Beutel Goodman Co Ltd. Lowers stake in Cenovus Energy Inc (USA) (CVE)

Cenovus Energy Inc (USA) (CVE) : Beutel Goodman Co Ltd. reduced its stake in Cenovus Energy Inc (USA) by 3.8% during the most recent quarter end. The investment management company now holds a total of 38,113,452 shares of Cenovus Energy Inc (USA) which is valued at $578,562,201 after selling 1,506,180 shares in Cenovus Energy Inc (USA) , the firm said in a disclosure report filed with the SEC on Apr 19, 2016.Cenovus Energy Inc (USA) makes up approximately 6.22% of Beutel Goodman Co Ltd.’s portfolio.

Cenovus Energy Inc (USA) opened for trading at $14.74 and hit $15.36 on the upside on Friday, eventually ending the session at $15.18, with a gain of 3.62% or 0.53 points. The heightened volatility saw the trading volume jump to 24,13,629 shares. Company has a market cap of $12,649 M.

Other Hedge Funds, Including , Montrusco Bolton Investments sold out all of its stake in CVE during the most recent quarter. The investment firm sold 11,312 shares of CVE which is valued $171,716.Capstone Asset Management Co boosted its stake in CVE in the latest quarter, The investment management firm added 3,430 additional shares and now holds a total of 117,309 shares of Cenovus Energy Inc (USA) which is valued at $1,575,460. Cenovus Energy Inc (USA) makes up approx 0.04% of Capstone Asset Management Co’s portfolio. Central Trust Co sold out all of its stake in CVE during the most recent quarter. The investment firm sold 350 shares of CVE which is valued $4,701.Nexus Investment Management boosted its stake in CVE in the latest quarter, The investment management firm added 9,450 additional shares and now holds a total of 442,215 shares of Cenovus Energy Inc (USA) which is valued at $5,766,484. Cenovus Energy Inc (USA) makes up approx 1.10% of Nexus Investment Management’s portfolio.

On the company’s financial health, Cenovus Energy Inc (USA) reported $-0.53 EPS for the quarter, missing the analyst consensus estimate by $ -0.36 based on the information available during the earnings call on Feb 11, 2016. Analyst had a consensus of $-0.17. The company had revenue of $2924.00 million for the quarter, compared to analysts expectations of $3112.15 million. The company’s revenue was down -31.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.78 EPS.

Many Wall Street Analysts have commented on Cenovus Energy Inc (USA). Cenovus Energy Inc (USA) was Upgraded by Goldman to ” Buy” on Jan 26, 2016. Cenovus Energy Inc (USA) was Upgraded by Nomura to ” Neutral” on Jan 21, 2016.

Cenovus Energy Inc. is a Canada-based integrated oil company. The Company is engaged in the development production and marketing of crude oil natural gas liquids (NGLs) and natural gas in Canada with refining operations in the United States. The Company operates in four segments: Oil Sands segment engaged in the development and production of Cenovus’s bitumen assets at Foster Creek Christina Lake and Narrows Lake as well as projects in the early-stages of development such as Grand Rapids and Telephone Lake and Athabasca natural gas assets; Conventional segment engaged in the development and production of conventional crude oil natural gas liquids (NGLs) and natural gas in Alberta and Saskatchewan including the heavy oil assets at Pelican Lake; Refining and Marketing segment engaged in the transporting selling and refining crude oil into petroleum and chemical products.

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