Y Intercept Hong Kong Ltd Sells 81,170 Shares of Cenovus Energy Inc $CVE

Y Intercept Hong Kong Ltd lessened its holdings in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 44.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,294 shares of the oil and gas company’s stock after selling 81,170 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Cenovus Energy were worth $1,738,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Atlantic Union Bankshares Corp bought a new position in Cenovus Energy in the 2nd quarter worth approximately $27,000. Allworth Financial LP grew its position in shares of Cenovus Energy by 104.3% in the second quarter. Allworth Financial LP now owns 2,288 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 1,168 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Cenovus Energy by 74.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 1,384 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in Cenovus Energy by 39.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 4,205 shares of the oil and gas company’s stock worth $57,000 after purchasing an additional 1,199 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Cenovus Energy by 57.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,912 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 1,800 shares in the last quarter. Institutional investors own 51.19% of the company’s stock.

Wall Street Analyst Weigh In

CVE has been the topic of a number of recent analyst reports. Raymond James Financial raised shares of Cenovus Energy from an “outperform” rating to a “strong-buy” rating in a report on Thursday, October 9th. Zacks Research downgraded shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 22nd. Scotiabank lowered Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. The Goldman Sachs Group assumed coverage on Cenovus Energy in a research report on Friday, January 2nd. They set a “buy” rating and a $20.00 target price for the company. Finally, BMO Capital Markets set a $29.00 price target on Cenovus Energy in a report on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Cenovus Energy Price Performance

Shares of Cenovus Energy stock opened at $20.41 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.18 and a current ratio of 1.73. Cenovus Energy Inc has a 52-week low of $10.23 and a 52-week high of $20.72. The company has a fifty day moving average of $17.59 and a 200-day moving average of $16.82. The stock has a market capitalization of $38.44 billion, a price-to-earnings ratio of 16.73 and a beta of 0.49.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its earnings results on Friday, October 31st. The oil and gas company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.12. The company had revenue of $10.87 billion during the quarter, compared to analyst estimates of $12.51 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 6.23%.Cenovus Energy’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.42 EPS. Equities research analysts expect that Cenovus Energy Inc will post 1.49 EPS for the current year.

Cenovus Energy Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.