Cenovus Energy Inc. (NYSE:CVE) Shares Sold by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC reduced its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 31.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 21,775 shares of the oil and gas company’s stock after selling 9,838 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Cenovus Energy were worth $330,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Smead Capital Management Inc. lifted its position in 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 valued at $257,831,000 after buying an additional 4,351,960 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Cenovus Energy by 9.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,413,919 shares of the oil and gas company’s stock valued at $109,232,000 after acquiring an additional 568,732 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Cenovus Energy by 23.6% during the 3rd 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 acquiring an additional 952,477 shares in the last quarter. Swiss National Bank boosted its position in Cenovus Energy by 0.4% during the 3rd quarter. Swiss National Bank now owns 4,211,235 shares of the oil and gas company’s stock worth $70,546,000 after purchasing an additional 17,900 shares during the period. Finally, Recurrent Investment Advisors LLC increased its holdings in Cenovus Energy by 11.6% in the 3rd quarter. Recurrent Investment Advisors LLC now owns 4,100,212 shares of the oil and gas company’s stock valued at $69,764,000 after purchasing an additional 426,002 shares in the last quarter. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Performance

Shares of CVE opened at $14.97 on Thursday. The firm has a market cap of $27.31 billion, a price-to-earnings ratio of 10.32 and a beta of 2.01. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $15.16 and its two-hundred day moving average is $16.82. Cenovus Energy Inc. has a 52-week low of $14.20 and a 52-week high of $21.90.

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 the consensus estimate of $0.34 by $0.08. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $10.25 billion. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. The firm’s revenue for the quarter was down 17.9% compared to the same quarter last year. During the same period last year, the business earned $0.72 EPS. Analysts forecast that Cenovus Energy Inc. will post 1.4 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.