Public Employees Retirement System of Ohio Takes $4.02 Million Position in Cenovus Energy Inc. (NYSE:CVE)

Public Employees Retirement System of Ohio purchased a new stake in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 240,351 shares of the oil and gas company's stock, valued at approximately $4,023,000.

A number of other institutional investors also recently modified their holdings of the business. Truvestments Capital LLC acquired a new position in Cenovus Energy during the 3rd quarter worth approximately $25,000. Blue Trust Inc. increased its holdings in shares of Cenovus Energy by 640.3% during the third quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company's stock worth $51,000 after buying an additional 2,651 shares in the last quarter. SevenBridge Financial Group LLC bought a new position in shares of Cenovus Energy in the 3rd quarter valued at $162,000. Northwestern Mutual Wealth Management Co. grew its position in Cenovus Energy by 8.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company's stock worth $170,000 after acquiring an additional 643 shares during the last quarter. Finally, FCG Investment Co acquired a new position in Cenovus Energy in the 3rd quarter worth about $211,000. Institutional investors and hedge funds own 51.19% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CVE. StockNews.com cut shares of Cenovus Energy from a "buy" rating to a "hold" rating in a research report on Thursday, December 5th. BMO Capital Markets reduced their price objective on shares of Cenovus Energy from $31.00 to $28.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Finally, TD Securities downgraded Cenovus Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $30.00.

Cenovus Energy Trading Down 2.5 %

CVE traded down $0.38 during trading on Monday, reaching $14.87. 13,394,451 shares of the stock traded hands, compared to its average volume of 8,804,228. The stock's 50-day moving average is $16.19 and its 200 day moving average is $17.79. Cenovus Energy Inc. has a 12 month low of $14.69 and a 12 month high of $21.90. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $27.16 billion, a PE ratio of 10.26 and a beta of 2.02.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its earnings results on Thursday, October 31st. The oil and gas company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.34 by $0.08. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $10.25 billion. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The firm's revenue for the quarter was down 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.72 EPS. Equities analysts anticipate that Cenovus Energy Inc. will post 1.48 earnings per share for the current year.

Cenovus Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.133 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.53 annualized dividend and a dividend yield of 3.58%. This is a positive change from Cenovus Energy's previous quarterly dividend of $0.13. Cenovus Energy's payout ratio is currently 36.55%.

About Cenovus Energy

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.