Mitsubishi UFJ Trust & Banking Corp Invests $6.94 Million in Cenovus Energy Inc $CVE

Key Points

• Mitsubishi UFJ Trust & Banking Corp purchased a new stake of 415,200 shares of Cenovus in Q4, valued at approximately $6.94 million.
• Cenovus reported Q earnings beating on EPS ($0.36 vs. $0.28) though revenue missed estimates, and analysts hold a consensus "Buy" rating with a $29.67 price target.
• The company recently paid a quarterly dividend of $0.20 (annualized $0.80, ~2.7% yield), and institutional investors own about 51.19% of the stock.

Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 415,200 shares of the oil and gas company's stock, valued at approximately $6,942,000.

A number of other institutional investors have also recently added to or reduced their stakes in CVE. Financial Management Professionals Inc. purchased a new stake in Cenovus Energy in the 4th quarter worth $25,000. NBC Securities Inc. lifted its holdings in Cenovus Energy by 961.5% during the fourth quarter. NBC Securities Inc. now owns 1,656 shares of the oil and gas company's stock valued at $28,000 after purchasing an additional 1,500 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Cenovus Energy by 74.1% in the second quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company's stock valued at $44,000 after purchasing an additional 1,384 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Cenovus Energy in the third quarter valued at about $50,000. Finally, Allworth Financial LP increased its stake in shares of Cenovus Energy by 32.2% during the third quarter. Allworth Financial LP now owns 3,025 shares of the oil and gas company's stock worth $51,000 after purchasing an additional 737 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company's stock.

Cenovus Energy Trading Up 0.2%

CVE opened at $29.30 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.04. The company's 50 day simple moving average is $24.92 and its two-hundred day simple moving average is $20.47. Cenovus Energy Inc has a 1-year low of $11.60 and a 1-year high of $29.37. The firm has a market capitalization of $54.93 billion, a price-to-earnings ratio of 19.15 and a beta of 0.37.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.08. Cenovus Energy had a return on equity of 13.25% and a net margin of 7.92%.The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $10.89 billion. During the same period in the prior year, the business earned $0.07 earnings per share. Analysts expect that Cenovus Energy Inc will post 2.28 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, March 13th. Cenovus Energy's dividend payout ratio is presently 38.56%.

Wall Street Analyst Weigh In

CVE has been the subject of several research analyst reports. Scotiabank upgraded shares of Cenovus Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 20th. Royal Bank Of Canada boosted their price objective on Cenovus Energy from $29.00 to $31.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 18th. The Goldman Sachs Group increased their target price on Cenovus Energy from $22.00 to $29.00 and gave the company a "buy" rating in a report on Thursday, March 12th. UBS Group reaffirmed a "buy" rating on shares of Cenovus Energy in a research note on Thursday, April 9th. Finally, TD Securities reiterated a "buy" rating on shares of Cenovus Energy in a research report on Friday, February 20th. Four equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Cenovus Energy has a consensus rating of "Buy" and a consensus price target of $29.67.

About Cenovus Energy

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.

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