Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 48.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,144,462 shares of the oil and gas company’s stock after selling 2,984,724 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.26% of Cenovus Energy worth $19,086,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. WealthStone Inc. boosted its position in shares of Cenovus Energy by 6.5% during the fourth quarter. WealthStone Inc. now owns 48,336 shares of the oil and gas company’s stock worth $292,000 after buying an additional 2,941 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Cenovus Energy during the fourth quarter worth about $278,000. State of Wisconsin Investment Board boosted its position in shares of Cenovus Energy by 2.6% during the fourth quarter. State of Wisconsin Investment Board now owns 1,112,698 shares of the oil and gas company’s stock worth $6,769,000 after buying an additional 28,008 shares during the period. CIBC Asset Management Inc boosted its position in shares of Cenovus Energy by 23.6% during the fourth quarter. CIBC Asset Management Inc now owns 4,116,475 shares of the oil and gas company’s stock worth $25,005,000 after buying an additional 786,750 shares during the period. Finally, M&G Investment Management Ltd. boosted its position in shares of Cenovus Energy by 4.5% during the fourth quarter. M&G Investment Management Ltd. now owns 556,197 shares of the oil and gas company’s stock worth $3,495,000 after buying an additional 23,831 shares during the period. 72.72% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on CVE shares. Scotiabank upped their price objective on Cenovus Energy from $7.00 to $9.25 and gave the stock a “sector perform” rating in a research report on Thursday, January 14th. TD Securities reduced their price objective on Cenovus Energy from $10.50 to $10.00 and set a “buy” rating for the company in a research report on Friday, January 29th. Morgan Stanley upgraded Cenovus Energy from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $6.00 to $9.00 in a report on Friday, December 11th. Raymond James upped their target price on Cenovus Energy from $6.00 to $7.50 and gave the stock a “market perform” rating in a report on Monday, October 26th. Finally, CIBC began coverage on Cenovus Energy in a report on Thursday, January 14th. They set an “outperformer” rating and a $11.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. Cenovus Energy currently has a consensus rating of “Hold” and an average target price of $7.95.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Monday, February 8th. The oil and gas company reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.27). Cenovus Energy had a negative return on equity of 12.48% and a negative net margin of 14.15%. During the same period in the prior year, the business posted $0.09 EPS. Equities research analysts expect that Cenovus Energy Inc. will post -1.25 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 31st. Stockholders of record on Monday, March 15th will be paid a dividend of $0.0137 per share. The ex-dividend date of this dividend is Friday, March 12th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.76%. Cenovus Energy’s dividend payout ratio (DPR) is currently 17.86%.
About Cenovus Energy
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company operates through Oil Sands, Deep Basin, and Refining and Marketing segments. The Oil Sands segment develops and produces bitumen in northeast Alberta.
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