Cenovus Energy Inc. (NYSE:CVE)’s share price shot up 7.5% on Thursday . The company traded as high as $14.27 and last traded at $14.24, with a volume of 2,335,807 shares trading hands. The stock had previously closed at $13.25.

A number of brokerages have weighed in on CVE. Credit Suisse Group AG reiterated a “buy” rating on shares of Cenovus Energy in a report on Sunday, July 10th. Zacks Investment Research lowered shares of Cenovus Energy from a “hold” rating to a “sell” rating in a report on Wednesday, April 6th. Royal Bank Of Canada lifted their price target on shares of Cenovus Energy from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, April 28th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Cenovus Energy in a report on Wednesday, April 27th. Finally, National Bank Financial reiterated an “outperform” rating and issued a $22.00 price target (up previously from $19.00) on shares of Cenovus Energy in a report on Sunday, May 1st. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Cenovus Energy has a consensus rating of “Buy” and a consensus target price of $20.62.

The company has a market capitalization of $11.78 billion and a P/E ratio of 13.18. The firm has a 50 day moving average of $14.11 and a 200-day moving average of $13.38.

A number of hedge funds and institutional investors recently added to or reduced their stakes in CVE. Trexquant Investment LP bought a new position in Cenovus Energy during the fourth quarter valued at $1,054,000. Morgan Stanley raised its position in Cenovus Energy by 136.8% in the fourth quarter. Morgan Stanley now owns 1,307,399 shares of the company’s stock valued at $16,500,000 after buying an additional 755,315 shares in the last quarter. Gulf International Bank UK Ltd raised its position in Cenovus Energy by 0.6% in the fourth quarter. Gulf International Bank UK Ltd now owns 256,704 shares of the company’s stock valued at $3,249,000 after buying an additional 1,600 shares in the last quarter. State of Wisconsin Investment Board raised its position in Cenovus Energy by 52.9% in the fourth quarter. State of Wisconsin Investment Board now owns 650,308 shares of the company’s stock valued at $8,193,000 after buying an additional 225,100 shares in the last quarter. Finally, Comerica Bank raised its position in Cenovus Energy by 11.4% in the fourth quarter. Comerica Bank now owns 92,626 shares of the company’s stock valued at $1,080,000 after buying an additional 9,447 shares in the last quarter.

Cenovus Energy Inc (Cenovus) is an integrated oil company. The Company is engaged in the business of developing, producing and marketing crude oil, natural gas liquids (NGLs) and natural gas in Canada with marketing activities and refining operations in the United States. The Company’s segments include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations.

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