Cenovus Energy Inc. (NYSE:CVE) Position Raised by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. lifted its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 69.3% in the 4th quarter, Holdings Channel reports. The fund owned 1,952,419 shares of the oil and gas company’s stock after buying an additional 799,001 shares during the period. Mufg Securities Canada LTD.’s holdings in Cenovus Energy were worth $29,577,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC boosted its stake in Cenovus Energy by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 6,413,919 shares of the oil and gas company’s stock valued at $109,232,000 after purchasing an additional 568,732 shares during the period. Amundi increased its position in Cenovus Energy by 1.7% in the 4th quarter. Amundi now owns 4,678,976 shares of the oil and gas company’s stock valued at $71,775,000 after acquiring an additional 77,548 shares during the period. Alberta Investment Management Corp raised its stake in Cenovus Energy by 10.1% during the 4th quarter. Alberta Investment Management Corp now owns 4,494,400 shares of the oil and gas company’s stock valued at $68,094,000 after acquiring an additional 411,000 shares in the last quarter. Recurrent Investment Advisors LLC boosted its position in Cenovus Energy by 11.6% during the 3rd quarter. Recurrent Investment Advisors LLC now owns 4,100,212 shares of the oil and gas company’s stock worth $69,764,000 after acquiring an additional 426,002 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Cenovus Energy by 8.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,958,866 shares of the oil and gas company’s stock worth $59,983,000 after purchasing an additional 305,674 shares in the last quarter. Institutional investors own 51.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CVE. Scotiabank raised shares of Cenovus Energy to a “strong-buy” rating in a report on Wednesday, March 19th. Royal Bank of Canada reduced their price target on shares of Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. National Bank Financial cut Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, February 21st. Finally, StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.25.

Cenovus Energy Price Performance

Shares of NYSE:CVE opened at $14.37 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. The company has a market capitalization of $26.20 billion, a PE ratio of 11.88 and a beta of 1.99. The stock has a fifty day moving average of $14.32 and a 200-day moving average of $15.46. Cenovus Energy Inc. has a one year low of $12.08 and a one year high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.27). The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. As a group, equities analysts anticipate that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.1269 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.51 annualized dividend and a dividend yield of 3.53%. Cenovus Energy’s dividend payout ratio (DPR) is presently 40.50%.

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.