BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $12.42 Million Holdings in Cenovus Energy Inc. (NYSE:CVE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 96.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 820,575 shares of the oil and gas company's stock after acquiring an additional 402,576 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Cenovus Energy were worth $12,423,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CVE. Toronto Dominion Bank raised its stake in shares of Cenovus Energy by 91.7% during the fourth quarter. Toronto Dominion Bank now owns 7,233,491 shares of the oil and gas company's stock valued at $109,515,000 after purchasing an additional 3,460,311 shares in the last quarter. Franklin Resources Inc. raised its holdings in Cenovus Energy by 105.0% during the fourth quarter. Franklin Resources Inc. now owns 4,337,551 shares of the oil and gas company's stock worth $65,667,000 after purchasing an additional 2,221,549 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Cenovus Energy by 4.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,226,155 shares of the oil and gas company's stock valued at $79,176,000 after purchasing an additional 245,302 shares in the last quarter. Polar Asset Management Partners Inc. raised its stake in shares of Cenovus Energy by 79.8% in the 4th quarter. Polar Asset Management Partners Inc. now owns 125,637 shares of the oil and gas company's stock worth $1,903,000 after buying an additional 55,780 shares in the last quarter. Finally, Amundi boosted its stake in Cenovus Energy by 1.7% during the fourth quarter. Amundi now owns 4,678,976 shares of the oil and gas company's stock valued at $71,775,000 after buying an additional 77,548 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVE. Royal Bank of Canada restated an "outperform" rating and issued a $25.00 target price on shares of Cenovus Energy in a report on Friday, April 11th. The Goldman Sachs Group cut their price target on shares of Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Morgan Stanley reaffirmed an "overweight" rating on shares of Cenovus Energy in a research report on Tuesday, April 15th. National Bank Financial downgraded shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. Finally, Scotiabank raised Cenovus Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. Five research 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 company's stock. Based on data from MarketBeat, Cenovus Energy currently has an average rating of "Moderate Buy" and an average target price of $25.75.

Cenovus Energy Stock Performance

CVE traded down $0.04 during trading on Wednesday, reaching $13.55. 3,136,675 shares of the company's stock were exchanged, compared to its average volume of 9,141,563. 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 business has a 50 day moving average price of $12.67 and a 200 day moving average price of $14.08. Cenovus Energy Inc. has a fifty-two week low of $10.23 and a fifty-two week high of $21.08. The company has a market capitalization of $24.69 billion, a P/E ratio of 11.19 and a beta of 0.95.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings data on Thursday, May 8th. The oil and gas company reported $0.32 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 analyst estimates of $12.39 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. As a group, analysts predict that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

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.