Cenovus Energy Inc. (NYSE:CVE) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC reduced its position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,222,057 shares of the oil and gas company's stock after selling 43,369 shares during the quarter. Nuveen Asset Management LLC owned 0.07% of Cenovus Energy worth $18,515,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CVE. Farther Finance Advisors LLC raised its holdings 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 acquiring an additional 851 shares in the last quarter. Sierra Ocean LLC purchased a new position in Cenovus Energy in the fourth quarter valued at about $67,000. Blue Trust Inc. grew its stake in 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 last quarter. Natixis purchased a new position in Cenovus Energy in the fourth quarter valued at about $98,000. Finally, Black Maple Capital Management LP purchased a new position in Cenovus Energy in the fourth quarter valued at about $167,000. 51.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on CVE. National Bank Financial lowered Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. Scotiabank upgraded 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. The Goldman Sachs Group dropped their price target on Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $25.00 price target on shares of Cenovus Energy in a research note on Friday, April 11th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cenovus Energy presently has a consensus rating of "Moderate Buy" and an average target price of $25.75.

Cenovus Energy Stock Performance

NYSE CVE traded down $0.06 during trading hours on Tuesday, reaching $13.57. The stock had a trading volume of 11,238,616 shares, compared to its average volume of 9,163,982. The stock has a fifty day moving average of $12.68 and a 200 day moving average of $14.09. The stock has a market cap of $24.73 billion, a P/E ratio of 11.21 and a beta of 0.95. Cenovus Energy Inc. has a 52-week low of $10.23 and a 52-week high of $21.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59.

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 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.03. The firm had revenue of $11.15 billion for the quarter, compared to analyst estimates of $12.39 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. During the same quarter in the prior year, the firm earned $0.62 earnings per share. Sell-side analysts predict 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.