Ameriprise Financial Inc. Has $1.40 Million Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

Ameriprise Financial Inc. boosted its holdings in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 37.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 92,386 shares of the oil and gas company's stock after acquiring an additional 25,377 shares during the period. Ameriprise Financial Inc.'s holdings in Cenovus Energy were worth $1,400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CVE. Farther Finance Advisors LLC grew its holdings in Cenovus Energy by 104.9% in the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company's stock valued at $25,000 after buying an additional 851 shares in the last quarter. Sierra Ocean LLC bought a new position in Cenovus Energy in the fourth quarter valued at approximately $67,000. Blue Trust Inc. raised its holdings in shares of Cenovus Energy by 54.7% during the 4th quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company's stock worth $72,000 after buying an additional 1,677 shares in the last quarter. Natixis bought a new position in shares of Cenovus Energy in the fourth quarter worth about $98,000. Finally, CIBC Private Wealth Group LLC lifted its stake in Cenovus Energy by 177.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 11,991 shares of the oil and gas company's stock valued at $184,000 after purchasing an additional 7,669 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CVE shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $25.00 target price on shares of Cenovus Energy in a report on Friday, April 11th. National Bankshares restated a "sector perform" rating on shares of Cenovus Energy in a report on Friday, April 25th. Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a report on Tuesday, April 15th. Scotiabank upgraded shares of Cenovus Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, National Bank Financial cut shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research report on Friday, February 21st. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.75.

Cenovus Energy Trading Down 4.2%

Shares of Cenovus Energy stock traded down $0.57 during midday trading on Wednesday, reaching $13.00. The company had a trading volume of 17,516,117 shares, compared to its average volume of 9,288,119. The stock has a fifty day moving average price of $12.57 and a 200 day moving average price of $13.99. Cenovus Energy Inc. has a fifty-two week low of $10.23 and a fifty-two week high of $20.76. The firm has a market cap of $23.69 billion, a PE ratio of 10.74 and a beta of 0.94. 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 (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The firm had revenue of $11.15 billion for the quarter, compared to the consensus estimate of $12.39 billion. During the same quarter in the previous year, the company earned $0.62 EPS. On average, equities analysts anticipate that Cenovus Energy Inc. will post 1.49 earnings per share for the current year.

Cenovus Energy Company 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.