Cenovus Energy Inc $CVE Shares Sold by Aventail Capital Group LP

Aventail Capital Group LP decreased its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 3.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,771,832 shares of the oil and gas company’s stock after selling 62,351 shares during the quarter. Cenovus Energy accounts for 1.4% of Aventail Capital Group LP’s investment portfolio, making the stock its 23rd biggest holding. Aventail Capital Group LP’s holdings in Cenovus Energy were worth $30,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in CVE. Allworth Financial LP boosted its stake in Cenovus Energy by 104.3% during the 2nd quarter. Allworth Financial LP now owns 2,288 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 1,168 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Cenovus Energy by 74.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company’s stock worth $44,000 after buying an additional 1,384 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Cenovus Energy by 57.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,912 shares of the oil and gas company’s stock worth $67,000 after buying an additional 1,800 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of Cenovus Energy in the second quarter valued at $78,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Cenovus Energy by 16.8% in the third quarter. Jones Financial Companies Lllp now owns 6,369 shares of the oil and gas company’s stock valued at $113,000 after buying an additional 917 shares during the period. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Stock Down 1.6%

Shares of Cenovus Energy stock opened at $23.23 on Friday. Cenovus Energy Inc has a 12-month low of $10.23 and a 12-month high of $24.06. The firm has a market capitalization of $43.67 billion, a PE ratio of 15.18 and a beta of 0.43. The company has a quick ratio of 1.04, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. The stock’s fifty day moving average is $20.40 and its 200-day moving average is $18.36.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.08. The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $10.89 billion. Cenovus Energy had a return on equity of 13.25% and a net margin of 7.92%.During the same quarter last year, the company posted $0.07 EPS. Equities analysts anticipate that Cenovus Energy Inc will post 1.49 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.4%. Cenovus Energy’s dividend payout ratio is currently 37.91%.

Wall Street Analysts Forecast Growth

CVE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Cenovus Energy in a report on Tuesday, January 20th. Scotiabank raised shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. TD Securities restated a “buy” rating on shares of Cenovus Energy in a research report on Friday, February 20th. Veritas raised shares of Cenovus Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cenovus Energy in a report on Tuesday, January 27th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cenovus Energy presently has a consensus rating of “Moderate Buy” and an average target price of $29.67.

Cenovus Energy Company Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.