AustralianSuper Pty Ltd Takes Position in Cenovus Energy Inc. (NYSE:CVE)

AustralianSuper Pty Ltd bought a new position in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 470,477 shares of the oil and gas company's stock, valued at approximately $7,123,000.

A number of other large investors also recently modified their holdings of the stock. Montgomery Investment Management Inc. lifted its position in shares of Cenovus Energy by 1.6% during the fourth quarter. Montgomery Investment Management Inc. now owns 56,535 shares of the oil and gas company's stock worth $857,000 after purchasing an additional 894 shares in the last quarter. Mediolanum International Funds Ltd lifted its position in shares of Cenovus Energy by 43.1% during the fourth quarter. Mediolanum International Funds Ltd now owns 120,257 shares of the oil and gas company's stock worth $1,776,000 after purchasing an additional 36,233 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Cenovus Energy by 122.2% during the fourth quarter. Blue Trust Inc. now owns 6,809 shares of the oil and gas company's stock worth $114,000 after purchasing an additional 3,744 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of Cenovus Energy by 30.3% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 344,000 shares of the oil and gas company's stock worth $5,212,000 after purchasing an additional 80,000 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Cenovus Energy during the fourth quarter worth approximately $682,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Stock Up 1.3 %

NYSE:CVE traded up $0.20 on Wednesday, hitting $15.66. 11,317,513 shares of the company's stock were exchanged, compared to its average volume of 10,622,087. The firm has a 50-day moving average price of $14.99 and a 200-day moving average price of $16.33. 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 52 week low of $13.76 and a 52 week high of $21.90. The company has a market cap of $28.55 billion, a P/E ratio of 10.80 and a beta of 1.99.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVE. Royal Bank of Canada reissued an "outperform" rating and set a $28.00 price target on shares of Cenovus Energy in a research note on Monday, January 6th. BMO Capital Markets reduced their price target on shares of Cenovus Energy from $31.00 to $28.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Finally, StockNews.com cut shares of Cenovus Energy from a "buy" rating to a "hold" rating in a report on Saturday, December 28th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Cenovus Energy has a consensus rating of "Moderate Buy" and a consensus price target of $30.00.

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.