Cenovus Energy Inc. (NYSE:CVE) Shares Bought by Montgomery Investment Management Inc.

Montgomery Investment Management Inc. grew its position in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,535 shares of the oil and gas company’s stock after acquiring an additional 894 shares during the quarter. Montgomery Investment Management Inc.’s holdings in Cenovus Energy were worth $857,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its stake in Cenovus Energy by 8.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company’s stock worth $170,000 after acquiring an additional 643 shares during the last quarter. Wahed Invest LLC grew its stake in shares of Cenovus Energy by 5.6% in the third 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 in the last quarter. Harmony Asset Management LLC grew its stake in shares of Cenovus Energy by 8.1% in the third 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 in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Cenovus Energy by 1.6% in the third 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 in the last quarter. Finally, TD Private Client Wealth LLC grew its stake in shares of Cenovus Energy by 3.2% in the third 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 in the last quarter. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Trading Up 6.3 %

NYSE:CVE opened at $15.00 on Wednesday. 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 $15.06 and its two-hundred day moving average is $16.63. Cenovus Energy Inc. has a 52 week low of $13.76 and a 52 week high of $21.90. The company has a market cap of $27.37 billion, a PE ratio of 10.34 and a beta of 1.99.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CVE shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $28.00 target price on shares of Cenovus Energy in a research note on Monday, January 6th. BMO Capital Markets lowered their target price 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. Finally, StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Cenovus Energy currently 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.