CIBC Asset Management Inc Sells 2,350,303 Shares of Cenovus Energy Inc. (NYSE:CVE)

CIBC Asset Management Inc lessened its holdings in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 25.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,951,767 shares of the oil and gas company's stock after selling 2,350,303 shares during the quarter. CIBC Asset Management Inc owned about 0.38% of Cenovus Energy worth $105,243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Smead Capital Management Inc. raised its stake in Cenovus Energy by 39.3% during the 3rd quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company's stock valued at $257,831,000 after purchasing an additional 4,351,960 shares during the period. Geode Capital Management LLC raised its stake in Cenovus Energy by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 6,413,919 shares of the oil and gas company's stock valued at $109,232,000 after purchasing an additional 568,732 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Cenovus Energy by 23.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,980,853 shares of the oil and gas company's stock valued at $83,330,000 after purchasing an additional 952,477 shares during the period. Swiss National Bank grew its holdings in Cenovus Energy by 0.4% during the 3rd quarter. Swiss National Bank now owns 4,211,235 shares of the oil and gas company's stock valued at $70,546,000 after buying an additional 17,900 shares in the last quarter. Finally, Recurrent Investment Advisors LLC grew its holdings in Cenovus Energy by 11.6% during the 3rd quarter. Recurrent Investment Advisors LLC now owns 4,100,212 shares of the oil and gas company's stock valued at $69,764,000 after buying an additional 426,002 shares in the last quarter. Institutional investors own 51.19% of the company's stock.

Cenovus Energy Trading Down 2.1 %

Shares of Cenovus Energy stock traded down $0.32 on Thursday, reaching $15.31. The company had a trading volume of 12,461,613 shares, compared to its average volume of 10,701,431. The firm has a market cap of $27.92 billion, a price-to-earnings ratio of 10.56 and a beta of 1.99. 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's 50-day moving average price is $15.00 and its two-hundred day moving average price is $16.32. Cenovus Energy Inc. has a 1 year low of $13.76 and a 1 year high of $21.90.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its quarterly earnings data on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.27). Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. As a group, research analysts predict that Cenovus Energy Inc. will post 1.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CVE shares. Royal Bank of Canada restated an "outperform" rating and set a $28.00 price target on shares of Cenovus Energy in a report on Monday, January 6th. BMO Capital Markets cut their price target on 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 Cenovus Energy from a "buy" rating to a "hold" rating in a report on Saturday, December 28th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from 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.