financial downgraded Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded Cenovus Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 1st. Finally, TD Securities restated a “buy” rating on shares of Cenovus Energy in a report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $35.25.

Cenovus Energy Trading Down 3.8%

CVE stock opened at $27.63 on Wednesday. The company has a market cap of $51.66 billion, a price-to-earnings ratio of 15.18 and a beta of 0.34. The company has a quick ratio of 1.00, a current ratio of 1.57 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $27.95 and a 200-day simple moving average of $22.71. Cenovus Energy Inc has a 52 week low of $13.47 and a 52 week high of $32.07.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. The business had revenue of $10.79 billion during the quarter, compared to the consensus estimate of $9.47 billion. Cenovus Energy had a return on equity of 15.29% and a net margin of 9.53%.The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 EPS. On average, equities research analysts expect that Cenovus Energy Inc will post 3.15 EPS for the current year.

Cenovus Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, June 15th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.20. Cenovus Energy’s payout ratio is currently 32.42%.

Cenovus Energy Company Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin?off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.