72,957 Cenovus Energy Inc $CVE Shares Sold by Hosking Partners LLP

Hosking Partners LLP trimmed its holdings in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 9.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 722,235 shares of the oil and gas company’s stock after selling 72,957 shares during the quarter. Hosking Partners LLP’s holdings in Cenovus Energy were worth $22,447,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC raised its position in Cenovus Energy by 2.4% in the third quarter. Frank Rimerman Advisors LLC now owns 24,601 shares of the oil and gas company’s stock worth $765,000 after acquiring an additional 584 shares during the period. Penbrook Management LLC boosted its stake in shares of Cenovus Energy by 42.9% during the 3rd quarter. Penbrook Management LLC now owns 42,700 shares of the oil and gas company’s stock worth $1,327,000 after acquiring an additional 12,820 shares during the last quarter. Vontobel Holding Ltd. grew its position in shares of Cenovus Energy by 0.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 145,901 shares of the oil and gas company’s stock valued at $4,536,000 after acquiring an additional 801 shares during the period. TD Waterhouse Canada Inc. grew its position in shares of Cenovus Energy by 0.3% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 9,696,020 shares of the oil and gas company’s stock valued at $305,599,000 after acquiring an additional 32,151 shares during the period. Finally, Annex Advisory Services LLC grew its position in shares of Cenovus Energy by 11.8% during the 3rd quarter. Annex Advisory Services LLC now owns 177,907 shares of the oil and gas company’s stock valued at $5,529,000 after acquiring an additional 18,823 shares during the period. 51.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on CVE. UBS Group lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. Jefferies Financial Group reiterated a “buy” rating on shares of Cenovus Energy in a research report on Sunday. JPMorgan Chase & Co. raised Cenovus Energy from a “neutral” rating to an “overweight” rating in a report on Tuesday, September 8th. Desjardins raised Cenovus Energy to a “moderate buy” rating in a report on Thursday, July 16th. Finally, Wall Street Zen upgraded Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research report on Sunday, October 11th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $39.00.

Cenovus Energy Price Performance

Shares of NYSE:CVE opened at $33.12 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.04. Cenovus Energy Inc has a 1-year low of $15.63 and a 1-year high of $34.16. The company has a market capitalization of $60.17 billion, a P/E ratio of 12.74 and a beta of 0.46. The firm’s 50 day simple moving average is $32.16 and its two-hundred day simple moving average is $29.24.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $1.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.11. The business had revenue of $14.59 billion during the quarter, compared to analyst estimates of $11.87 billion. Cenovus Energy had a net margin of 12.37% and a return on equity of 21.08%. The company’s revenue was up 47.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. Research analysts expect that Cenovus Energy Inc will post 4.12 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were paid a dividend of C$0.22 per share. The ex-dividend date was Tuesday, September 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.7%. Cenovus Energy’s payout ratio is 24.62%.

Cenovus Energy Profile

Cenovus Energy Inc (NYSE:CVE) is an integrated Canadian energy company engaged in the exploration, development, production, transportation, and marketing of crude oil and natural gas. Its upstream operations include oil sands projects in northern Alberta, as well as conventional oil and natural gas assets in Canada.

The company also operates oil sands upgraders, refineries, and related infrastructure. Through its downstream business, Cenovus produces and markets refined petroleum products, including gasoline, diesel, jet fuel, asphalt, and other products.