Mitsubishi UFJ Trust & Banking Corp Has $226,000 Position in Cenovus Energy Inc. (NYSE:CVE)

Mitsubishi UFJ Trust & Banking Corp reduced its position in Cenovus Energy Inc. (NYSE:CVEGet Rating) (TSE:CVE) by 93.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,165 shares of the oil and gas company’s stock after selling 97,210 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Cenovus Energy were worth $226,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Egerton Capital UK LLP acquired a new stake in shares of Cenovus Energy in the second quarter worth $348,567,000. Swiss National Bank grew its position in Cenovus Energy by 7.3% in the 2nd quarter. Swiss National Bank now owns 6,251,635 shares of the oil and gas company’s stock worth $118,726,000 after purchasing an additional 425,800 shares during the last quarter. Pictet Asset Management SA increased its holdings in shares of Cenovus Energy by 5.1% during the 2nd quarter. Pictet Asset Management SA now owns 450,924 shares of the oil and gas company’s stock worth $8,561,000 after purchasing an additional 22,071 shares during the period. SeaCrest Wealth Management LLC acquired a new position in shares of Cenovus Energy during the second quarter valued at about $34,000. Finally, Eqis Capital Management Inc. lifted its stake in shares of Cenovus Energy by 152.9% in the second quarter. Eqis Capital Management Inc. now owns 60,772 shares of the oil and gas company’s stock valued at $1,155,000 after buying an additional 36,740 shares during the period. Institutional investors and hedge funds own 50.30% of the company’s stock.

Cenovus Energy Trading Down 1.3 %

CVE stock opened at $20.26 on Thursday. The business has a fifty day moving average price of $18.74 and a 200 day moving average price of $19.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.55 and a quick ratio of 1.00. Cenovus Energy Inc. has a fifty-two week low of $10.72 and a fifty-two week high of $24.91. The stock has a market capitalization of $38.88 billion, a price-to-earnings ratio of 10.08 and a beta of 2.33.

Cenovus Energy Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be issued a $0.114 dividend. The ex-dividend date is Thursday, November 17th. Cenovus Energy’s dividend payout ratio is 14.93%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Royal Bank of Canada boosted their price target on Cenovus Energy from C$31.00 to C$32.00 in a research note on Thursday, November 3rd. National Bank Financial lowered their price objective on Cenovus Energy from C$38.00 to C$36.00 in a research report on Friday, September 30th. The Goldman Sachs Group cut Cenovus Energy from a “buy” rating to a “neutral” rating and set a $23.00 target price for the company. in a research report on Monday. Credit Suisse Group lowered their price target on shares of Cenovus Energy from C$37.00 to C$35.00 in a report on Monday. Finally, Scotiabank reduced their price objective on shares of Cenovus Energy from C$34.00 to C$33.00 in a report on Thursday, October 13th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $29.56.

Cenovus Energy Company Profile

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Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States, and the Asia Pacific region. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments.

See Also

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Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

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