Cenovus Energy Inc $CVE Shares Sold by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. trimmed its holdings in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 3.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,083,387 shares of the oil and gas company’s stock after selling 79,442 shares during the period. Cenovus Energy accounts for about 1.0% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 29th largest position. Mufg Securities Canada LTD. owned about 0.12% of Cenovus Energy worth $35,370,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp increased its stake in shares of Cenovus Energy by 574.8% during the 1st quarter. Jones Financial Companies Lllp now owns 21,607 shares of the oil and gas company’s stock worth $301,000 after purchasing an additional 18,405 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Cenovus Energy by 6.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 747,472 shares of the oil and gas company’s stock valued at $10,397,000 after buying an additional 44,125 shares in the last quarter. Atria Investments Inc grew its holdings in Cenovus Energy by 32.7% during the 2nd quarter. Atria Investments Inc now owns 130,668 shares of the oil and gas company’s stock valued at $1,777,000 after buying an additional 32,196 shares during the last quarter. Bank of New York Mellon Corp increased its position in Cenovus Energy by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 1,217,726 shares of the oil and gas company’s stock worth $16,561,000 after buying an additional 33,446 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Cenovus Energy in the second quarter worth $27,000. Institutional investors and hedge funds own 51.19% of the company’s stock.

Analysts Set New Price Targets

CVE has been the topic of a number of analyst reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Cenovus Energy in a research note on Friday, February 20th. Morgan Stanley reaffirmed an “overweight” rating on shares of Cenovus Energy in a research note on Thursday, November 20th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Cenovus Energy in a research report on Tuesday, January 20th. TD Securities restated a “buy” rating on shares of Cenovus Energy in a research report on Friday, February 20th. Finally, Veritas cut shares of Cenovus Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Cenovus Energy has a consensus rating of “Moderate Buy” and an average target price of $27.33.

Cenovus Energy Stock Up 1.1%

Shares of NYSE CVE opened at $22.31 on Friday. The stock has a market capitalization of $41.95 billion, a PE ratio of 14.58 and a beta of 0.48. The company has a quick ratio of 1.04, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. The firm has a fifty day moving average of $19.18 and a 200-day moving average of $17.83. Cenovus Energy Inc has a 52-week low of $10.23 and a 52-week high of $23.39.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Thursday, February 19th. The oil and gas company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.08. The firm had revenue of $9.44 billion for 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 quarter last year, the firm earned $0.07 earnings per share. On average, analysts anticipate that Cenovus Energy Inc will post 1.49 EPS for the current year.

Cenovus Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, March 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.6%. Cenovus Energy’s payout ratio is presently 37.25%.

Cenovus Energy Profile

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.