Cenovus Energy Inc (NYSE:CVE) Stock Holdings Lifted by Morgan Stanley

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Morgan Stanley lifted its holdings in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 178.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 9,297,325 shares of the oil and gas company’s stock after purchasing an additional 5,963,011 shares during the period. Morgan Stanley’s holdings in Cenovus Energy were worth $18,781,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. CIBC World Markets Inc. lifted its position in Cenovus Energy by 2.7% in the 1st quarter. CIBC World Markets Inc. now owns 8,464,138 shares of the oil and gas company’s stock valued at $17,098,000 after purchasing an additional 225,588 shares during the last quarter. Quantitative Investment Management LLC bought a new stake in Cenovus Energy in the 1st quarter valued at about $305,000. Recurrent Investment Advisors LLC lifted its position in Cenovus Energy by 368.2% in the 1st quarter. Recurrent Investment Advisors LLC now owns 633,590 shares of the oil and gas company’s stock valued at $1,280,000 after purchasing an additional 498,252 shares during the last quarter. Two Sigma Investments LP lifted its position in Cenovus Energy by 4.0% in the 1st quarter. Two Sigma Investments LP now owns 3,634,016 shares of the oil and gas company’s stock valued at $7,341,000 after purchasing an additional 139,453 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in Cenovus Energy by 174.7% in the 1st quarter. Two Sigma Advisers LP now owns 2,098,413 shares of the oil and gas company’s stock valued at $4,239,000 after purchasing an additional 1,334,400 shares during the last quarter. Institutional investors own 75.75% of the company’s stock.

CVE has been the topic of several recent research reports. UBS Group lifted their price objective on shares of Cenovus Energy from $2.70 to $6.00 and gave the company a “neutral” rating in a research report on Monday. ValuEngine raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Friday, May 1st. Zacks Investment Research cut shares of Cenovus Energy from a “hold” rating to a “sell” rating and set a $4.00 target price on the stock. in a research note on Monday, May 11th. Tudor Pickering reissued a “hold” rating on shares of Cenovus Energy in a research note on Wednesday, April 29th. Finally, TheStreet cut shares of Cenovus Energy from a “c” rating to a “d” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Cenovus Energy presently has an average rating of “Hold” and a consensus target price of $9.33.

Shares of CVE opened at $4.68 on Wednesday. Cenovus Energy Inc has a one year low of $1.41 and a one year high of $10.82. The company has a 50-day moving average of $4.45 and a two-hundred day moving average of $5.97. The company has a current ratio of 0.71, a quick ratio of 0.43 and a debt-to-equity ratio of 0.49.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.53). Cenovus Energy had a negative return on equity of 4.25% and a net margin of 1.48%. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.23 billion. Equities analysts forecast that Cenovus Energy Inc will post -1.54 EPS for the current year.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.

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Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

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