Two Sigma Investments LP Grows Position in Cenovus Energy Inc. (NYSE:CVE)

Two Sigma Investments LP raised its position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 122.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,957,007 shares of the oil and gas company's stock after purchasing an additional 1,079,098 shares during the quarter. Two Sigma Investments LP owned about 0.11% of Cenovus Energy worth $29,649,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Alliancebernstein L.P. lifted its position in Cenovus Energy by 0.7% in 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 buying an additional 779 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Cenovus Energy by 104.9% in the 4th 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 during the period. Montgomery Investment Management Inc. lifted its holdings in shares of Cenovus Energy by 1.6% in the 4th quarter. Montgomery Investment Management Inc. now owns 56,535 shares of the oil and gas company's stock worth $857,000 after acquiring an additional 894 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in shares of Cenovus Energy by 4.5% in the 4th quarter. Guggenheim Capital LLC now owns 20,974 shares of the oil and gas company's stock worth $318,000 after acquiring an additional 908 shares during the last quarter. Finally, Banco Santander S.A. boosted its position in shares of Cenovus Energy by 5.6% during the 4th quarter. Banco Santander S.A. now owns 30,967 shares of the oil and gas company's stock worth $469,000 after purchasing an additional 1,641 shares during the period. Hedge funds and other institutional investors own 51.19% of the company's stock.

Cenovus Energy Stock Up 2.4%

CVE stock traded up $0.32 during mid-day trading on Monday, reaching $13.64. The company had a trading volume of 12,808,175 shares, compared to its average volume of 9,155,650. The firm has a fifty day simple moving average of $12.68 and a 200 day simple moving average of $14.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. The company 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.

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, beating 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 firm had revenue of $11.15 billion for the quarter, compared to analysts' expectations of $12.39 billion. During the same quarter last year, the company earned $0.62 earnings per share. Analysts forecast that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Veritas cut Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. National Bank Financial downgraded Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research report on Friday, February 21st. National Bankshares reiterated a "sector perform" rating on shares of Cenovus Energy in a research note on Friday, April 25th. Finally, Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a research note on Wednesday, March 19th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $25.75.

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.