Intact Investment Management Inc. Has $43.17 Million Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

Intact Investment Management Inc. trimmed its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,590,497 shares of the oil and gas company’s stock after selling 127,892 shares during the quarter. Cenovus Energy accounts for 1.7% of Intact Investment Management Inc.’s holdings, making the stock its 18th biggest holding. Intact Investment Management Inc. owned 0.14% of Cenovus Energy worth $43,168,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVE. CWM LLC grew its holdings in shares of Cenovus Energy by 19.2% during the 3rd quarter. CWM LLC now owns 3,336 shares of the oil and gas company’s stock worth $69,000 after purchasing an additional 537 shares in the last quarter. Maryland State Retirement & Pension System grew its holdings in shares of Cenovus Energy by 2.8% during the 3rd quarter. Maryland State Retirement & Pension System now owns 339,502 shares of the oil and gas company’s stock worth $7,072,000 after purchasing an additional 9,256 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Cenovus Energy by 5.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 11,947 shares of the oil and gas company’s stock worth $249,000 after purchasing an additional 654 shares in the last quarter. Baker Ellis Asset Management LLC grew its holdings in shares of Cenovus Energy by 22.3% during the 3rd quarter. Baker Ellis Asset Management LLC now owns 72,300 shares of the oil and gas company’s stock worth $1,505,000 after purchasing an additional 13,200 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Cenovus Energy by 8.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 304,303 shares of the oil and gas company’s stock worth $6,365,000 after purchasing an additional 24,160 shares in the last quarter. 51.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVE has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $28.00 price objective on shares of Cenovus Energy in a research note on Friday, January 26th. Morgan Stanley raised their price objective on Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. UBS Group raised Cenovus Energy from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. Finally, StockNews.com raised Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Cenovus Energy presently has a consensus rating of “Buy” and an average price target of $26.67.

Cenovus Energy Trading Up 0.8 %

Cenovus Energy stock traded up $0.18 during trading hours on Friday, hitting $21.46. The stock had a trading volume of 7,791,147 shares, compared to its average volume of 9,089,166. The company has a quick ratio of 0.91, a current ratio of 1.56 and a debt-to-equity ratio of 0.25. The stock has a market cap of $40.03 billion, a price-to-earnings ratio of 13.58 and a beta of 2.15. Cenovus Energy Inc. has a one year low of $14.69 and a one year high of $21.90. The business’s 50 day simple moving average is $19.34 and its 200-day simple moving average is $18.06.

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

Cenovus Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.1033 per share. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, March 14th. This represents a $0.41 annualized dividend and a dividend yield of 1.93%. Cenovus Energy’s payout ratio is presently 25.95%.

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.