Y Intercept Hong Kong Ltd Has $1.74 Million Stake in Cenovus Energy Inc $CVE

Y Intercept Hong Kong Ltd lessened its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 44.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 102,294 shares of the oil and gas company’s stock after selling 81,170 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Cenovus Energy were worth $1,738,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Fiducient Advisors LLC bought a new stake in Cenovus Energy during the 3rd quarter worth approximately $170,000. Avidian Wealth Enterprises LLC acquired a new position in shares of Cenovus Energy during the 3rd quarter worth about $190,000. Triasima Portfolio Management inc. acquired a new position in Cenovus Energy during the third quarter valued at approximately $2,764,000. Dynasty Wealth Management LLC grew its stake in Cenovus Energy by 59.0% in the third quarter. Dynasty Wealth Management LLC now owns 101,726 shares of the oil and gas company’s stock valued at $1,728,000 after purchasing an additional 37,750 shares in the last quarter. Finally, JCIC Asset Management Inc. bought a new position in shares of Cenovus Energy in the third quarter valued at $4,854,000. 51.19% of the stock is currently owned by institutional investors.

Cenovus Energy Trading Up 3.0%

NYSE:CVE opened at $20.41 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.18 and a debt-to-equity ratio of 0.25. The firm has a fifty day simple moving average of $17.59 and a two-hundred day simple 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 Inc has a 12 month low of $10.23 and a 12 month high of $20.72.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVE. Raymond James Financial upgraded shares of Cenovus Energy from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, October 9th. BMO Capital Markets set a $29.00 target price on Cenovus Energy in a report on Monday, November 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cenovus Energy in a research report on Tuesday. Scotiabank downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Finally, TD Securities restated a “buy” rating on shares of Cenovus Energy in a research note on Wednesday, December 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Cenovus Energy currently has a consensus rating of “Moderate Buy” and an average target price of $27.00.

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.