State of Wyoming Sells 12,203 Shares of Cenovus Energy Inc. (NYSE:CVE)

State of Wyoming trimmed its holdings in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 31.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,745 shares of the oil and gas company’s stock after selling 12,203 shares during the period. State of Wyoming’s holdings in Cenovus Energy were worth $405,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital World Investors raised its position in shares of Cenovus Energy by 15.8% during the fourth quarter. Capital World Investors now owns 191,412,590 shares of the oil and gas company’s stock worth $2,901,131,000 after purchasing an additional 26,127,617 shares during the period. Capital International Investors increased its stake in Cenovus Energy by 0.7% during the 4th quarter. Capital International Investors now owns 53,572,829 shares of the oil and gas company’s stock worth $811,769,000 after purchasing an additional 382,519 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Cenovus Energy by 48.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,001,002 shares of the oil and gas company’s stock worth $196,935,000 after buying an additional 4,220,663 shares during the period. Geode Capital Management LLC lifted its stake in Cenovus Energy by 29.2% in the fourth quarter. Geode Capital Management LLC now owns 8,287,334 shares of the oil and gas company’s stock valued at $128,783,000 after buying an additional 1,873,415 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Cenovus Energy by 3.6% in the fourth quarter. Invesco Ltd. now owns 8,043,884 shares of the oil and gas company’s stock valued at $121,865,000 after buying an additional 276,023 shares during the period. 51.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVE has been the topic of a number of research analyst reports. Scotiabank upgraded shares of Cenovus Energy to a “strong-buy” rating in a report on Wednesday, March 19th. The Goldman Sachs Group dropped their price target on Cenovus Energy from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. National Bank Financial lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, February 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 price objective on shares of Cenovus Energy in a report on Friday, April 11th. Finally, Veritas lowered Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 14th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cenovus Energy currently has an average rating of “Moderate Buy” and an average target price of $25.75.

Cenovus Energy Trading Down 1.8%

Shares of NYSE:CVE opened at $13.29 on Wednesday. The company’s 50-day moving average price is $12.69 and its two-hundred day moving average price is $14.18. Cenovus Energy Inc. has a one year low of $10.23 and a one year high of $21.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95. The stock has a market capitalization of $24.22 billion, a PE ratio of 10.98 and a beta of 0.95.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. The business had revenue of $11.15 billion for the quarter, compared to the consensus estimate of $12.39 billion. During the same quarter in the previous year, the business earned $0.62 earnings per share. On average, equities analysts forecast 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. Stockholders of record on Friday, March 14th were paid a dividend of $0.1269 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date was Friday, March 14th. Cenovus Energy’s dividend payout ratio is currently 51.40%.

Cenovus Energy Company Profile

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.