Russell Investments Group Ltd. Trims Holdings in Cenovus Energy Inc. (NYSE:CVE)

Russell Investments Group Ltd. cut its stake in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,052,665 shares of the oil and gas company's stock after selling 52,722 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of Cenovus Energy worth $17,627,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CVE. Vanguard Group Inc. raised its stake in shares of Cenovus Energy by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 49,480,149 shares of the oil and gas company's stock worth $1,030,177,000 after purchasing an additional 690,057 shares in the last quarter. Wellington Management Group LLP grew its position in Cenovus Energy by 0.8% in the third quarter. Wellington Management Group LLP now owns 47,327,214 shares of the oil and gas company's stock worth $986,334,000 after acquiring an additional 388,652 shares in the last quarter. Boston Partners lifted its stake in shares of Cenovus Energy by 8.6% in the 3rd quarter. Boston Partners now owns 29,412,644 shares of the oil and gas company's stock valued at $676,838,000 after purchasing an additional 2,325,082 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Cenovus Energy by 4.4% during the fourth quarter. Mackenzie Financial Corp now owns 11,053,328 shares of the oil and gas company's stock valued at $184,278,000 after buying an additional 462,273 shares in the last quarter. Finally, Ninepoint Partners LP increased its holdings in shares of Cenovus Energy by 4.5% during the 4th quarter. Ninepoint Partners LP now owns 9,200,000 shares of the oil and gas company's stock valued at $153,180,000 after acquiring an additional 400,000 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on CVE shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $28.00 price objective on shares of Cenovus Energy in a report on Friday, January 26th. StockNews.com upgraded Cenovus Energy from a "hold" rating to a "buy" rating in a research note on Thursday, April 11th. UBS Group upgraded Cenovus Energy from a "neutral" rating to a "buy" rating in a research note on Friday, February 23rd. Finally, Morgan Stanley upped their price target on Cenovus Energy from $28.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, March 28th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Cenovus Energy has a consensus rating of "Buy" and an average price target of $26.67.

Cenovus Energy Stock Performance

CVE traded down $0.08 on Friday, hitting $20.49. 8,043,443 shares of the stock traded hands, compared to its average volume of 11,227,354. The business has a fifty day moving average price of $19.69 and a two-hundred day moving average price of $18.07. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.25. Cenovus Energy Inc. has a 52 week low of $14.69 and a 52 week high of $21.90. The firm has a market capitalization of $38.22 billion, a PE ratio of 11.43 and a beta of 2.10.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. The company had revenue of $9.65 billion for the quarter, compared to analyst estimates of $9.73 billion. Cenovus Energy had a return on equity of 16.73% and a net margin of 8.73%. During the same period in the prior year, the company posted $0.29 EPS. On average, research analysts predict that Cenovus Energy Inc. will post 1.88 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.0981 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date is Thursday, May 16th. Cenovus Energy's dividend payout ratio (DPR) is currently 22.78%.

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.