Hennessy Advisors Inc. cut its stake in shares of Cenovus Energy Inc (NYSE:CVE – Free Report) (TSE:CVE) by 8.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 289,300 shares of the oil and gas company’s stock after selling 28,300 shares during the quarter. Hennessy Advisors Inc.’s holdings in Cenovus Energy were worth $8,991,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. Vise Technologies Inc. boosted its holdings in shares of Cenovus Energy by 5.0% during the 3rd quarter. Vise Technologies Inc. now owns 56,219 shares of the oil and gas company’s stock valued at $1,747,000 after acquiring an additional 2,676 shares in the last quarter. Cidel Asset Management Inc. raised its position in Cenovus Energy by 18.9% in the third quarter. Cidel Asset Management Inc. now owns 701,581 shares of the oil and gas company’s stock valued at $21,862,000 after purchasing an additional 111,753 shares during the last quarter. MGO One Seven LLC raised its position in Cenovus Energy by 3.7% in the third quarter. MGO One Seven LLC now owns 37,560 shares of the oil and gas company’s stock valued at $1,167,000 after purchasing an additional 1,330 shares during the last quarter. State of Wyoming raised its position in Cenovus Energy by 59.7% in the third quarter. State of Wyoming now owns 23,898 shares of the oil and gas company’s stock valued at $743,000 after purchasing an additional 8,933 shares during the last quarter. Finally, DecisionPoint Financial LLC acquired a new stake in shares of Cenovus Energy during the third quarter valued at about $95,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.
Cenovus Energy Stock Up 0.1%
Shares of NYSE:CVE opened at $32.76 on Monday. The firm has a market cap of $59.51 billion, a P/E ratio of 12.60 and a beta of 0.38. Cenovus Energy Inc has a 12-month low of $15.63 and a 12-month high of $34.16. The business has a fifty day simple moving average of $32.22 and a 200 day simple moving average of $27.39. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.25.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the company. Desjardins upgraded Cenovus Energy to a “moderate buy” rating in a report on Thursday, July 16th. UBS Group lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Wednesday, September 2nd. Wall Street Zen upgraded shares of Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research report on Sunday, October 11th. Jefferies Financial Group reiterated a “buy” rating on shares of Cenovus Energy in a research report on Sunday, October 18th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Cenovus Energy in a report on Wednesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $39.00.
Get Our Latest Analysis on Cenovus Energy
About Cenovus Energy
Cenovus Energy Inc (NYSE:CVE) is an integrated Canadian energy company engaged in the exploration, development, production, transportation, and marketing of crude oil and natural gas. Its upstream operations include oil sands projects in northern Alberta, as well as conventional oil and natural gas assets in Canada.
The company also operates oil sands upgraders, refineries, and related infrastructure. Through its downstream business, Cenovus produces and markets refined petroleum products, including gasoline, diesel, jet fuel, asphalt, and other products.
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