Cenovus Energy Inc. (NYSE:CVE) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 5.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 72,074 shares of the oil and gas company’s stock after selling 4,292 shares during the period. PNC Financial Services Group Inc.’s holdings in Cenovus Energy were worth $1,200,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Perspectives Inc acquired a new stake in Cenovus Energy in the 4th quarter valued at approximately $28,000. Headlands Technologies LLC acquired a new stake in Cenovus Energy in the 4th quarter valued at approximately $33,000. Spire Wealth Management increased its holdings in Cenovus Energy by 41.9% in the 4th quarter. Spire Wealth Management now owns 2,305 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 681 shares during the last quarter. GHP Investment Advisors Inc. acquired a new position in shares of Cenovus Energy in the fourth quarter worth $43,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in shares of Cenovus Energy in the fourth quarter worth $57,000. Institutional investors and hedge funds own 51.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. StockNews.com downgraded shares of Cenovus Energy from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 14th. Finally, Raymond James upgraded shares of Cenovus Energy to a “moderate buy” rating in a research note on Tuesday, May 28th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $29.00.

Cenovus Energy Stock Performance

Shares of CVE stock opened at $18.65 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average price of $20.10 and a 200 day moving average price of $18.35. The company has a market cap of $34.64 billion, a P/E ratio of 10.36 and a beta of 2.06. Cenovus Energy Inc. has a 12 month low of $14.69 and a 12 month high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Wednesday, May 1st. The oil and gas company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. Cenovus Energy had a net margin of 8.73% and a return on equity of 16.53%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.98 billion. Sell-side analysts predict that Cenovus Energy Inc. will post 2.04 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were given a $0.0981 dividend. The ex-dividend date was Thursday, May 16th. This represents a $1.18 dividend on an annualized basis and a yield of 6.31%. Cenovus Energy’s dividend payout ratio (DPR) is presently 28.89%.

Cenovus Energy 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.