Mufg Securities Canada LTD. Purchases 799,001 Shares of Cenovus Energy Inc. (NYSE:CVE)

Mufg Securities Canada LTD. grew its holdings in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 69.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,952,419 shares of the oil and gas company's stock after purchasing an additional 799,001 shares during the period. Mufg Securities Canada LTD. owned about 0.11% of Cenovus Energy worth $29,577,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CVE. Guardian Partners Inc. acquired a new position in Cenovus Energy in the 4th quarter valued at approximately $924,000. American Century Companies Inc. increased its stake in shares of Cenovus Energy by 6.7% in the fourth quarter. American Century Companies Inc. now owns 660,676 shares of the oil and gas company's stock worth $10,015,000 after acquiring an additional 41,361 shares during the last quarter. Summit Global Investments raised its holdings in shares of Cenovus Energy by 66.5% during the fourth quarter. Summit Global Investments now owns 131,460 shares of the oil and gas company's stock worth $1,992,000 after acquiring an additional 52,508 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its position in Cenovus Energy by 56.1% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 219,683 shares of the oil and gas company's stock valued at $3,324,000 after purchasing an additional 78,981 shares during the last quarter. Finally, Maryland State Retirement & Pension System grew its stake in Cenovus Energy by 4.1% in the fourth quarter. Maryland State Retirement & Pension System now owns 259,125 shares of the oil and gas company's stock valued at $3,926,000 after purchasing an additional 10,294 shares in the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.

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Cenovus Energy Stock Performance

Cenovus Energy stock traded down $0.31 during trading hours on Friday, hitting $13.78. The stock had a trading volume of 7,950,072 shares, compared to its average volume of 8,539,786. Cenovus Energy Inc. has a fifty-two week low of $12.08 and a fifty-two week high of $21.90. The company has a market cap of $25.12 billion, a PE ratio of 11.39 and a beta of 1.99. The company has a 50-day moving average of $14.26 and a two-hundred day moving average of $15.42. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.27). The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $11.08 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. On average, equities research analysts anticipate that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.1269 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.51 annualized dividend and a dividend yield of 3.68%. Cenovus Energy's dividend payout ratio (DPR) is currently 40.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CVE shares. Scotiabank raised Cenovus Energy to a "strong-buy" rating in a research note on Wednesday, March 19th. Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a research note on Wednesday. Royal Bank of Canada dropped their price target on shares of Cenovus Energy from $26.00 to $25.00 and set an "outperform" rating on the stock in a research note on Friday, February 21st. StockNews.com downgraded Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. Finally, National Bank Financial cut Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research report on Friday, February 21st. Three investment 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.00.

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.