Wellington Management Group LLP Sells 713,278 Shares of Cenovus Energy Inc (NYSE:CVE)

Wellington Management Group LLP trimmed its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 83.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 141,826 shares of the oil and gas company’s stock after selling 713,278 shares during the period. Wellington Management Group LLP’s holdings in Cenovus Energy were worth $284,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CVE. Marshall Wace LLP bought a new position in shares of Cenovus Energy during the first quarter valued at about $25,000. XTX Markets LLC bought a new position in shares of Cenovus Energy during the first quarter valued at about $39,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Cenovus Energy by 93.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 28,559 shares of the oil and gas company’s stock valued at $58,000 after acquiring an additional 13,801 shares during the last quarter. Signaturefd LLC raised its stake in shares of Cenovus Energy by 756.2% during the first quarter. Signaturefd LLC now owns 32,733 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 28,910 shares during the last quarter. Finally, ARP Americas LP bought a new position in shares of Cenovus Energy during the first quarter valued at about $71,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Shares of CVE opened at $4.68 on Wednesday. The stock has a market cap of $5.47 billion, a PE ratio of 26.00 and a beta of 2.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.43 and a current ratio of 0.71. Cenovus Energy Inc has a fifty-two week low of $1.41 and a fifty-two week high of $10.82. The firm’s 50-day simple moving average is $4.45 and its two-hundred day simple moving average is $5.97.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported ($0.72) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.53). The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Cenovus Energy had a negative return on equity of 4.25% and a net margin of 1.48%. Equities research analysts predict that Cenovus Energy Inc will post -1.54 EPS for the current year.

Several equities analysts have recently commented on CVE shares. ValuEngine raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Friday, May 1st. Scotiabank cut shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating and set a $6.50 price target on the stock. in a research report on Thursday, June 11th. Stifel Nicolaus cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 12th. Zacks Investment Research cut shares of 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of Cenovus Energy from $12.00 to $5.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $9.33.

About Cenovus Energy

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.

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Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

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