Cenovus Energy Inc. (NYSE:CVE) Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd cut its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 65.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVE. Farther Finance Advisors LLC raised its stake in shares of Cenovus Energy by 104.9% in the fourth quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 851 shares during the last quarter. Wahed Invest LLC lifted its stake in Cenovus Energy by 5.6% during the 3rd quarter. Wahed Invest LLC now owns 16,489 shares of the oil and gas company’s stock valued at $276,000 after acquiring an additional 875 shares during the period. Montgomery Investment Management Inc. boosted its holdings in shares of Cenovus Energy by 1.6% in the 4th quarter. Montgomery Investment Management Inc. now owns 56,535 shares of the oil and gas company’s stock valued at $857,000 after acquiring an additional 894 shares during the last quarter. Harmony Asset Management LLC increased its stake in shares of Cenovus Energy by 8.1% in the third quarter. Harmony Asset Management LLC now owns 13,400 shares of the oil and gas company’s stock worth $224,000 after acquiring an additional 1,000 shares during the period. Finally, TD Private Client Wealth LLC raised its holdings in shares of Cenovus Energy by 3.2% during the third quarter. TD Private Client Wealth LLC now owns 40,194 shares of the oil and gas company’s stock worth $672,000 after purchasing an additional 1,236 shares during the last quarter. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CVE shares. Scotiabank raised shares of Cenovus Energy to a “strong-buy” rating in a report on Wednesday, March 19th. Royal Bank of Canada lowered their target price on 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 cut Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. Morgan Stanley restated an “overweight” rating on shares of Cenovus Energy in a research report on Wednesday, March 26th. Finally, National Bank Financial lowered shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, February 21st. Three 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 stock. Based on data from MarketBeat, Cenovus Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

Cenovus Energy Stock Performance

NYSE CVE opened at $13.91 on Tuesday. The stock has a market capitalization of $25.36 billion, a price-to-earnings ratio of 11.50 and a beta of 1.99. The stock has a 50-day moving average of $14.24 and a 200 day moving average of $15.40. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. Cenovus Energy Inc. has a twelve month low of $12.08 and a twelve month high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, February 20th. The oil and gas company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.27). Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $11.08 billion. Sell-side analysts anticipate that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal 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 given a dividend of $0.1269 per share. This represents a $0.51 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date was Friday, March 14th. Cenovus Energy’s dividend payout ratio is presently 40.50%.

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.