Janney Montgomery Scott LLC Takes $682,000 Position in Cenovus Energy Inc. (NYSE:CVE)

Janney Montgomery Scott LLC purchased a new stake in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 45,029 shares of the oil and gas company's stock, valued at approximately $682,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVE. Truvestments Capital LLC purchased a new position in Cenovus Energy during the third quarter worth about $25,000. Blue Trust Inc. lifted its holdings in Cenovus Energy by 640.3% during the third quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company's stock valued at $51,000 after purchasing an additional 2,651 shares during the last quarter. SevenBridge Financial Group LLC bought a new stake in Cenovus Energy during the 3rd quarter valued at $162,000. Northwestern Mutual Wealth Management Co. grew its stake in Cenovus Energy by 8.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company's stock valued at $170,000 after acquiring an additional 643 shares in the last quarter. Finally, Empirical Asset Management LLC purchased a new position in Cenovus Energy during the fourth quarter worth about $174,000. 51.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on CVE shares. BMO Capital Markets lowered their target price on shares of Cenovus Energy from $31.00 to $28.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. StockNews.com cut Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $28.00 target price on shares of Cenovus Energy in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.00.

Cenovus Energy Price Performance

CVE stock traded up $0.30 during midday trading on Tuesday, reaching $15.50. The stock had a trading volume of 7,637,690 shares, compared to its average volume of 10,976,025. 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 $28.28 billion, a price-to-earnings ratio of 10.69 and a beta of 1.99. The company's fifty day simple moving average is $14.99 and its 200 day simple moving average is $16.47. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24.

Cenovus Energy Profile

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.