Cenovus Energy Inc. (NYSE:CVE) Shares Sold by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC cut its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 389,495 shares of the oil and gas company’s stock after selling 48,620 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Cenovus Energy were worth $5,901,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smead Capital Management Inc. grew its position in Cenovus Energy by 39.3% in the 3rd quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company’s stock valued at $257,831,000 after acquiring an additional 4,351,960 shares in the last quarter. Bridgewater Associates LP purchased a new position in shares of Cenovus Energy in the third quarter valued at approximately $33,995,000. Anson Funds Management LP grew its holdings in shares of Cenovus Energy by 188.2% in the third quarter. Anson Funds Management LP now owns 1,877,800 shares of the oil and gas company’s stock valued at $31,405,000 after purchasing an additional 1,226,221 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Cenovus Energy by 23.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,980,853 shares of the oil and gas company’s stock worth $83,330,000 after buying an additional 952,477 shares in the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. boosted its position in Cenovus Energy by 33.3% in the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,163,034 shares of the oil and gas company’s stock valued at $52,896,000 after buying an additional 789,569 shares during the period. 51.19% of the stock is owned by hedge funds and other institutional investors.

Cenovus Energy Stock Down 2.9 %

Cenovus Energy stock opened at $14.47 on Monday. The stock’s fifty day moving average is $15.10 and its two-hundred day moving average is $16.71. The stock has a market cap of $26.40 billion, a PE ratio of 9.98 and a beta of 2.01. Cenovus Energy Inc. has a 1-year low of $14.20 and a 1-year high of $21.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.08. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $10.25 billion. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The firm’s revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share. On average, sell-side analysts expect that Cenovus Energy Inc. will post 1.36 EPS for the current fiscal year.

Analysts Set New Price Targets

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