Cenovus Energy (NYSE: CVE), according to a note to investors that was published on Thursday by StockNews.com, is one of the companies that the website has started keeping an eye on (TSE: CVE).
The brokerage firm gave the shares of the oil and gas company a rating of “hold,” which means to maintain current ownership.
On Thursday, the NYSE CVE opened with a price of $15.81 at the beginning of trading. $30.17 billion is the same as the market capitalization of the stock, the price-to-earnings ratio of the stock (which is 6.43), and the beta value of the stock.
During the previous year, the price of Cenovus Energy fluctuated between $14.44 and $24.91 at various points, reaching a low of $14.44 and a high of $24.91.
The company’s moving average price over the previous two hundred days is $18.82, and its moving average price over the previous fifty days is $18.88.
The quick ratio is 1.01, the current ratio is 1.55, and the debt-to-equity ratio is 0.32.
All of these numbers are relative to the liquidity of the company.
These numbers should be interpreted in the context of the company’s liquidity.
The CVE has been the focus of many additional research and investigation projects. On Tuesday, January 17, the Canadian Imperial Bank of Commerce (CIBC) issued a report stating that they had decreased their price target for Cenovus Energy from C$32.00 to C$31.00.
In a report distributed on January 17 by Scotiabank, it was stated that the price target that Scotiabank has set for Cenovus Energy had been decreased from C$33.00 to C$31.00.
This change resulted from a decrease in the price target that Scotiabank had set for itself. Raymond James increased its price objective for Cenovus Energy from C$32.00 (Canadian) to C$33.00 (Canadian) in a report disseminated on Wednesday, December 7. Credit Suisse Group stated in a research note published on November 21 that they would be decreasing their target price on Cenovus Energy shares from C$37.00 to C$35.00.
BMO Capital Markets lowered their price target for Cenovus Energy shares from C$33.00 to C$32.00 in a research note published on Friday, February 17.
This was the final reduction, but it was not the least important.
As a result of the recent activity in the market, several hedge funds have recently adjusted their stock holdings. Vanguard Group INC increased the amount of Cenovus Energy stock owned by 2.1% during the third quarter. Vanguard Group INC now owns 41,530,265 shares in the oil and gas company, with a value of $638,320,000, thanks to the purchase of 869,663 additional shares in the company during the most recent fiscal quarter. GQG Partners LLC invested in Cenovus Energy with a total value of $609,445,000 during the year’s second quarter.
During the first three months of 2018, Capital World Investments increased 30.0% the proportion of Cenovus Energy stock they owned. Capital World Investments now holds 28,481,746 shares of the oil and gas company’s stock, which have a value of $474,791,000 following the acquisition of an additional 6,570,038 shares during the most recent quarter.
In the course of the preceding three months, Boston Partners was successful in elevating the percentage of ownership it holds in Cenovus Energy to 16.4%.
Boston Partners now holds 26,325,850 shares of the oil and gas company’s stock, valued at $569,028,000, after purchasing an additional 3,705,805 shares during the most recent quarter. Not to be outdone, Wellington Management Group LLP increased the proportion of Cenovus Energy owned by 68.8% during the first three months of the year.
In the most recent quarter, Wellington Management Group LLP increased its holdings in the oil and gas company by purchasing an additional 8,098,474 shares, bringing its total number to 19,871,360.
The value of these shares on the market currently is $331,500,000.
There are 49.27% of the company’s shares that institutional investors, such as hedge funds and other financial organizations, hold.
Cenovus Energy, INC is a completely integrated energy company, and its headquarters are located in Canada.
The company is in the business of selling both gas and oil.
This company’s operations comprise its various business divisions: Oil Sands, Conventional, Offshore, Canadian Manufacturing, US Manufacturing, Corporate, and elimination, respectively.
The Oil Sands Company’s operations in the northern regions of Alberta and Saskatchewan involve the exploration and production of bitumen and heavy oil.
The company’s employees carry out these operations.