Cambiar Investors LLC Has $37.18 Million Holdings in Cenovus Energy Inc. (NYSE:CVE)

Cambiar Investors LLC cut its holdings in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 20.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,453,792 shares of the oil and gas company’s stock after selling 615,363 shares during the quarter. Cambiar Investors LLC’s holdings in Cenovus Energy were worth $37,175,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Smead Capital Management Inc. lifted its stake in Cenovus Energy by 39.3% in 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 acquiring an additional 4,351,960 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Cenovus Energy by 9.7% in the third 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 purchasing an additional 568,732 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Cenovus Energy by 23.6% in the third 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 purchasing an additional 952,477 shares during the period. Swiss National Bank raised its position in shares of Cenovus Energy by 0.4% in the third quarter. Swiss National Bank now owns 4,211,235 shares of the oil and gas company’s stock valued at $70,546,000 after purchasing an additional 17,900 shares during the period. Finally, Recurrent Investment Advisors LLC increased its position in Cenovus Energy by 11.6% during the third quarter. Recurrent Investment Advisors LLC now owns 4,100,212 shares of the oil and gas company’s stock worth $69,764,000 after acquiring an additional 426,002 shares during the period. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Cenovus Energy Stock Up 2.6 %

Shares of NYSE:CVE opened at $15.19 on Tuesday. Cenovus Energy Inc. has a 52 week low of $13.76 and a 52 week high of $21.90. 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’s fifty day moving average is $15.00 and its 200-day moving average is $16.50. The company has a market capitalization of $27.71 billion, a PE ratio of 10.47 and a beta of 1.99.

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.