Blue Trust Inc. Boosts Stock Position in Cenovus Energy Inc. (NYSE:CVE)

Blue Trust Inc. increased its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 122.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,809 shares of the oil and gas company’s stock after buying an additional 3,744 shares during the period. Blue Trust Inc.’s holdings in Cenovus Energy were worth $114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in CVE. Truvestments Capital LLC acquired a new position in Cenovus Energy during the third quarter worth $25,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Cenovus Energy by 8.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company’s stock worth $170,000 after purchasing an additional 643 shares in the last quarter. SevenBridge Financial Group LLC purchased a new stake in shares of Cenovus Energy during the third quarter worth approximately $162,000. Empirical Asset Management LLC acquired a new position in Cenovus Energy in the 4th quarter valued at $174,000. Finally, FCG Investment Co purchased a new position in Cenovus Energy in the 3rd quarter valued at $211,000. Institutional investors and hedge funds own 51.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CVE shares. BMO Capital Markets dropped their price objective on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $28.00 price target on shares of Cenovus Energy in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Cenovus Energy currently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Cenovus Energy Price Performance

Shares of CVE opened at $14.74 on Friday. The firm has a 50-day simple moving average of $15.03 and a two-hundred day simple moving average of $16.61. 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 Inc. has a 1-year low of $13.76 and a 1-year high of $21.90. The stock has a market cap of $26.89 billion, a PE ratio of 10.16 and a beta of 1.99.

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.