Cenovus Energy Inc. (NYSE:CVE) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. trimmed its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,013 shares of the oil and gas company’s stock after selling 934 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Cenovus Energy were worth $183,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. NBC Securities Inc. purchased a new stake in shares of Cenovus Energy during the third quarter valued at $34,000. CWM LLC lifted its holdings in shares of Cenovus Energy by 19.2% during the third quarter. CWM LLC now owns 3,336 shares of the oil and gas company’s stock valued at $69,000 after purchasing an additional 537 shares during the last quarter. Operose Advisors LLC purchased a new stake in shares of Cenovus Energy during the third quarter valued at $79,000. Y.D. More Investments Ltd purchased a new stake in shares of Cenovus Energy during the third quarter valued at $104,000. Finally, Wahed Invest LLC purchased a new stake in shares of Cenovus Energy during the third quarter valued at $200,000. 51.19% of the stock is owned by hedge funds and other institutional investors.

Cenovus Energy Stock Down 0.2 %

NYSE:CVE opened at $21.23 on Thursday. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.25. Cenovus Energy Inc. has a 1-year low of $14.69 and a 1-year high of $21.90. The business’s fifty day moving average price is $19.16 and its 200 day moving average price is $18.02. The firm has a market capitalization of $39.60 billion, a price-to-earnings ratio of 13.44 and a beta of 2.15.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. Cenovus Energy had a return on equity of 14.85% and a net margin of 7.88%. The company had revenue of $9.65 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same period in the prior year, the firm posted $0.29 EPS. On average, sell-side analysts forecast that Cenovus Energy Inc. will post 1.88 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.1033 dividend. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.10. This represents a $0.41 annualized dividend and a yield of 1.95%. The ex-dividend date was Thursday, March 14th. Cenovus Energy’s dividend payout ratio is presently 25.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CVE shares. UBS Group raised Cenovus Energy from a “neutral” rating to a “buy” rating in a report on Friday, February 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $28.00 price target on shares of Cenovus Energy in a research report on Friday, January 26th. Morgan Stanley upped their price target on Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, StockNews.com raised Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $26.67.

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.