Sumitomo Mitsui Trust Holdings Inc. Reduces Stock Position in Cenovus Energy Inc. (NYSE:CVE)

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 1.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,993,613 shares of the oil and gas company’s stock after selling 52,526 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.21% of Cenovus Energy worth $66,767,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Commonwealth Equity Services LLC grew its stake in shares of Cenovus Energy by 1.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 29,149 shares of the oil and gas company’s stock worth $448,000 after buying an additional 472 shares in the last quarter. CWM LLC grew its stake in shares of Cenovus Energy by 19.2% in the 3rd quarter. CWM LLC now owns 3,336 shares of the oil and gas company’s stock worth $69,000 after buying an additional 537 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of Cenovus Energy by 2.7% in the 3rd quarter. Private Advisor Group LLC now owns 22,453 shares of the oil and gas company’s stock worth $467,000 after buying an additional 598 shares in the last quarter. Schechter Investment Advisors LLC grew its stake in shares of Cenovus Energy by 1.6% in the 3rd quarter. Schechter Investment Advisors LLC now owns 39,350 shares of the oil and gas company’s stock worth $819,000 after buying an additional 611 shares in the last quarter. Finally, Lorne Steinberg Wealth Management Inc. grew its stake in shares of Cenovus Energy by 1.1% in the 3rd quarter. Lorne Steinberg Wealth Management Inc. now owns 57,715 shares of the oil and gas company’s stock worth $1,205,000 after buying an additional 630 shares in the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.

Cenovus Energy Trading Down 0.2 %

Shares of CVE opened at $20.66 on Friday. Cenovus Energy Inc. has a 1-year low of $14.69 and a 1-year high of $21.90. The company has a 50-day moving average of $18.88 and a 200 day moving average of $18.01. The firm has a market capitalization of $38.53 billion, a price-to-earnings ratio of 13.08 and a beta of 2.15. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.56 and a quick ratio of 0.91.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Cenovus Energy had a net margin of 7.88% and a return on equity of 14.85%. The company had revenue of $9.65 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same quarter last year, the business posted $0.29 EPS. On average, research analysts expect that Cenovus Energy Inc. will post 1.81 EPS for the current year.

Cenovus Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $0.1033 per share. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, March 14th. This represents a $0.41 dividend on an annualized basis and a yield of 2.00%. Cenovus Energy’s dividend payout ratio (DPR) is presently 25.95%.

Wall Street Analyst Weigh In

CVE has been the subject of a number of recent research reports. StockNews.com raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $28.00 price target on shares of Cenovus Energy in a research note on Friday, January 26th. UBS Group raised shares of Cenovus Energy from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. Finally, Morgan Stanley lifted their price target on shares of Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $26.67.

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.