FCG Investment Co Trims Stake in Cenovus Energy Inc. (NYSE:CVE)

FCG Investment Co reduced its stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 14.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 10,734 shares of the oil and gas company’s stock after selling 1,849 shares during the quarter. FCG Investment Co’s holdings in Cenovus Energy were worth $163,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Janney Montgomery Scott LLC bought a new position in shares of Cenovus Energy in the fourth quarter worth about $682,000. Grove Bank & Trust increased its holdings in Cenovus Energy by 9.1% in the 4th quarter. Grove Bank & Trust now owns 38,465 shares of the oil and gas company’s stock worth $583,000 after acquiring an additional 3,194 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in Cenovus Energy by 10.4% in the 4th quarter. Arkadios Wealth Advisors now owns 17,908 shares of the oil and gas company’s stock worth $271,000 after acquiring an additional 1,684 shares in the last quarter. Empirical Asset Management LLC bought a new stake in Cenovus Energy during the 4th quarter worth approximately $174,000. Finally, Gateway Investment Advisers LLC lifted its holdings in Cenovus Energy by 175.4% during the fourth quarter. Gateway Investment Advisers LLC now owns 103,509 shares of the oil and gas company’s stock valued at $1,568,000 after purchasing an additional 65,921 shares in the last quarter. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVE has been the subject of a number of analyst reports. TD Securities cut shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. Royal Bank of Canada restated an “outperform” rating and issued a $28.00 price objective on shares of Cenovus Energy in a research report on Monday, January 6th. Finally, BMO Capital Markets cut their target price on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Cenovus Energy Stock Up 0.2 %

CVE opened at $15.00 on Friday. The company has a market capitalization of $27.38 billion, a PE ratio of 10.35 and a beta of 2.01. The firm has a 50-day simple moving average of $15.26 and a two-hundred day simple moving average of $16.97. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. Cenovus Energy Inc. has a 52 week low of $14.20 and a 52 week high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.08. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $10.25 billion. During the same period in the prior year, the company earned $0.72 earnings per share. The firm’s revenue was down 17.9% on a year-over-year basis. Analysts forecast that Cenovus Energy Inc. will post 1.4 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a $0.133 dividend. The ex-dividend date was Friday, December 13th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.13. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.55%. Cenovus Energy’s payout ratio is 35.17%.

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.