Van ECK Associates Corp Has $7.63 Million Stake in Cenovus Energy Inc. (NYSE:CVE)

Van ECK Associates Corp decreased its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 35.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 503,397 shares of the oil and gas company’s stock after selling 272,673 shares during the period. Van ECK Associates Corp’s holdings in Cenovus Energy were worth $7,626,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wahed Invest LLC lifted its holdings in Cenovus Energy by 5.6% in the third quarter. Wahed Invest LLC now owns 16,489 shares of the oil and gas company’s stock valued at $276,000 after buying an additional 875 shares during the period. Montgomery Investment Management Inc. lifted its holdings in Cenovus Energy by 1.6% in the fourth quarter. Montgomery Investment Management Inc. now owns 56,535 shares of the oil and gas company’s stock valued at $857,000 after buying an additional 894 shares during the period. Harmony Asset Management LLC lifted its holdings in Cenovus Energy by 8.1% in the third quarter. Harmony Asset Management LLC now owns 13,400 shares of the oil and gas company’s stock valued at $224,000 after buying an additional 1,000 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Cenovus Energy by 1.6% in the third quarter. PNC Financial Services Group Inc. now owns 76,940 shares of the oil and gas company’s stock valued at $1,287,000 after buying an additional 1,209 shares during the period. Finally, TD Private Client Wealth LLC increased its stake in Cenovus Energy by 3.2% in the third quarter. TD Private Client Wealth LLC now owns 40,194 shares of the oil and gas company’s stock valued at $672,000 after purchasing an additional 1,236 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Trading Down 0.4 %

NYSE:CVE opened at $15.31 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95. The firm has a 50-day moving average of $14.99 and a 200-day moving average of $16.35. The company has a market cap of $27.93 billion, a PE ratio of 10.56 and a beta of 1.99. Cenovus Energy Inc. has a one year low of $13.76 and a one year high of $21.90.

Wall Street Analyst Weigh In

Several research firms have weighed in on CVE. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $28.00 price target on shares of Cenovus Energy in a research note on Monday, January 6th. BMO Capital Markets decreased their price target 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. Finally, StockNews.com downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average 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.