Cenovus Energy Inc. (NYSE:CVE) Shares Sold by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. reduced its holdings in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 52.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,136 shares of the oil and gas company's stock after selling 24,654 shares during the quarter. MidWestOne Financial Group Inc.'s holdings in Cenovus Energy were worth $335,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CVE. Farther Finance Advisors LLC boosted its stake in shares of Cenovus Energy by 104.9% in the fourth quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 851 shares during the period. Sierra Ocean LLC purchased a new position in shares of Cenovus Energy in the fourth quarter valued at $67,000. Blue Trust Inc. boosted its stake in shares of Cenovus Energy by 54.7% in the fourth quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company's stock valued at $72,000 after purchasing an additional 1,677 shares during the period. Natixis purchased a new position in shares of Cenovus Energy in the fourth quarter valued at $98,000. Finally, Black Maple Capital Management LP purchased a new position in shares of Cenovus Energy in the fourth quarter valued at $167,000. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Scotiabank upgraded shares of Cenovus Energy to a "strong-buy" rating in a research note on Wednesday, March 19th. National Bankshares reiterated a "sector perform" rating on shares of Cenovus Energy in a research note on Friday, April 25th. Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. Royal Bank of Canada reiterated an "outperform" rating and set a $25.00 price objective on shares of Cenovus Energy in a research note on Friday, April 11th. Finally, 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. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $25.75.

Cenovus Energy Stock Performance

Shares of NYSE:CVE traded up $0.32 on Friday, reaching $13.64. 12,808,175 shares of the company's stock were exchanged, compared to its average volume of 9,155,650. The firm has a market capitalization of $24.86 billion, a price-to-earnings ratio of 11.27 and a beta of 0.95. Cenovus Energy Inc. has a fifty-two week low of $10.23 and a fifty-two week high of $21.08. The business's 50-day moving average is $12.68 and its two-hundred day moving average is $14.12. 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 (NYSE:CVE - Get Free Report) TSE: CVE last issued its earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. The company had revenue of $11.15 billion for the quarter, compared to analysts' expectations of $12.39 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. During the same period in the prior year, the company earned $0.62 earnings per share. As a group, equities research analysts forecast that Cenovus Energy Inc. will post 1.49 EPS 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.