Blue Trust Inc. Raises Holdings in Cenovus Energy Inc. (NYSE:CVE)

Blue Trust Inc. lifted its holdings in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 640.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,065 shares of the oil and gas company’s stock after acquiring an additional 2,651 shares during the period. Blue Trust Inc.’s holdings in Cenovus Energy were worth $51,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CVE. SVB Wealth LLC increased its position in shares of Cenovus Energy by 2.6% during the first quarter. SVB Wealth LLC now owns 19,710 shares of the oil and gas company’s stock worth $394,000 after acquiring an additional 507 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Cenovus Energy by 8.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company’s stock valued at $170,000 after purchasing an additional 643 shares in the last quarter. Cetera Advisors LLC increased its holdings in Cenovus Energy by 5.2% during the 1st quarter. Cetera Advisors LLC now owns 16,347 shares of the oil and gas company’s stock worth $327,000 after purchasing an additional 801 shares during the last quarter. Gold Investment Management Ltd. increased its stake in shares of Cenovus Energy by 4.6% in the first quarter. Gold Investment Management Ltd. now owns 18,881 shares of the oil and gas company’s stock worth $378,000 after buying an additional 833 shares during the last quarter. Finally, First Hawaiian Bank raised its position in shares of Cenovus Energy by 1.6% during the 2nd quarter. First Hawaiian Bank now owns 69,273 shares of the oil and gas company’s stock valued at $1,362,000 after acquiring an additional 1,071 shares in the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.

Cenovus Energy Stock Performance

NYSE:CVE opened at $16.08 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 0.25. Cenovus Energy Inc. has a 1-year low of $14.69 and a 1-year high of $21.90. The stock has a market cap of $29.42 billion, a P/E ratio of 8.65 and a beta of 2.04. The stock’s 50-day moving average is $17.32 and its 200-day moving average is $18.93.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.13). Cenovus Energy had a net margin of 8.56% and a return on equity of 16.61%. The business had revenue of $10.88 billion for the quarter, compared to analyst estimates of $9.78 billion. Equities research analysts anticipate that Cenovus Energy Inc. will post 1.84 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on CVE. BMO Capital Markets reduced their target price on shares of Cenovus Energy from $33.00 to $31.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. StockNews.com upgraded Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Monday. Scotiabank cut their price target on shares of Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Finally, TD Securities downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.75.

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.