Cenovus Energy Inc. (NYSE:CVE) Stock Position Cut by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 70.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,800 shares of the oil and gas company's stock after selling 42,600 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Cenovus Energy were worth $270,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CVE. Farther Finance Advisors LLC boosted its stake in 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 acquiring an additional 851 shares during the last quarter. Sierra Ocean LLC bought a new position in shares of Cenovus Energy during the fourth quarter worth about $67,000. Blue Trust Inc. grew its stake 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 in the last quarter. Empirical Asset Management LLC bought a new stake in Cenovus Energy in the fourth quarter valued at about $174,000. Finally, Net Worth Advisory Group acquired a new stake in Cenovus Energy during the fourth quarter valued at approximately $182,000. Institutional investors and hedge funds own 51.19% of the company's stock.

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock traded down $0.06 during trading on Monday, hitting $11.19. 14,645,020 shares of the stock were exchanged, compared to its average volume of 8,619,812. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. Cenovus Energy Inc. has a 12 month low of $10.51 and a 12 month high of $21.90. The stock's fifty day moving average is $14.02 and its 200 day moving average is $15.26. The stock has a market cap of $20.40 billion, a PE ratio of 9.25 and a beta of 1.46.

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Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted 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). Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $11.08 billion. As a group, sell-side analysts anticipate that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.1269 dividend. This represents a $0.51 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend was Friday, March 14th. Cenovus Energy's dividend payout ratio is currently 40.50%.

Analyst Upgrades and Downgrades

CVE has been the subject of several research reports. Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a research report on Wednesday, March 26th. Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. National Bank Financial downgraded shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research report on Friday, February 21st. Royal Bank of Canada reaffirmed an "outperform" rating and set a $25.00 price objective on shares of Cenovus Energy in a research report on Wednesday, April 2nd. Finally, StockNews.com cut shares of Cenovus Energy from a "buy" rating to a "hold" rating in a report on Saturday, December 28th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cenovus Energy has an average rating of "Moderate Buy" and a consensus price target 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.