Tidal Investments LLC Boosts Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

Tidal Investments LLC boosted its stake in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 187.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,422 shares of the oil and gas company's stock after acquiring an additional 47,246 shares during the period. Tidal Investments LLC's holdings in Cenovus Energy were worth $1,097,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Toronto Dominion Bank lifted its position in shares of Cenovus Energy by 91.7% in the 4th quarter. Toronto Dominion Bank now owns 7,233,491 shares of the oil and gas company's stock worth $109,515,000 after purchasing an additional 3,460,311 shares during the period. SIR Capital Management L.P. lifted its holdings in Cenovus Energy by 809.0% in the fourth quarter. SIR Capital Management L.P. now owns 960,300 shares of the oil and gas company's stock valued at $14,549,000 after buying an additional 854,658 shares during the period. Recurrent Investment Advisors LLC lifted its holdings in Cenovus Energy by 12.9% in the fourth quarter. Recurrent Investment Advisors LLC now owns 4,629,912 shares of the oil and gas company's stock valued at $72,889,000 after buying an additional 529,700 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Cenovus Energy during the fourth quarter valued at $447,000. Finally, Polar Asset Management Partners Inc. boosted its position in Cenovus Energy by 79.8% during the fourth quarter. Polar Asset Management Partners Inc. now owns 125,637 shares of the oil and gas company's stock valued at $1,903,000 after acquiring an additional 55,780 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CVE. The Goldman Sachs Group dropped their price objective 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. Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. Royal Bank of Canada reiterated an "outperform" rating and set a $25.00 target price on shares of Cenovus Energy in a research report on Friday, April 11th. Finally, National Bankshares reissued a "sector perform" rating on shares of Cenovus Energy in a research note on Friday, April 25th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $25.75.

Cenovus Energy Stock Down 1.5%

CVE traded down $0.20 during trading on Friday, hitting $13.35. 2,612,288 shares of the company's stock were exchanged, compared to its average volume of 9,168,054. Cenovus Energy Inc. has a fifty-two week low of $10.23 and a fifty-two week high of $21.08. The stock has a market cap of $24.33 billion, a P/E ratio of 11.06 and a beta of 0.95. The business's 50 day moving average is $12.64 and its two-hundred day moving average is $14.06. 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 posted its earnings results on Thursday, May 8th. The oil and gas company reported $0.32 EPS 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 company had revenue of $11.15 billion during the quarter, compared to the consensus estimate of $12.39 billion. During the same period in the previous year, the firm posted $0.62 earnings per share. As a group, equities analysts expect 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.