Cenovus Energy Inc (NYSE:CVE) Shares Sold by BlackRock Inc.

BlackRock Inc. trimmed its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 13.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 404,596 shares of the oil and gas company’s stock after selling 65,091 shares during the quarter. BlackRock Inc.’s holdings in Cenovus Energy were worth $3,569,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Marshall Wace LLP acquired a new position in Cenovus Energy in the 1st quarter valued at about $25,000. SeaBridge Investment Advisors LLC boosted its holdings in Cenovus Energy by 66.7% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 5,000 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 2,000 shares during the last quarter. Elkfork Partners LLC boosted its holdings in Cenovus Energy by 21.0% in the 2nd quarter. Elkfork Partners LLC now owns 7,480 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 1,298 shares during the last quarter. Meadow Creek Investment Management LLC boosted its holdings in Cenovus Energy by 21.0% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 9,520 shares of the oil and gas company’s stock valued at $81,000 after purchasing an additional 1,652 shares during the last quarter. Finally, Glen Harbor Capital Management LLC boosted its holdings in Cenovus Energy by 21.0% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 11,560 shares of the oil and gas company’s stock valued at $98,000 after purchasing an additional 2,006 shares during the last quarter. Institutional investors own 76.42% of the company’s stock.

Several equities analysts have weighed in on the stock. Goldman Sachs Group upgraded shares of Cenovus Energy from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Thursday, September 26th. Morgan Stanley lowered shares of Cenovus Energy from an “equal” rating to a “weight” rating in a report on Tuesday. UBS Group boosted their target price on shares of Cenovus Energy from $12.50 to $13.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Royal Bank of Canada decreased their target price on shares of Cenovus Energy from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Finally, Citigroup upgraded shares of Cenovus Energy from a “neutral” rating to a “buy” rating in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. Cenovus Energy has a consensus rating of “Buy” and a consensus target price of $13.93.

Cenovus Energy stock opened at $8.78 on Friday. The company’s 50 day simple moving average is $9.11 and its 200-day simple moving average is $8.98. The company has a market capitalization of $10.86 billion, a price-to-earnings ratio of -5.05, a price-to-earnings-growth ratio of 2.94 and a beta of 0.94. Cenovus Energy Inc has a 1 year low of $6.15 and a 1 year high of $10.82. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.54 and a current ratio of 1.02.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). The company had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $4.38 billion. Cenovus Energy had a net margin of 1.25% and a negative return on equity of 8.70%. During the same period last year, the firm posted ($0.24) earnings per share. Equities analysts expect that Cenovus Energy Inc will post 0.49 earnings per share for the current year.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.

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Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

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