OLD National Bancorp IN Has $561,000 Holdings in Cenovus Energy Inc. (NYSE:CVE)

OLD National Bancorp IN cut its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 2.9% in the fourth quarter, HoldingsChannel reports. The fund owned 33,698 shares of the oil and gas company’s stock after selling 1,010 shares during the quarter. OLD National Bancorp IN’s holdings in Cenovus Energy were worth $561,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. NBC Securities Inc. acquired a new stake in Cenovus Energy during the 3rd quarter worth about $34,000. GHP Investment Advisors Inc. purchased a new stake in shares of Cenovus Energy during the 4th quarter worth about $43,000. CWM LLC raised its stake in shares of Cenovus Energy by 19.2% during the 3rd quarter. CWM LLC now owns 3,336 shares of the oil and gas company’s stock worth $69,000 after purchasing an additional 537 shares in the last quarter. Operose Advisors LLC purchased a new stake in shares of Cenovus Energy during the 3rd quarter worth about $79,000. Finally, Y.D. More Investments Ltd purchased a new stake in shares of Cenovus Energy during the 3rd quarter worth about $104,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CVE. Morgan Stanley raised their price target on Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. UBS Group raised Cenovus Energy from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $28.00 price objective on shares of Cenovus Energy in a research note on Friday, January 26th. Finally, StockNews.com raised Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $26.67.

Cenovus Energy Stock Down 0.2 %

Shares of CVE stock opened at $21.23 on Thursday. Cenovus Energy Inc. has a 12 month low of $14.69 and a 12 month high of $21.90. The firm has a market cap of $39.60 billion, a PE ratio of 13.44 and a beta of 2.15. The stock has a 50 day moving average of $19.16 and a 200-day moving average of $18.02. The company has a quick ratio of 0.91, a current ratio of 1.56 and a debt-to-equity ratio of 0.25.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its earnings results on Thursday, February 15th. The oil and gas company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. Cenovus Energy had a net margin of 7.88% and a return on equity of 14.85%. The firm had revenue of $9.65 billion during the quarter, compared to analysts’ expectations of $9.73 billion. During the same period in the prior year, the company earned $0.29 EPS. On average, equities analysts predict that Cenovus Energy Inc. will post 1.88 EPS for the current year.

Cenovus Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.1033 per share. This represents a $0.41 dividend on an annualized basis and a dividend yield of 1.95%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, March 14th. Cenovus Energy’s dividend payout ratio (DPR) is presently 25.95%.

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.