Bessemer Group Inc. Sells 102,732 Shares of Cenovus Energy Inc. (NYSE:CVE)

Bessemer Group Inc. cut its holdings in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 98.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,730 shares of the oil and gas company's stock after selling 102,732 shares during the quarter. Bessemer Group Inc.'s holdings in Cenovus Energy were worth $35,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CVE. Financial Perspectives Inc bought a new stake in Cenovus Energy during the fourth quarter worth $28,000. Fifth Third Bancorp increased its stake in shares of Cenovus Energy by 80.3% during the 1st quarter. Fifth Third Bancorp now owns 1,453 shares of the oil and gas company's stock worth $29,000 after purchasing an additional 647 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Cenovus Energy in the 1st quarter valued at about $30,000. Headlands Technologies LLC acquired a new stake in Cenovus Energy in the 4th quarter valued at about $33,000. Finally, Spire Wealth Management grew its holdings in Cenovus Energy by 41.9% during the fourth quarter. Spire Wealth Management now owns 2,305 shares of the oil and gas company's stock worth $38,000 after purchasing an additional 681 shares during the period. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Price Performance

Shares of Cenovus Energy stock opened at $19.57 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.70 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $36.32 billion, a price-to-earnings ratio of 10.87 and a beta of 2.07. Cenovus Energy Inc. has a twelve month low of $14.69 and a twelve month high of $21.90. The company has a 50-day simple moving average of $19.63 and a two-hundred day simple moving average of $19.01.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.11. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.98 billion. Cenovus Energy had a net margin of 8.73% and a return on equity of 16.53%. Analysts forecast that Cenovus Energy Inc. will post 1.98 EPS for the current year.

Cenovus Energy Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were given a dividend of $0.0981 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 6.01%. Cenovus Energy's payout ratio is 29.44%.

Analysts Set New Price Targets

CVE has been the topic of a number of research analyst reports. StockNews.com cut Cenovus Energy from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 26th. Raymond James upgraded shares of Cenovus Energy to a "moderate buy" rating in a research note on Tuesday, May 28th. Finally, Scotiabank decreased their price target on shares of Cenovus Energy from $35.00 to $34.00 and set a "sector outperform" rating on the stock in a research note on Friday, July 12th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $30.67.

Read Our Latest Research Report on Cenovus Energy

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.

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