Cambiar Investors LLC Sells 615,363 Shares of Cenovus Energy Inc. (NYSE:CVE)

Cambiar Investors LLC reduced its holdings in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 20.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,453,792 shares of the oil and gas company's stock after selling 615,363 shares during the quarter. Cambiar Investors LLC owned approximately 0.13% of Cenovus Energy worth $37,175,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CVE. Smead Capital Management Inc. lifted its holdings 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 last quarter. Bridgewater Associates LP acquired a new stake in shares of Cenovus Energy during the third quarter worth $33,995,000. Anson Funds Management LP raised its stake in Cenovus Energy by 188.2% in the third quarter. Anson Funds Management LP now owns 1,877,800 shares of the oil and gas company's stock valued at $31,405,000 after purchasing an additional 1,226,221 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Cenovus Energy by 23.6% in the third 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 in the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. raised its stake in Cenovus Energy by 33.3% in the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,163,034 shares of the oil and gas company's stock valued at $52,896,000 after purchasing an additional 789,569 shares in the last quarter. 51.19% of the stock is owned by institutional investors.

Cenovus Energy Trading Down 0.4 %

CVE traded down $0.07 during trading on Friday, hitting $15.31. The company's stock had a trading volume of 7,263,320 shares, compared to its average volume of 10,607,654. Cenovus Energy Inc. has a twelve month low of $13.76 and a twelve month high of $21.90. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The stock's fifty day moving average price is $14.98 and its 200-day moving average price is $16.42. The firm has a market capitalization of $27.93 billion, a P/E ratio of 10.56 and a beta of 1.99.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CVE shares. BMO Capital Markets decreased their target price on Cenovus Energy from $31.00 to $28.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. StockNews.com lowered Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $28.00 price objective on shares of Cenovus Energy in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently 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.