Mawer Investment Management Ltd. buys $96,984,259 stake in Cenovus Energy Inc (USA) (CVE)

Cenovus Energy Inc (USA) (CVE) : Mawer Investment Management Ltd. scooped up 1,084,493 additional shares in Cenovus Energy Inc (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 6,575,204 shares of Cenovus Energy Inc (USA) which is valued at $96,984,259.Cenovus Energy Inc (USA) makes up approximately 1.39% of Mawer Investment Management Ltd.’s portfolio.

Other Hedge Funds, Including , Brown Brothers Harriman Co sold out all of its stake in CVE during the most recent quarter. The investment firm sold 3,610 shares of CVE which is valued $53,248.Pacad Investment Ltd. boosted its stake in CVE in the latest quarter, The investment management firm added 17,060 additional shares and now holds a total of 64,500 shares of Cenovus Energy Inc (USA) which is valued at $951,375. Cenovus Energy Inc (USA) makes up approx 0.13% of Pacad Investment Ltd.’s portfolio.Great West Life Assurance Co Can boosted its stake in CVE in the latest quarter, The investment management firm added 758,410 additional shares and now holds a total of 5,192,603 shares of Cenovus Energy Inc (USA) which is valued at $74,046,519. Cenovus Energy Inc (USA) makes up approx 0.22% of Great West Life Assurance Co Can’s portfolio.Welch Forbes reduced its stake in CVE by selling 12,320 shares or 12.43% in the most recent quarter. The Hedge Fund company now holds 86,824 shares of CVE which is valued at $1,238,110. Cenovus Energy Inc (USA) makes up approx 0.04% of Welch Forbes’s portfolio.

Cenovus Energy Inc (USA) opened for trading at $14.37 and hit $14.665 on the upside on Thursday, eventually ending the session at $14.61, with a gain of 1.11% or 0.16 points. The heightened volatility saw the trading volume jump to 26,04,630 shares. Company has a market cap of $12,174 M.

On the company’s financial health, Cenovus Energy Inc (USA) reported $-0.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.14.Analysts expectations of $ 2617.51.During the same quarter in the previous year, the company posted $0.18 EPS.

Many Wall Street Analysts have commented on Cenovus Energy Inc (USA). Cenovus Energy Inc (USA) was Initiated by BofA/Merrill to “Neutral” on Aug 19, 2016. Cenovus Energy Inc (USA) was Upgraded by Morgan Stanley to ” Overweight” on Jun 13, 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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