AustralianSuper Pty Ltd Invests $7.12 Million in Cenovus Energy Inc. (NYSE:CVE)

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wahed Invest LLC increased its stake in Cenovus Energy by 5.6% in the 3rd quarter. Wahed Invest LLC now owns 16,489 shares of the oil and gas company’s stock valued at $276,000 after buying an additional 875 shares during the last quarter. Montgomery Investment Management Inc. increased its stake in 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 valued at $857,000 after buying an additional 894 shares during the last quarter. Harmony Asset Management LLC increased its stake in Cenovus Energy by 8.1% in the 3rd quarter. Harmony Asset Management LLC now owns 13,400 shares of the oil and gas company’s stock valued at $224,000 after buying an additional 1,000 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Cenovus Energy by 1.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 76,940 shares of the oil and gas company’s stock valued at $1,287,000 after buying an additional 1,209 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its stake in Cenovus Energy by 3.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 40,194 shares of the oil and gas company’s stock valued at $672,000 after buying an additional 1,236 shares during the last quarter. 51.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $28.00 price target on shares of Cenovus Energy in a research note on Monday, January 6th. StockNews.com lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. Finally, BMO Capital Markets lowered their price objective on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Cenovus Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Cenovus Energy Stock Performance

Shares of CVE stock opened at $15.31 on Friday. The company has a market capitalization of $27.93 billion, a price-to-earnings ratio of 10.56 and a beta of 1.99. 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 50-day simple moving average of $14.98 and a 200 day simple moving average of $16.40. Cenovus Energy Inc. has a 52 week low of $13.76 and a 52 week high of $21.90.

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.