UniSuper Management Pty Ltd Sells 50,616 Shares of Cenovus Energy Inc. (NYSE:CVE)

UniSuper Management Pty Ltd lowered its stake in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 65.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,300 shares of the oil and gas company's stock after selling 50,616 shares during the quarter. UniSuper Management Pty Ltd's holdings in Cenovus Energy were worth $398,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CVE. Farther Finance Advisors LLC lifted its holdings in shares of Cenovus Energy by 104.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company's stock valued at $25,000 after buying an additional 851 shares during the period. Sierra Ocean LLC bought a new position in Cenovus Energy in the fourth quarter valued at about $67,000. Blue Trust Inc. boosted its position in Cenovus Energy by 54.7% in the fourth quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company's stock worth $72,000 after purchasing an additional 1,677 shares during the last quarter. Empirical Asset Management LLC bought a new stake in shares of Cenovus Energy during the 4th quarter valued at about $174,000. Finally, SVB Wealth LLC purchased a new stake in shares of Cenovus Energy during the 4th quarter valued at about $182,000. Institutional investors own 51.19% of the company's stock.

Cenovus Energy Price Performance

Shares of CVE traded down $1.64 during trading hours on Friday, reaching $11.25. 16,767,705 shares of the stock traded hands, compared to its average volume of 8,595,707. The company has a market cap of $20.51 billion, a P/E ratio of 9.30 and a beta of 1.46. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The company's 50-day moving average price is $14.09 and its two-hundred day moving average price is $15.31. Cenovus Energy Inc. has a 52-week low of $11.11 and a 52-week high of $21.90.

Remove Ads

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings data 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 business 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, analysts anticipate that Cenovus Energy Inc. will post 1.49 earnings per share for the current year.

Cenovus Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.1269 per share. This represents a $0.51 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date was Friday, March 14th. Cenovus Energy's dividend payout ratio (DPR) is currently 40.50%.

Analyst Upgrades and Downgrades

CVE has been the topic of a number of research reports. StockNews.com downgraded shares of Cenovus Energy from a "buy" rating to a "hold" rating in a report on Saturday, December 28th. Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a research note on Wednesday, March 26th. National Bank Financial lowered Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. Royal Bank of Canada reiterated an "outperform" rating and set a $25.00 target price on shares of Cenovus Energy in a research report on Wednesday. Finally, Scotiabank upgraded Cenovus Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. Three equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $29.00.

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.