PKO Investment Management Joint Stock Co Purchases New Stake in Cenovus Energy Inc. (NYSE:CVE)

PKO Investment Management Joint Stock Co purchased a new stake in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 55,500 shares of the oil and gas company's stock, valued at approximately $842,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CVE. Public Employees Retirement System of Ohio grew its stake in Cenovus Energy by 0.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 241,113 shares of the oil and gas company's stock valued at $3,653,000 after acquiring an additional 762 shares in the last quarter. Alliancebernstein L.P. grew its stake in 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 acquiring an additional 779 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Cenovus Energy by 104.9% during 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. Montgomery Investment Management Inc. grew its stake in Cenovus Energy by 1.6% during the fourth quarter. Montgomery Investment Management Inc. now owns 56,535 shares of the oil and gas company's stock valued at $857,000 after acquiring an additional 894 shares in the last quarter. Finally, Guggenheim Capital LLC grew its stake in Cenovus Energy by 4.5% during the fourth quarter. Guggenheim Capital LLC now owns 20,974 shares of the oil and gas company's stock valued at $318,000 after acquiring an additional 908 shares in the last quarter. Institutional investors own 51.19% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CVE. Morgan Stanley reaffirmed an "overweight" rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. The Goldman Sachs Group cut their price target on shares of Cenovus Energy from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Royal Bank of Canada reissued an "outperform" rating and issued a $25.00 price target on shares of Cenovus Energy in a research note on Friday, April 11th. Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, Veritas cut shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Five equities 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.75.

Cenovus Energy Trading Up 1.5%

Shares of CVE traded up $0.20 during mid-day trading on Monday, reaching $13.38. The company's stock had a trading volume of 10,891,281 shares, compared to its average volume of 9,224,275. The stock has a market cap of $24.38 billion, a PE ratio of 11.05 and a beta of 0.95. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. Cenovus Energy Inc. has a 52 week low of $10.23 and a 52 week high of $20.89. The company's fifty day moving average price is $12.60 and its two-hundred day moving average price is $14.00.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings data 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 firm had revenue of $11.15 billion during the quarter, compared to analyst estimates 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 previous year, the business posted $0.62 EPS. On average, analysts predict that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

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.