Cenovus Energy Inc. (NYSE:CVE) Position Trimmed by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 46.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,982,343 shares of the oil and gas company's stock after selling 5,131,906 shares during the period. Wellington Management Group LLP owned 0.33% of Cenovus Energy worth $90,637,000 as of its most recent SEC filing.

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

Cenovus Energy Stock Down 2.7%

Shares of NYSE:CVE traded down $0.37 during trading hours on Friday, reaching $13.18. The stock had a trading volume of 10,733,240 shares, compared to its average volume of 9,208,494. The stock has a market capitalization of $24.02 billion, a price-to-earnings ratio of 10.89 and a beta of 0.95. Cenovus Energy Inc. has a 1 year low of $10.23 and a 1 year high of $20.89. 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 firm's 50 day moving average is $12.61 and its 200-day moving average is $14.04.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.03. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. The firm had revenue of $11.15 billion during the quarter, compared to the consensus estimate of $12.39 billion. During the same period last year, the company earned $0.62 earnings per share. Research analysts predict that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CVE shares. National Bank Financial lowered shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research report on Friday, February 21st. Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a research report on Tuesday, April 15th. National Bankshares restated a "sector perform" rating on shares of Cenovus Energy in a report on Friday, April 25th. The Goldman Sachs Group lowered their price target on shares of Cenovus Energy from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $25.00 target price on shares of Cenovus Energy in a research note on Friday, April 11th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cenovus Energy currently has an average rating of "Moderate Buy" and an average target price of $25.75.

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.