Cenovus Energy Inc. (NYSE:CVE) Shares Bought by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. lifted its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 69.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,952,419 shares of the oil and gas company’s stock after acquiring an additional 799,001 shares during the period. Mufg Securities Canada LTD. owned 0.11% of Cenovus Energy worth $29,577,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CVE. Bridgewater Associates LP acquired a new position in shares of Cenovus Energy in the 3rd quarter valued at $33,995,000. Anson Funds Management LP boosted its holdings in Cenovus Energy by 188.2% in the third quarter. Anson Funds Management LP now owns 1,877,800 shares of the oil and gas company’s stock valued at $31,405,000 after acquiring an additional 1,226,221 shares during the last quarter. Panview Capital Ltd purchased a new stake in Cenovus Energy during the fourth quarter valued at about $16,741,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Cenovus Energy by 273.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,440,237 shares of the oil and gas company’s stock worth $21,821,000 after acquiring an additional 1,054,483 shares during the last quarter. Finally, HITE Hedge Asset Management LLC purchased a new position in shares of Cenovus Energy in the 3rd quarter worth about $11,569,000. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on CVE. 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 dropped their price objective on shares of Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Scotiabank upgraded shares of Cenovus Energy to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, StockNews.com downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. Three investment 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.25.

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock opened at $14.37 on Wednesday. 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 1 year low of $12.08 and a 1 year high of $21.90. The firm’s 50-day simple moving average is $14.32 and its 200-day simple moving average is $15.46. The firm has a market cap of $26.20 billion, a PE ratio of 11.88 and a beta of 1.99.

Cenovus Energy (NYSE:CVE) (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). Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $11.08 billion. Equities analysts forecast that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.1269 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 3.53%. Cenovus Energy’s payout ratio is currently 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.