Ltd. Continues to Hold Position in Cenovus Energy Inc (CVE)
Ltd. Continues to Hold Position in Cenovus Energy Inc (CVE)
11 August, 2017, 17:57
Shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) have received an average recommendation of "Hold" from the nineteen brokerages that are now covering the firm, Marketbeat reports. TradeLink Capital LLC acquired a new position in Cenovus Energy during the first quarter worth about $497,000.
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A number of brokerages recently issued reports on CVE. Canaccord Genuity reiterated a "hold" rating and issued a $16.50 price objective on shares of Cenovus Energy in a report on Wednesday, April 26th. TD Asset Management Inc. increased its position in shares of Cenovus Energy by 46.9% in the first quarter. The company's stock had a trading volume of 3,057,788 shares. Four research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and seven have assigned a buy recommendation to the company. Gateway Investment Advisers LLC boosted its position in shares of Cenovus Energy by 0.5% in the second quarter. Alpha Omega Wealth Management LLC now owns 460,964 shares of the oil and gas company's stock valued at $3,397,000 after buying an additional 374,842 shares during the period. Montgomery Investment Management Inc.'s holdings in Cenovus Energy were worth $665,000 at the end of the most recent quarter. Segantii Capital Management Ltd acquired a new position in Cenovus Energy during the first quarter worth about $56,319,000. 5,004,632 shares of the company traded hands. Foundation Resource Management Inc. now owns 657,997 shares of the oil and gas company's stock valued at $4,849,000 after buying an additional 4,883 shares during the last quarter. The fund owned 159,190 shares of the oil and gas company's stock after buying an additional 33,779 shares during the period.
Several other hedge funds have also bought and sold shares of CVE. The company's institutional ownership is monitored at 89.8 percent. Beutel Goodman & Co Ltd. increased its position in shares of Cenovus Energy by 5.0% in the first quarter. Cenovus Energy Inc has a 1-year low of $6.76 and a 1-year high of $16.82. Cenovus Energy Inc (NYSE:CVE)'s price sits 2.44% above from its 50-day moving average of $7.57 and -31.99% away from the stock's 200-day moving average which is $10.32.
Shares of Cenovus Energy Inc (CVE) opened at 8.20 on Thursday. The company beat the analyst EPS Estimate with the difference of $-0.16. The business had revenue of $3.03 billion for the quarter, compared to analysts' expectations of $3.40 billion. The return on equity ratio or ROE stands at -3.9 percent while most common profitability ratio return on investment (ROI) was -2.6 percent. Next quarter's EPS is expected be $0.09 with next year's EPS projected to be $0.31. Equities research analysts forecast that Cenovus Energy will post $0.37 earnings per share for the current year. Beutel Goodman & Co Ltd who had been investing in Cenovus Energy for a number of months, seems to be bullish on the $10.06B market cap company. Crescent Point Energy Corp." published on August 08, 2017, Fool.ca published: "Cenovus Energy Inc. The original version of this piece can be read at https://theolympiareport.com/2017/08/10/wellington-shields-capital-management-llc-sells-400-shares-of-cenovus-energy-inc-cve-updated.html. The firm has "Neutral" rating by Macquarie Research given on Thursday, March 30. Shareholders of record on Friday, September 15th will be given a $0.05 dividend. UBS AG lowered Cenovus Energy from a "market perform" rating to an "underperform" rating in a research note on Wednesday, July 5th. The stock of Cenovus Energy Inc (USA) (NYSE:CVE) earned "Overweight" rating by Morgan Stanley on Monday, June 13. The ex-dividend date was Tuesday the 13th of June 2017. The dividend yield was $0.96. Instinet cut their price objective on Cenovus Energy from C$20.00 to C$18.00 in a research note on Friday, March 31st.
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