Blue Trust Inc. Buys 3,744 Shares of Cenovus Energy Inc. (NYSE:CVE)

Blue Trust Inc. raised its stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 122.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,809 shares of the oil and gas company’s stock after acquiring an additional 3,744 shares during the period. Blue Trust Inc.’s holdings in Cenovus Energy were worth $114,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CVE. Truvestments Capital LLC purchased a new stake in Cenovus Energy during the third quarter valued at $25,000. Northwestern Mutual Wealth Management Co. increased its position in Cenovus Energy by 8.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company’s stock valued at $170,000 after acquiring an additional 643 shares during the last quarter. SevenBridge Financial Group LLC purchased a new stake in shares of Cenovus Energy in the third quarter valued at $162,000. Empirical Asset Management LLC purchased a new position in shares of Cenovus Energy during the 4th quarter worth about $174,000. Finally, FCG Investment Co bought a new position in Cenovus Energy during the 3rd quarter valued at about $211,000. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Trading Down 2.2 %

Cenovus Energy stock opened at $14.74 on Friday. The firm has a market cap of $26.89 billion, a PE ratio of 10.16 and a beta of 1.99. Cenovus Energy Inc. has a 12 month low of $13.76 and a 12 month high of $21.90. The stock’s 50 day simple moving average is $15.03 and its two-hundred day simple moving average is $16.61. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CVE shares. BMO Capital Markets reduced their target price on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Royal Bank of Canada restated an “outperform” rating and issued a $28.00 target price on shares of Cenovus Energy in a research note on Monday, January 6th. Finally, StockNews.com downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $30.00.

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.