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 0.3% during the most recent quarter end. The investment management company now holds a total of 42,292,552 shares of Cenovus Energy Inc (USA) which is valued at $651,728,226 after selling 126,255 shares in Cenovus Energy Inc (USA) , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Cenovus Energy Inc (USA) makes up approximately 6.25% of Beutel Goodman Co Ltd.’s portfolio.

Other Hedge Funds, Including , Nexus Investment Management reduced its stake in CVE by selling 1,300 shares or 0.29% in the most recent quarter. The Hedge Fund company now holds 448,365 shares of CVE which is valued at $6,909,305. Cenovus Energy Inc (USA) makes up approx 1.28% of Nexus Investment Management’s portfolio. Simplex Trading added CVE to its portfolio by purchasing 9,295 company shares during the most recent quarter which is valued at $138,496. Cenovus Energy Inc (USA) makes up approx 0.02% of Simplex Trading’s portfolio.Foundation Resource Management Inc reduced its stake in CVE by selling 1,050 shares or 0.16% in the most recent quarter. The Hedge Fund company now holds 639,848 shares of CVE which is valued at $9,418,563. Cenovus Energy Inc (USA) makes up approx 1.70% of Foundation Resource Management Inc’s portfolio.Cardinal Capital Management reduced its stake in CVE by selling 103,460 shares or 4.02% in the most recent quarter. The Hedge Fund company now holds 2,470,274 shares of CVE which is valued at $36,362,433. Cenovus Energy Inc (USA) makes up approx 4.12% of Cardinal Capital Management’s portfolio.

Cenovus Energy Inc (USA) opened for trading at $15.24 and hit $15.435 on the upside on Tuesday, eventually ending the session at $15.41, with a gain of 0.46% or 0.07 points. The heightened volatility saw the trading volume jump to 19,22,166 shares. Company has a market cap of $12,841 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. 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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