Woodson Capital Management LP Cuts Position in Cenovus Energy Inc. (NYSE:CVE)

Woodson Capital Management LP lessened its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 25.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 370,600 shares of the oil and gas company’s stock after selling 129,400 shares during the period. Cenovus Energy comprises 1.2% of Woodson Capital Management LP’s investment portfolio, making the stock its 28th biggest holding. Woodson Capital Management LP’s holdings in Cenovus Energy were worth $6,200,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of Cenovus Energy by 8.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company’s stock worth $170,000 after buying an additional 643 shares during the last quarter. Cetera Advisors LLC lifted its holdings in shares of Cenovus Energy by 5.2% in the 1st quarter. Cetera Advisors LLC now owns 16,347 shares of the oil and gas company’s stock valued at $327,000 after purchasing an additional 801 shares during the last quarter. First Hawaiian Bank boosted its position in shares of Cenovus Energy by 1.6% in the 2nd quarter. First Hawaiian Bank now owns 69,273 shares of the oil and gas company’s stock valued at $1,362,000 after purchasing an additional 1,071 shares during the period. PNC Financial Services Group Inc. grew its stake in Cenovus Energy by 1.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 76,940 shares of the oil and gas company’s stock worth $1,287,000 after buying an additional 1,209 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in Cenovus Energy by 12.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,496 shares of the oil and gas company’s stock worth $226,000 after buying an additional 1,229 shares during the period. Institutional investors and hedge funds own 51.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets lowered their target price on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. StockNews.com cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, TD Securities downgraded shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Cenovus Energy currently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Cenovus Energy Trading Up 1.5 %

Shares of CVE stock opened at $15.71 on Friday. Cenovus Energy Inc. has a twelve month low of $14.69 and a twelve month high of $21.90. The company has a market capitalization of $28.69 billion, a price-to-earnings ratio of 10.83 and a beta of 2.05. The firm has a 50-day moving average price of $16.68 and a 200 day moving average price of $18.25. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data 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. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $10.25 billion. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The business’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. Research analysts forecast that Cenovus Energy Inc. will post 1.48 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.133 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.53 dividend on an annualized basis and a yield of 3.39%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.13. Cenovus Energy’s dividend payout ratio (DPR) is currently 36.55%.

Cenovus Energy Company 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.