Cenovus Energy Inc. (NYSE:CVE) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 1.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 3,952,625 shares of the oil and gas company’s stock after selling 40,988 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Cenovus Energy were worth $78,983,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Wolff Wiese Magana LLC increased its holdings in Cenovus Energy by 71.4% during the 1st quarter. Wolff Wiese Magana LLC now owns 2,400 shares of the oil and gas company’s stock worth $48,000 after purchasing an additional 1,000 shares during the period. LVW Advisors LLC purchased a new stake in shares of Cenovus Energy during the first quarter worth approximately $240,000. Hennessy Advisors Inc. purchased a new stake in shares of Cenovus Energy during the first quarter worth approximately $6,569,000. International Assets Investment Management LLC lifted its stake in Cenovus Energy by 39.9% in the first quarter. International Assets Investment Management LLC now owns 35,767 shares of the oil and gas company’s stock worth $719,000 after acquiring an additional 10,200 shares during the last quarter. Finally, Foundation Resource Management Inc. grew its holdings in Cenovus Energy by 4.5% during the 1st quarter. Foundation Resource Management Inc. now owns 419,379 shares of the oil and gas company’s stock worth $8,383,000 after acquiring an additional 17,984 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Price Performance

Shares of NYSE:CVE opened at $20.12 on Friday. Cenovus Energy Inc. has a 12 month low of $14.69 and a 12 month high of $21.90. The firm has a market capitalization of $37.41 billion, a P/E ratio of 11.18 and a beta of 2.07. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.70 and a quick ratio of 1.01. The company’s fifty day moving average price is $19.88 and its 200 day moving average price is $18.56.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Wednesday, May 1st. The oil and gas company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $9.98 billion. As a group, sell-side analysts predict that Cenovus Energy Inc. will post 2.04 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were paid a $0.0981 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date of this dividend was Thursday, May 16th. Cenovus Energy’s dividend payout ratio is currently 28.89%.

Wall Street Analysts Forecast Growth

CVE has been the topic of a number of analyst reports. StockNews.com upgraded shares of Cenovus Energy from a “buy” rating to a “strong-buy” rating in a report on Friday. Raymond James raised Cenovus Energy to a “moderate buy” rating in a report on Tuesday, May 28th. Finally, Morgan Stanley lifted their price target on Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $29.00.

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.