Miller Howard Investments Inc. NY Decreases Holdings in Cenovus Energy Inc. (NYSE:CVE)

Miller Howard Investments Inc. NY reduced its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 13.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,903 shares of the oil and gas company’s stock after selling 16,561 shares during the quarter. Miller Howard Investments Inc. NY’s holdings in Cenovus Energy were worth $1,589,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Truvestments Capital LLC purchased a new stake in Cenovus Energy in the third quarter valued at about $25,000. Blue Trust Inc. boosted its stake in Cenovus Energy by 640.3% in the 3rd quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 2,651 shares in the last quarter. SevenBridge Financial Group LLC purchased a new stake in Cenovus Energy during the 3rd quarter worth approximately $162,000. Empirical Asset Management LLC purchased a new position in shares of Cenovus Energy in the fourth quarter worth $174,000. Finally, FCG Investment Co acquired a new stake in shares of Cenovus Energy during the third quarter worth $211,000. 51.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Cenovus Energy Stock Performance

Shares of CVE stock opened at $14.81 on Friday. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. Cenovus Energy Inc. has a 12-month low of $13.76 and a 12-month high of $21.90. The business’s 50 day moving average is $15.01 and its two-hundred day moving average is $16.55. The company has a market capitalization of $27.02 billion, a P/E ratio of 10.21 and a beta of 1.99.

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.