28,300 Cenovus Energy Inc $CVE Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. reduced its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 8.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 289,300 shares of the oil and gas company’s stock after selling 28,300 shares during the period. Hennessy Advisors Inc.’s holdings in Cenovus Energy were worth $8,991,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CVE. Orion Capital Management LLC acquired a new position in shares of Cenovus Energy during the 2nd quarter worth approximately $25,000. Versant Capital Management Inc raised its position in shares of Cenovus Energy by 990.9% in the third quarter. Versant Capital Management Inc now owns 1,080 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 981 shares in the last quarter. Gables Capital Management Inc. bought a new stake in shares of Cenovus Energy in the second quarter valued at approximately $35,000. GK Wealth Management LLC bought a new stake in shares of Cenovus Energy in the third quarter valued at approximately $59,000. Finally, SBI Securities Co. Ltd. grew its position in Cenovus Energy by 149.8% during the third quarter. SBI Securities Co. Ltd. now owns 2,336 shares of the oil and gas company’s stock worth $73,000 after buying an additional 1,401 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors.

Cenovus Energy Price Performance

Shares of CVE stock opened at $32.76 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.25. Cenovus Energy Inc has a twelve month low of $15.63 and a twelve month high of $34.16. The company has a market cap of $59.51 billion, a P/E ratio of 12.60 and a beta of 0.38. The business has a fifty day simple moving average of $32.22 and a 200 day simple moving average of $27.39.

Analyst Ratings Changes

CVE has been the subject of several recent analyst reports. UBS Group cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. Raymond James Financial reissued an “outperform” rating on shares of Cenovus Energy in a report on Wednesday, October 14th. Desjardins upgraded shares of Cenovus Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Weiss Ratings upgraded shares of Cenovus Energy from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, October 23rd. Finally, JPMorgan Chase & Co. raised shares of Cenovus Energy from a “neutral” rating to an “overweight” rating in a report on Tuesday, September 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Cenovus Energy presently has an average rating of “Buy” and an average price target of $39.00.

Cenovus Energy Company Profile

Cenovus Energy Inc (NYSE:CVE) is an integrated Canadian energy company engaged in the exploration, development, production, transportation, and marketing of crude oil and natural gas. Its upstream operations include oil sands projects in northern Alberta, as well as conventional oil and natural gas assets in Canada.

The company also operates oil sands upgraders, refineries, and related infrastructure. Through its downstream business, Cenovus produces and markets refined petroleum products, including gasoline, diesel, jet fuel, asphalt, and other products.