Cenovus Energy Inc. (NYSE:CVE) Shares Acquired by Voloridge Investment Management LLC

Voloridge Investment Management LLC boosted its stake in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 16.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,532,608 shares of the oil and gas company's stock after acquiring an additional 221,505 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.08% of Cenovus Energy worth $23,219,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Alliancebernstein L.P. raised its holdings in Cenovus Energy by 0.7% during the 4th quarter. Alliancebernstein L.P. now owns 106,532 shares of the oil and gas company's stock worth $1,614,000 after buying an additional 779 shares during the period. Farther Finance Advisors LLC raised its holdings in Cenovus Energy by 104.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company's stock worth $25,000 after buying an additional 851 shares during the period. Montgomery Investment Management Inc. raised its holdings 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 worth $857,000 after buying an additional 894 shares during the period. Guggenheim Capital LLC grew its stake in shares of Cenovus Energy by 4.5% in the fourth quarter. Guggenheim Capital LLC now owns 20,974 shares of the oil and gas company's stock valued at $318,000 after buying an additional 908 shares in the last quarter. Finally, Banco Santander S.A. grew its stake in shares of Cenovus Energy by 5.6% in the fourth quarter. Banco Santander S.A. now owns 30,967 shares of the oil and gas company's stock valued at $469,000 after buying an additional 1,641 shares in the last quarter. Institutional investors own 51.19% of the company's stock.

Cenovus Energy Trading Down 0.7%

Shares of CVE traded down $0.10 during mid-day trading on Wednesday, hitting $13.49. 2,119,568 shares of the company's stock traded hands, compared to its average volume of 9,137,405. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. Cenovus Energy Inc. has a 1 year low of $10.23 and a 1 year high of $21.08. The firm has a market capitalization of $24.58 billion, a P/E ratio of 11.14 and a beta of 0.95. The business's 50-day moving average price is $12.67 and its 200-day moving average price is $14.08.

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 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. The business had revenue of $11.15 billion during the quarter, compared to analysts' expectations of $12.39 billion. During the same quarter in the prior year, the business posted $0.62 earnings per share. As a group, sell-side analysts forecast that Cenovus Energy Inc. will post 1.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CVE. Veritas cut shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. 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. Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. Royal Bank of Canada reissued an "outperform" rating and issued a $25.00 target price on shares of Cenovus Energy in a research report on Friday, April 11th. Finally, The Goldman Sachs Group dropped their price target on Cenovus Energy from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Five equities 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.75.

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.