Swiss National Bank Has $60.35 Million Holdings in Cenovus Energy Inc. (NYSE:CVE)

Swiss National Bank reduced its stake in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,983,135 shares of the oil and gas company's stock after selling 228,100 shares during the quarter. Swiss National Bank owned 0.22% of Cenovus Energy worth $60,350,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Alberta Investment Management Corp grew its position in shares of Cenovus Energy by 10.1% in the fourth quarter. Alberta Investment Management Corp now owns 4,494,400 shares of the oil and gas company's stock valued at $68,094,000 after purchasing an additional 411,000 shares during the last quarter. Amundi raised its stake in Cenovus Energy by 1.7% during the fourth quarter. Amundi now owns 4,678,976 shares of the oil and gas company's stock worth $71,775,000 after purchasing an additional 77,548 shares during the period. Smead Capital Management Inc. raised its stake in Cenovus Energy by 39.3% during the third quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company's stock worth $257,831,000 after purchasing an additional 4,351,960 shares during the period. HITE Hedge Asset Management LLC purchased a new position in shares of Cenovus Energy in the 3rd quarter valued at $11,569,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Cenovus Energy by 1,289.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 430,781 shares of the oil and gas company's stock valued at $6,526,000 after acquiring an additional 399,787 shares during the period. 51.19% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

CVE has been the topic of several analyst reports. National Bank Financial downgraded shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. StockNews.com downgraded shares of Cenovus Energy from a "buy" rating to a "hold" rating in a research report on Saturday, December 28th. Finally, Royal Bank of Canada lowered their price objective on shares of Cenovus Energy from $26.00 to $25.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Cenovus Energy presently has an average rating of "Moderate Buy" and a consensus target price of $29.25.

Cenovus Energy Stock Performance

NYSE CVE traded up $0.29 on Wednesday, hitting $13.90. The stock had a trading volume of 8,217,630 shares, compared to its average volume of 11,541,672. The company's 50-day moving average is $14.43 and its two-hundred day moving average is $15.59. The stock has a market cap of $25.33 billion, a price-to-earnings ratio of 11.48 and a beta of 1.99. Cenovus Energy Inc. has a one year low of $12.07 and a one year 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.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings results 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 company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. On average, analysts expect that Cenovus Energy Inc. will post 1.49 earnings per share for the current year.

Cenovus Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.1269 per share. This represents a $0.51 annualized dividend and a yield of 3.65%. The ex-dividend date is Friday, March 14th. Cenovus Energy's dividend payout ratio is presently 40.50%.

Cenovus Energy 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.