U.S. Capital Wealth Advisors LLC Trims Stake in Cenovus Energy Inc. (NYSE:CVE)

U.S. Capital Wealth Advisors LLC lessened its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 11.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 389,495 shares of the oil and gas company’s stock after selling 48,620 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Cenovus Energy were worth $5,901,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Smead Capital Management Inc. grew its position in shares of Cenovus Energy by 39.3% during the third quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company’s stock worth $257,831,000 after acquiring an additional 4,351,960 shares during the last quarter. Bridgewater Associates LP acquired a new stake in Cenovus Energy during the 3rd quarter worth $33,995,000. Anson Funds Management LP grew its position in Cenovus Energy by 188.2% during the 3rd quarter. Anson Funds Management LP now owns 1,877,800 shares of the oil and gas company’s stock worth $31,405,000 after purchasing an additional 1,226,221 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Cenovus Energy by 23.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,980,853 shares of the oil and gas company’s stock valued at $83,330,000 after purchasing an additional 952,477 shares during the period. Finally, Scheer Rowlett & Associates Investment Management Ltd. raised its holdings in shares of Cenovus Energy by 33.3% in the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,163,034 shares of the oil and gas company’s stock valued at $52,896,000 after buying an additional 789,569 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Price Performance

Shares of CVE opened at $14.47 on Monday. The firm has a market capitalization of $26.40 billion, a PE ratio of 9.98 and a beta of 2.01. The stock’s 50 day moving average is $15.10 and its two-hundred day moving average is $16.71. Cenovus Energy Inc. has a twelve month low of $14.20 and a twelve month high of $21.90. 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 (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $10.25 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. Cenovus Energy’s quarterly revenue was down 17.9% on a year-over-year basis. Research analysts anticipate that Cenovus Energy Inc. will post 1.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CVE. Royal Bank of Canada reissued 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 Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. Finally, BMO Capital Markets cut their price target on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Cenovus Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

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.