Cenovus Energy Inc. (NYSE:CVE) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 1.3% in the fourth quarter, HoldingsChannel reports. The firm owned 3,993,613 shares of the oil and gas company’s stock after selling 52,526 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Cenovus Energy were worth $66,767,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CVE. NBC Securities Inc. acquired a new position in shares of Cenovus Energy in the third quarter valued at approximately $34,000. KB Financial Partners LLC acquired a new position in shares of Cenovus Energy in the first quarter valued at approximately $40,000. GHP Investment Advisors Inc. purchased a new position in Cenovus Energy in the fourth quarter worth approximately $43,000. CWM LLC lifted its stake in Cenovus Energy by 19.2% in the third quarter. CWM LLC now owns 3,336 shares of the oil and gas company’s stock worth $69,000 after acquiring an additional 537 shares during the last quarter. Finally, Operose Advisors LLC purchased a new position in Cenovus Energy in the third quarter worth approximately $79,000. Institutional investors and hedge funds own 51.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. UBS Group upgraded shares of Cenovus Energy from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $28.00 price target on shares of Cenovus Energy in a research note on Friday, January 26th. Finally, Morgan Stanley lifted their price target on shares of Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cenovus Energy has an average rating of “Buy” and an average target price of $26.67.

Cenovus Energy Stock Down 0.2 %

Shares of NYSE:CVE opened at $20.66 on Friday. The company has a market capitalization of $38.53 billion, a PE ratio of 13.08 and a beta of 2.15. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.25. Cenovus Energy Inc. has a twelve month low of $14.69 and a twelve month high of $21.90. The firm has a 50 day simple moving average of $18.88 and a 200-day simple moving average of $18.01.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The business had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $9.73 billion. Cenovus Energy had a net margin of 7.88% and a return on equity of 14.85%. During the same quarter in the previous year, the firm earned $0.29 EPS. On average, equities analysts predict that Cenovus Energy Inc. will post 1.81 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.1033 per share. This represents a $0.41 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Thursday, March 14th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.10. Cenovus Energy’s payout ratio is currently 25.95%.

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.