Cenovus Energy Inc. (NYSE:CVE) Shares Sold by DRW Securities LLC

DRW Securities LLC decreased its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 37.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 39,707 shares of the oil and gas company’s stock after selling 23,282 shares during the period. DRW Securities LLC’s holdings in Cenovus Energy were worth $664,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SVB Wealth LLC increased its position in Cenovus Energy by 2.6% during the 1st quarter. SVB Wealth LLC now owns 19,710 shares of the oil and gas company’s stock worth $394,000 after purchasing an additional 507 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Cenovus Energy by 8.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company’s stock valued at $170,000 after buying an additional 643 shares in the last quarter. Cetera Advisors LLC grew its holdings in Cenovus Energy by 5.2% during the first quarter. Cetera Advisors LLC now owns 16,347 shares of the oil and gas company’s stock worth $327,000 after acquiring an additional 801 shares during the period. First Hawaiian Bank lifted its holdings in Cenovus Energy by 1.6% in the second quarter. First Hawaiian Bank now owns 69,273 shares of the oil and gas company’s stock valued at $1,362,000 after acquiring an additional 1,071 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Cenovus Energy by 1.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 76,940 shares of the oil and gas company’s stock worth $1,287,000 after purchasing an additional 1,209 shares in the last quarter. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Price Performance

NYSE:CVE opened at $15.49 on Wednesday. Cenovus Energy Inc. has a 12-month low of $14.69 and a 12-month high of $21.90. The firm has a market cap of $28.29 billion, a price-to-earnings ratio of 10.64 and a beta of 2.05. The company’s 50-day moving average is $16.72 and its two-hundred day moving average is $18.30. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $10.25 billion. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. Cenovus Energy’s revenue was down 17.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 earnings per share. Research analysts expect that Cenovus Energy Inc. will post 1.5 EPS for the current year.

Cenovus Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.133 dividend. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a yield of 3.43%. The ex-dividend date is Friday, December 13th. Cenovus Energy’s dividend payout ratio is presently 36.55%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CVE. TD Securities downgraded shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. StockNews.com cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, BMO Capital Markets decreased their price target on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $30.00.

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.