State of Wyoming Has $405,000 Position in Cenovus Energy Inc. (NYSE:CVE)

State of Wyoming cut 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 SEC. The institutional investor owned 26,745 shares of the oil and gas company’s stock after selling 12,203 shares during the quarter. State of Wyoming’s holdings in Cenovus Energy were worth $405,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital World Investors grew its holdings in Cenovus Energy by 15.8% during the 4th quarter. Capital World Investors now owns 191,412,590 shares of the oil and gas company’s stock worth $2,901,131,000 after acquiring an additional 26,127,617 shares during the last quarter. Capital International Investors lifted its position in shares of Cenovus Energy by 0.7% during the fourth 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 grew its stake in shares of Cenovus Energy by 48.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,001,002 shares of the oil and gas company’s stock valued at $196,935,000 after purchasing an additional 4,220,663 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 purchasing an additional 1,873,415 shares in the last quarter. Finally, Invesco Ltd. raised its position in Cenovus Energy by 3.6% in the 4th quarter. Invesco Ltd. now owns 8,043,884 shares of the oil and gas company’s stock worth $121,865,000 after purchasing an additional 276,023 shares during the last quarter. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Stock Down 1.8%

Shares of Cenovus Energy stock opened at $13.29 on Wednesday. The business has a fifty day simple moving average of $12.69 and a 200 day simple moving average of $14.18. The stock has a market cap of $24.22 billion, a PE ratio of 10.98 and a beta of 0.95. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. Cenovus Energy Inc. has a 12 month low of $10.23 and a 12 month high of $21.08.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The firm had revenue of $11.15 billion for the quarter, compared to analysts’ expectations of $12.39 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. During the same quarter last year, the business earned $0.62 earnings per share. Research analysts predict that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.1269 per share. This represents a $0.51 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Friday, March 14th. Cenovus Energy’s payout ratio is 51.40%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. National Bank Financial lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, February 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 price target on shares of Cenovus Energy in a research note on Friday, April 11th. National Bankshares reiterated a “sector perform” rating on shares of Cenovus Energy in a report on Friday, April 25th. Scotiabank raised Cenovus Energy to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Veritas lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 14th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.75.

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.