OMERS ADMINISTRATION Corp Sells 38,795 Shares of Cenovus Energy Inc. (NYSE:CVE)

OMERS ADMINISTRATION Corp cut its stake in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 38.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,806 shares of the oil and gas company's stock after selling 38,795 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Cenovus Energy were worth $936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its stake in Cenovus Energy by 104.9% in the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 851 shares during the period. Sierra Ocean LLC bought a new position in shares of Cenovus Energy in the fourth quarter worth approximately $67,000. Blue Trust Inc. increased its stake in shares of Cenovus Energy by 54.7% in the fourth quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company's stock worth $72,000 after buying an additional 1,677 shares during the period. Natixis purchased a new position in shares of Cenovus Energy in the fourth quarter worth $98,000. Finally, Black Maple Capital Management LP bought a new stake in Cenovus Energy during the 4th quarter valued at $167,000. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Cenovus Energy Stock Performance

Cenovus Energy stock traded down $0.25 during trading on Tuesday, reaching $13.29. The company had a trading volume of 10,466,324 shares, compared to its average volume of 8,993,400. The firm's 50-day simple moving average is $12.69 and its 200 day simple moving average is $14.18. Cenovus Energy Inc. has a 52 week low of $10.23 and a 52 week high of $21.08. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $24.22 billion, a price-to-earnings ratio of 10.98 and a beta of 0.95.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings data on Thursday, May 8th. The oil and gas company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.29 by $0.03. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The firm had revenue of $11.15 billion for the quarter, compared to the consensus estimate of $12.39 billion. During the same period last year, the firm earned $0.62 EPS. Sell-side analysts forecast that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The business also recently announced 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. The ex-dividend date was Friday, March 14th. This represents a $0.51 annualized dividend and a yield of 3.82%. Cenovus Energy's payout ratio is 51.40%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Scotiabank upgraded shares of Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. Royal Bank of Canada restated an "outperform" rating and issued a $25.00 price objective on shares of Cenovus Energy in a report on Friday, April 11th. Veritas cut shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a report on Tuesday, April 15th. Finally, National Bankshares reissued a "sector perform" rating on shares of Cenovus Energy in a report on Friday, April 25th. 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 company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.