PNC Financial Services Group Inc. reduced its position in shares of Cenovus Energy Inc. (NYSE:CVE – Free Report) (TSE:CVE) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,074 shares of the oil and gas company’s stock after selling 4,292 shares during the period. PNC Financial Services Group Inc.’s holdings in Cenovus Energy were worth $1,200,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. Financial Perspectives Inc acquired a new position in shares of Cenovus Energy in the 4th quarter valued at $28,000. Headlands Technologies LLC acquired a new position in shares of Cenovus Energy in the 4th quarter valued at $33,000. NBC Securities Inc. acquired a new position in shares of Cenovus Energy in the 3rd quarter valued at $34,000. Spire Wealth Management boosted its position in shares of Cenovus Energy by 41.9% in the 4th quarter. Spire Wealth Management now owns 2,305 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 681 shares during the period. Finally, GHP Investment Advisors Inc. acquired a new stake in Cenovus Energy during the 4th quarter worth about $43,000. 51.19% of the stock is owned by institutional investors and hedge funds.
Cenovus Energy Stock Up 3.2 %
Shares of Cenovus Energy stock opened at $20.97 on Wednesday. The firm has a market cap of $38.94 billion, a price-to-earnings ratio of 11.65 and a beta of 2.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.70 and a quick ratio of 1.01. Cenovus Energy Inc. has a 52-week low of $14.69 and a 52-week high of $21.90. The stock has a 50-day simple moving average of $20.56 and a 200-day simple moving average of $18.17.
Cenovus Energy (NYSE:CVE – Get Free Report) (TSE:CVE) last announced its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.11. Cenovus Energy had a return on equity of 16.53% and a net margin of 8.73%. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.98 billion. On average, equities research analysts expect that Cenovus Energy Inc. will post 1.94 earnings per share for the current fiscal year.
Cenovus Energy Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.0981 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date is Thursday, May 16th. Cenovus Energy’s payout ratio is 21.67%.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. StockNews.com upgraded Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 3rd. Raymond James upgraded Cenovus Energy to a “moderate buy” rating in a research report on Tuesday. Morgan Stanley raised their price objective on Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, UBS Group upgraded Cenovus Energy from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $26.67.
View Our Latest Stock Report on CVE
Cenovus Energy 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.
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