Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in Cenovus Energy Inc (NYSE:CVE – Free Report) (TSE:CVE) by 96.6% in the first quarter, Holdings Channel.com reports. The firm owned 518,700 shares of the oil and gas company’s stock after selling 14,895,479 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Cenovus Energy were worth $13,761,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. Capital Research Global Investors lifted its position in Cenovus Energy by 16.6% in the fourth quarter. Capital Research Global Investors now owns 124,313,513 shares of the oil and gas company’s stock valued at $2,103,090,000 after purchasing an additional 17,730,542 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Cenovus Energy by 322.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 15,521,050 shares of the oil and gas company’s stock valued at $211,338,000 after buying an additional 11,849,355 shares during the last quarter. FIL Ltd raised its holdings in Cenovus Energy by 40.0% during the 4th quarter. FIL Ltd now owns 38,533,059 shares of the oil and gas company’s stock valued at $651,880,000 after buying an additional 11,019,212 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Cenovus Energy by 12.8% in the fourth quarter. Vanguard Group Inc. now owns 63,525,477 shares of the oil and gas company’s stock valued at $1,074,660,000 after acquiring an additional 7,197,843 shares during the period. Finally, Alberta Investment Management Corp boosted its holdings in shares of Cenovus Energy by 996.7% during the fourth quarter. Alberta Investment Management Corp now owns 5,518,825 shares of the oil and gas company’s stock worth $93,367,000 after purchasing an additional 5,015,625 shares during the period. 51.19% of the stock is currently owned by hedge funds and other institutional investors.
Cenovus Energy Price Performance
Shares of Cenovus Energy stock opened at $28.03 on Tuesday. The stock’s fifty day moving average is $27.39 and its 200 day moving average is $24.91. The stock has a market cap of $52.16 billion, a P/E ratio of 15.40 and a beta of 0.34. Cenovus Energy Inc has a one year low of $14.48 and a one year high of $32.07. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.57.
Cenovus Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 15th. Cenovus Energy’s dividend payout ratio is currently 34.62%.
Wall Street Analysts Forecast Growth
CVE has been the topic of a number of recent analyst reports. Scotiabank upgraded Cenovus Energy to a “strong-buy” rating in a research report on Friday, June 26th. Weiss Ratings raised shares of Cenovus Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. Zacks Research cut shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Lake Street Capital set a $36.00 target price on Cenovus Energy in a research report on Wednesday, May 13th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Cenovus Energy in a research note on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $35.25.
Check Out Our Latest Stock Report on Cenovus Energy
Cenovus Energy Company Profile
Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.
The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.
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