Y Intercept Hong Kong Ltd Has $830,000 Position in Cenovus Energy Inc. (NYSE:CVE)

Y Intercept Hong Kong Ltd lowered its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 51.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,786 shares of the oil and gas company’s stock after selling 58,920 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Cenovus Energy were worth $830,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CVE. Smead Capital Management Inc. lifted its holdings in shares of Cenovus Energy by 39.3% during the third quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company’s stock valued at $257,831,000 after acquiring an additional 4,351,960 shares during the period. Bridgewater Associates LP bought a new position in shares of Cenovus Energy during the third quarter valued at $33,995,000. Anson Funds Management LP lifted its holdings in shares of Cenovus Energy by 188.2% during the third quarter. Anson Funds Management LP now owns 1,877,800 shares of the oil and gas company’s stock valued at $31,405,000 after acquiring an additional 1,226,221 shares during the period. Panview Capital Ltd bought a new position in shares of Cenovus Energy during the fourth quarter valued at $16,741,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Cenovus Energy by 23.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,980,853 shares of the oil and gas company’s stock valued at $83,330,000 after acquiring an additional 952,477 shares during the period. Institutional investors and hedge funds own 51.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CVE. StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. Royal Bank of Canada cut their price target on Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, February 21st. BMO Capital Markets cut their price target on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, National Bank Financial cut Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.25.

Cenovus Energy Price Performance

Shares of CVE stock opened at $13.74 on Friday. The stock has a 50-day moving average price of $14.95 and a 200 day moving average price of $16.18. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The firm has a market cap of $25.05 billion, a price-to-earnings ratio of 11.35 and a beta of 1.99. Cenovus Energy Inc. has a 12 month low of $13.73 and a 12 month high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.27). The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. Research analysts expect that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.1269 per share. The ex-dividend date is Friday, March 14th. This represents a $0.51 annualized dividend and a dividend yield of 3.69%. Cenovus Energy’s payout ratio is currently 40.50%.

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.