APG Asset Management N.V. lowered its holdings in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 5.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,052,600 shares of the oil and gas company’s stock after selling 61,600 shares during the quarter. APG Asset Management N.V. owned approximately 0.09% of Cenovus Energy worth $2,100,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Sunbelt Securities Inc. purchased a new stake in Cenovus Energy in the fourth quarter worth $4,110,000. Marshall Wace LLP bought a new stake in shares of Cenovus Energy during the 1st quarter valued at about $25,000. Key Financial Inc bought a new stake in shares of Cenovus Energy during the 4th quarter valued at about $106,000. XTX Markets LLC purchased a new position in shares of Cenovus Energy during the first quarter valued at about $39,000. Finally, Blueshift Asset Management LLC purchased a new stake in Cenovus Energy in the fourth quarter worth about $279,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.
CVE has been the topic of several research reports. Zacks Investment Research lowered Cenovus Energy from a “hold” rating to a “sell” rating and set a $4.00 price target on the stock. in a research report on Monday, May 11th. UBS Group lifted their price target on shares of Cenovus Energy from $2.70 to $6.00 and gave the company a “neutral” rating in a research report on Monday. Scotiabank downgraded shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating and set a $6.50 target price for the company. in a research note on Thursday, June 11th. Stifel Firstegy downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 19th. Finally, Stifel Nicolaus cut Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. Cenovus Energy presently has a consensus rating of “Hold” and a consensus target price of $9.33.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported ($0.72) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.53). Cenovus Energy had a net margin of 1.48% and a negative return on equity of 4.25%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.23 billion. As a group, research analysts anticipate that Cenovus Energy Inc will post -1.54 EPS for the current year.
Cenovus Energy 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.
Featured Story: How does a security become overbought?
Want to see what other hedge funds are holding CVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cenovus Energy Inc (NYSE:CVE) (TSE:CVE).
Receive News & Ratings for Cenovus Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy and related companies with MarketBeat.com's FREE daily email newsletter.