Dimensional Fund Advisors LP Sells 171,087 Shares of Cenovus Energy Inc $CVE

Dimensional Fund Advisors LP reduced its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 1.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 17,163,377 shares of the oil and gas company’s stock after selling 171,087 shares during the period. Dimensional Fund Advisors LP’s holdings in Cenovus Energy were worth $291,635,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harvest Portfolios Group Inc. bought a new stake in Cenovus Energy in the second quarter valued at approximately $2,557,000. Ninepoint Partners LP increased its holdings in shares of Cenovus Energy by 490.0% in the third quarter. Ninepoint Partners LP now owns 3,540,000 shares of the oil and gas company’s stock valued at $60,145,000 after purchasing an additional 2,940,000 shares during the last quarter. Intact Investment Management Inc. raised its position in shares of Cenovus Energy by 69.6% in the third quarter. Intact Investment Management Inc. now owns 3,655,878 shares of the oil and gas company’s stock valued at $62,081,000 after purchasing an additional 1,500,590 shares during the period. Boston Partners lifted its stake in shares of Cenovus Energy by 2.3% during the 2nd quarter. Boston Partners now owns 26,845,367 shares of the oil and gas company’s stock worth $365,097,000 after buying an additional 606,042 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of Cenovus Energy by 6.6% during the 2nd quarter. Swiss National Bank now owns 4,156,435 shares of the oil and gas company’s stock worth $56,341,000 after buying an additional 257,600 shares during the last quarter. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Trading Down 2.4%

Shares of NYSE:CVE opened at $22.75 on Friday. The business’s 50 day simple moving average is $19.79 and its 200 day simple moving average is $18.08. Cenovus Energy Inc has a 1 year low of $10.23 and a 1 year high of $23.89. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.04. The company has a market capitalization of $42.77 billion, a P/E ratio of 14.87 and a beta of 0.43.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.08. The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $10.89 billion. Cenovus Energy had a return on equity of 13.25% and a net margin of 7.92%.During the same period in the previous year, the firm earned $0.07 EPS. On average, research analysts anticipate that Cenovus Energy Inc will post 1.49 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Friday, March 13th. Cenovus Energy’s dividend payout ratio (DPR) is currently 37.25%.

Wall Street Analysts Forecast Growth

CVE has been the topic of a number of research reports. TD Securities reiterated a “buy” rating on shares of Cenovus Energy in a research note on Friday, February 20th. Wall Street Zen lowered Cenovus Energy from a “buy” rating to a “hold” rating in a report on Monday, February 23rd. The Goldman Sachs Group reiterated a “buy” rating and set a $22.00 price objective on shares of Cenovus Energy in a research report on Monday, February 2nd. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Cenovus Energy in a report on Tuesday, January 20th. Finally, Royal Bank Of Canada boosted their target price on shares of Cenovus Energy from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.33.

About Cenovus Energy

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.