Swiss National Bank Sells 170,700 Shares of Cenovus Energy Inc. (NYSE:CVE)

Swiss National Bank decreased its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,626,035 shares of the oil and gas company’s stock after selling 170,700 shares during the period. Swiss National Bank owned about 0.25% of Cenovus Energy worth $77,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. NBC Securities Inc. bought a new stake in shares of Cenovus Energy during the 3rd quarter valued at $34,000. Financial Perspectives Inc purchased a new position in shares of Cenovus Energy during the 4th quarter valued at $28,000. Headlands Technologies LLC purchased a new position in shares of Cenovus Energy during the 4th quarter valued at $33,000. GHP Investment Advisors Inc. purchased a new position in shares of Cenovus Energy during the 4th quarter valued at $43,000. Finally, Operose Advisors LLC purchased a new position in shares of Cenovus Energy during the 3rd quarter valued at $79,000. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Down 0.4 %

Shares of CVE stock opened at $20.49 on Friday. The stock has a market cap of $38.22 billion, a P/E ratio of 11.38 and a beta of 2.10. Cenovus Energy Inc. has a 52 week low of $14.69 and a 52 week high of $21.90. The company has a quick ratio of 0.91, a current ratio of 1.70 and a debt-to-equity ratio of 0.25. The company’s fifty day simple moving average is $19.74 and its two-hundred day simple moving average is $18.05.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. The business had revenue of $9.65 billion for the quarter, compared to analysts’ expectations of $9.73 billion. Cenovus Energy had a net margin of 8.73% and a return on equity of 16.53%. During the same quarter in the previous year, the company earned $0.29 EPS. Analysts predict that Cenovus Energy Inc. will post 1.88 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.0981 per share. This represents a $1.18 annualized dividend and a dividend yield of 5.74%. The ex-dividend date is Thursday, May 16th. Cenovus Energy’s dividend payout ratio is 22.78%.

Wall Street Analyst Weigh In

CVE has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on shares of Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. UBS Group upgraded shares of Cenovus Energy from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. StockNews.com upgraded shares of Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $28.00 price target on shares of Cenovus Energy in a research note on Friday, January 26th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $26.67.

About Cenovus Energy

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.