UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 126,300 Shares of Cenovus Energy Inc. (NYSE:CVE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 15.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 703,347 shares of the oil and gas company’s stock after selling 126,300 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Cenovus Energy were worth $10,656,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Capital World Investors lifted its position in Cenovus Energy by 15.8% in the 4th quarter. Capital World Investors now owns 191,412,590 shares of the oil and gas company’s stock valued at $2,901,131,000 after acquiring an additional 26,127,617 shares in the last quarter. Capital International Investors lifted its position in Cenovus Energy by 0.7% in the 4th quarter. Capital International Investors now owns 53,572,829 shares of the oil and gas company’s stock valued at $811,769,000 after acquiring an additional 382,519 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Cenovus Energy by 48.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 13,001,002 shares of the oil and gas company’s stock valued at $196,935,000 after acquiring an additional 4,220,663 shares in the last quarter. Geode Capital Management LLC lifted its position in Cenovus Energy by 29.2% in the 4th quarter. Geode Capital Management LLC now owns 8,287,334 shares of the oil and gas company’s stock valued at $128,783,000 after acquiring an additional 1,873,415 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Cenovus Energy by 3.6% in the 4th quarter. Invesco Ltd. now owns 8,043,884 shares of the oil and gas company’s stock valued at $121,865,000 after acquiring an additional 276,023 shares in the last quarter. 51.19% of the stock is owned by institutional investors.

Cenovus Energy Price Performance

NYSE CVE opened at $13.18 on Friday. 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 stock has a market capitalization of $24.02 billion, a price-to-earnings ratio of 10.89 and a beta of 0.95. Cenovus Energy Inc. has a 1-year low of $10.23 and a 1-year high of $20.89. The business’s fifty day moving average price is $12.61 and its 200-day moving average price is $14.04.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, May 8th. The oil and gas company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. The firm had revenue of $11.15 billion during the quarter, compared to analyst estimates of $12.39 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. During the same period in the prior year, the business posted $0.62 EPS. On average, equities analysts predict that Cenovus Energy Inc. will post 1.49 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. National Bankshares reaffirmed a “sector perform” rating on shares of Cenovus Energy in a research report on Friday, April 25th. Morgan Stanley reissued an “overweight” rating on shares of Cenovus Energy in a report on Tuesday, April 15th. The Goldman Sachs Group lowered their price target on Cenovus Energy from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Veritas cut Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price target on shares of Cenovus Energy in a report on Friday, April 11th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cenovus Energy has a consensus rating of “Moderate Buy” and an average target price of $25.75.

About Cenovus Energy

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.