AustralianSuper Pty Ltd Acquires Shares of 470,477 Cenovus Energy Inc. (NYSE:CVE)

AustralianSuper Pty Ltd acquired a new stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 470,477 shares of the oil and gas company’s stock, valued at approximately $7,123,000.

Other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC bought a new stake in Cenovus Energy in the 3rd quarter valued at about $25,000. Blue Trust Inc. boosted its holdings in Cenovus Energy by 640.3% in the 3rd quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 2,651 shares during the period. SevenBridge Financial Group LLC bought a new stake in Cenovus Energy in the 3rd quarter valued at about $162,000. Empirical Asset Management LLC bought a new stake in shares of Cenovus Energy during the 4th quarter worth approximately $174,000. Finally, FCG Investment Co bought a new stake in shares of Cenovus Energy during the 3rd quarter worth approximately $211,000. Institutional investors own 51.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CVE shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $28.00 price target on shares of Cenovus Energy in a report on Monday, January 6th. StockNews.com downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. Finally, BMO Capital Markets cut their price target on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Cenovus Energy Price Performance

CVE stock opened at $15.31 on Friday. The company has a 50 day simple moving average of $14.98 and a 200 day simple moving average of $16.40. The stock has a market cap of $27.93 billion, a price-to-earnings ratio of 10.56 and a beta of 1.99. Cenovus Energy Inc. has a 1 year low of $13.76 and a 1 year high of $21.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95.

Cenovus Energy 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.