Mitsubishi UFJ Trust & Banking Corp Has $270,000 Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 70.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 SEC filing.

Other hedge funds also recently modified their holdings of the company. Guardian Partners Inc. acquired a new stake in Cenovus Energy during the fourth quarter worth about $924,000. American Century Companies Inc. boosted its position in shares of Cenovus Energy by 6.7% during the 4th quarter. American Century Companies Inc. now owns 660,676 shares of the oil and gas company’s stock worth $10,015,000 after acquiring an additional 41,361 shares in the last quarter. Summit Global Investments increased its stake in Cenovus Energy by 66.5% in the fourth quarter. Summit Global Investments now owns 131,460 shares of the oil and gas company’s stock valued at $1,992,000 after acquiring an additional 52,508 shares during the last quarter. Northwest & Ethical Investments L.P. raised its position in Cenovus Energy by 56.1% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 219,683 shares of the oil and gas company’s stock valued at $3,324,000 after purchasing an additional 78,981 shares in the last quarter. Finally, Maryland State Retirement & Pension System lifted its stake in Cenovus Energy by 4.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 259,125 shares of the oil and gas company’s stock worth $3,926,000 after purchasing an additional 10,294 shares during the last quarter. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Trading Up 0.4 %

CVE opened at $14.05 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95. Cenovus Energy Inc. has a fifty-two week low of $12.08 and a fifty-two week high of $21.90. The company’s 50 day moving average price is $14.20 and its two-hundred day moving average price is $15.37. The firm has a market capitalization of $25.61 billion, a price-to-earnings ratio of 11.61 and a beta of 1.99.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted 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 company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. As a group, research analysts predict that Cenovus Energy Inc. will post 1.49 earnings per share for the current year.

Cenovus Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.1269 dividend. This represents a $0.51 annualized dividend and a yield of 3.61%. The ex-dividend date was Friday, March 14th. Cenovus Energy’s payout ratio is presently 40.50%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CVE. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price target on shares of Cenovus Energy in a research note on Wednesday. National Bank Financial downgraded 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 note on Saturday, December 28th. Morgan Stanley reiterated an “overweight” rating on shares of Cenovus Energy in a research report on Wednesday, March 26th. Finally, Scotiabank upgraded shares of 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 issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.