Cenovus Energy Inc $CVE Holdings Decreased by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd trimmed its holdings in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 49.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 269,809 shares of the oil and gas company’s stock after selling 261,124 shares during the period. Mediolanum International Funds Ltd’s holdings in Cenovus Energy were worth $4,661,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CVE. Canada Pension Plan Investment Board increased its holdings in shares of Cenovus Energy by 322.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 15,521,050 shares of the oil and gas company’s stock valued at $211,338,000 after purchasing an additional 11,849,355 shares during the period. CIBC Asset Management Inc increased its stake in Cenovus Energy by 494.2% in the 3rd quarter. CIBC Asset Management Inc now owns 11,442,043 shares of the oil and gas company’s stock valued at $194,493,000 after buying an additional 9,516,460 shares during the period. Picton Mahoney Asset Management purchased a new stake in Cenovus Energy in the 2nd quarter worth approximately $74,895,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Cenovus Energy by 37.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 14,428,074 shares of the oil and gas company’s stock valued at $245,133,000 after buying an additional 3,945,324 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Cenovus Energy during the 3rd quarter valued at $57,928,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CVE shares. Raymond James Financial upgraded Cenovus Energy from an “outperform” rating to a “strong-buy” rating in a report on Thursday, October 9th. Royal Bank Of Canada raised their price target on Cenovus Energy from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Zacks Research cut Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 22nd. Scotiabank downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $22.00 target price on shares of Cenovus Energy in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

Cenovus Energy Stock Performance

Shares of NYSE CVE opened at $19.45 on Tuesday. The business’s 50-day simple moving average is $17.66 and its 200-day simple moving average is $16.93. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.18 and a current ratio of 1.73. Cenovus Energy Inc has a 52 week low of $10.23 and a 52 week high of $20.72. The firm has a market cap of $36.62 billion, a price-to-earnings ratio of 15.94 and a beta of 0.49.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Friday, October 31st. The oil and gas company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.12. Cenovus Energy had a return on equity of 10.73% and a net margin of 6.23%.The firm had revenue of $10.87 billion during the quarter, compared to analyst estimates of $12.51 billion. During the same period in the previous year, the company earned $0.42 EPS. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. As a group, equities research analysts expect that Cenovus Energy Inc will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.