Cetera Investment Advisers Grows Stake in Cenovus Energy Inc. (NYSE:CVE)

Cetera Investment Advisers boosted its stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,096 shares of the oil and gas company’s stock after acquiring an additional 3,676 shares during the period. Cetera Investment Advisers’ holdings in Cenovus Energy were worth $698,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC purchased a new stake in Cenovus Energy during the 4th quarter valued at approximately $682,000. Blue Trust Inc. raised its holdings in shares of Cenovus Energy by 122.2% in the fourth quarter. Blue Trust Inc. now owns 6,809 shares of the oil and gas company’s stock worth $114,000 after acquiring an additional 3,744 shares during the last quarter. Mediolanum International Funds Ltd boosted its stake in shares of Cenovus Energy by 43.1% during the 4th quarter. Mediolanum International Funds Ltd now owns 120,257 shares of the oil and gas company’s stock worth $1,776,000 after purchasing an additional 36,233 shares during the last quarter. Montgomery Investment Management Inc. boosted its holdings in shares of Cenovus Energy by 1.6% during the fourth quarter. Montgomery Investment Management Inc. now owns 56,535 shares of the oil and gas company’s stock worth $857,000 after purchasing an additional 894 shares during the last quarter. Finally, AustralianSuper Pty Ltd purchased a new position in shares of Cenovus Energy during the 4th quarter worth about $7,123,000. 51.19% of the stock is owned by institutional investors and hedge funds.

Cenovus Energy Stock Up 2.4%

Shares of Cenovus Energy stock opened at $13.64 on Monday. The stock’s fifty day moving average is $12.68 and its 200-day moving average is $14.10. The firm has a market capitalization of $24.86 billion, a PE ratio of 11.27 and a beta of 0.95. Cenovus Energy Inc. has a 12-month low of $10.23 and a 12-month high of $21.08. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings results on Thursday, May 8th. The oil and gas company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The business had revenue of $11.15 billion during the quarter, compared to analysts’ expectations of $12.39 billion. During the same period last year, the company posted $0.62 earnings per share. Equities analysts anticipate that Cenovus Energy Inc. will post 1.49 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently commented on CVE shares. Scotiabank upgraded shares of Cenovus Energy to a “strong-buy” rating in a report on Wednesday, March 19th. National Bankshares reiterated a “sector perform” rating on shares of Cenovus Energy in a research report on Friday, April 25th. Morgan Stanley reissued an “overweight” rating on shares of Cenovus Energy in a report on Tuesday, April 15th. The Goldman Sachs Group dropped their price objective on shares of Cenovus Energy from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Finally, National Bank Financial cut shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 21st. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.75.

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.