Yousif Capital Management LLC Cuts Stock Position in Cenovus Energy Inc. (NYSE:CVE)

Yousif Capital Management LLC decreased its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 41.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,199 shares of the oil and gas company’s stock after selling 11,440 shares during the quarter. Yousif Capital Management LLC’s holdings in Cenovus Energy were worth $245,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Smead Capital Management Inc. boosted its position in shares of Cenovus Energy by 39.3% during the third quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company’s stock valued at $257,831,000 after buying an additional 4,351,960 shares during the last quarter. HITE Hedge Asset Management LLC purchased a new stake in shares of Cenovus Energy during the 3rd quarter valued at about $11,569,000. Entropy Technologies LP bought a new stake in shares of Cenovus Energy in the third quarter worth approximately $3,472,000. Assenagon Asset Management S.A. raised its holdings in shares of Cenovus Energy by 1,289.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 430,781 shares of the oil and gas company’s stock valued at $6,526,000 after purchasing an additional 399,787 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in Cenovus Energy by 44.1% during the third quarter. Two Sigma Advisers LP now owns 1,284,600 shares of the oil and gas company’s stock valued at $21,491,000 after purchasing an additional 393,100 shares during the period. 51.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CVE. StockNews.com lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $28.00 price objective on shares of Cenovus Energy in a research report on Monday, January 6th. Finally, BMO Capital Markets dropped their target price on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Cenovus Energy currently has an average rating of “Moderate Buy” and an average target price of $30.00.

Cenovus Energy Stock Performance

NYSE:CVE opened at $15.31 on Tuesday. The stock has a 50-day simple moving average of $14.99 and a two-hundred day simple moving average of $16.35. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. Cenovus Energy Inc. has a 52-week low of $13.76 and a 52-week high of $21.90. The firm has a market capitalization of $27.93 billion, a PE ratio of 10.56 and a beta of 1.99.

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.