Voloridge Investment Management LLC Grows Holdings in Cenovus Energy Inc. (NYSE:CVE)

Voloridge Investment Management LLC raised its position in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 16.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,532,608 shares of the oil and gas company's stock after purchasing an additional 221,505 shares during the quarter. Voloridge Investment Management LLC owned 0.08% of Cenovus Energy worth $23,219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alliancebernstein L.P. grew its holdings in shares of Cenovus Energy by 0.7% during the fourth quarter. Alliancebernstein L.P. now owns 106,532 shares of the oil and gas company's stock valued at $1,614,000 after buying an additional 779 shares during the last quarter. Farther Finance Advisors LLC lifted its position 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 acquiring an additional 851 shares in the last quarter. Montgomery Investment Management Inc. boosted its stake in Cenovus Energy by 1.6% during the 4th quarter. Montgomery Investment Management Inc. now owns 56,535 shares of the oil and gas company's stock valued at $857,000 after purchasing an additional 894 shares during the last quarter. Guggenheim Capital LLC boosted its stake in Cenovus Energy by 4.5% during the 4th quarter. Guggenheim Capital LLC now owns 20,974 shares of the oil and gas company's stock valued at $318,000 after purchasing an additional 908 shares during the last quarter. Finally, Banco Santander S.A. increased its holdings in shares of Cenovus Energy by 5.6% in the 4th quarter. Banco Santander S.A. now owns 30,967 shares of the oil and gas company's stock worth $469,000 after purchasing an additional 1,641 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors.

Cenovus Energy Stock Performance

Shares of NYSE:CVE traded down $0.09 during trading on Tuesday, hitting $13.55. The company's stock had a trading volume of 6,320,935 shares, compared to its average volume of 11,503,056. 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 has a market cap of $24.69 billion, a price-to-earnings ratio of 11.19 and a beta of 0.95. The company has a 50-day moving average of $12.68 and a 200-day moving average of $14.09. Cenovus Energy Inc. has a 12 month low of $10.23 and a 12 month high of $21.08.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.03. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The business had revenue of $11.15 billion for the quarter, compared to the consensus estimate of $12.39 billion. During the same period last year, the firm earned $0.62 earnings per share. On average, sell-side analysts expect that Cenovus Energy Inc. will post 1.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. National Bankshares reaffirmed a "sector perform" rating on shares of Cenovus Energy in a report on Friday, April 25th. National Bank Financial cut shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. Veritas lowered shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, The Goldman Sachs Group lowered their price objective on shares of Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $25.75.

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.