Foundation Resource Management Inc. trimmed its holdings in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 13.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 571,061 shares of the oil and gas company’s stock after selling 90,959 shares during the quarter. Cenovus Energy comprises approximately 0.9% of Foundation Resource Management Inc.’s portfolio, making the stock its 27th biggest position. Foundation Resource Management Inc.’s holdings in Cenovus Energy were worth $5,214,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Burgundy Asset Management Ltd. boosted its holdings in Cenovus Energy by 27.6% in the third quarter. Burgundy Asset Management Ltd. now owns 32,270,841 shares of the oil and gas company’s stock valued at $323,483,000 after purchasing an additional 6,981,739 shares in the last quarter. Visionary Asset Management Inc. purchased a new stake in Cenovus Energy in the third quarter valued at approximately $202,000. Neuberger Berman Group LLC purchased a new stake in Cenovus Energy in the third quarter valued at approximately $14,718,000. Krilogy Financial LLC purchased a new stake in Cenovus Energy in the third quarter valued at approximately $139,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in Cenovus Energy by 1,179.3% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 78,792 shares of the oil and gas company’s stock valued at $789,000 after buying an additional 72,633 shares during the last quarter. 56.78% of the stock is owned by hedge funds and other institutional investors.
Cenovus Energy Inc (CVE) traded up $0.09 during trading on Wednesday, hitting $10.46. The stock had a trading volume of 1,710,817 shares, compared to its average volume of 4,302,617. Cenovus Energy Inc has a twelve month low of $6.76 and a twelve month high of $15.21. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.41 and a quick ratio of 1.10. The stock has a market capitalization of $12,990.00, a PE ratio of 4.55 and a beta of 0.62.
A number of brokerages have weighed in on CVE. AltaCorp Capital cut Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Thursday, November 9th. Scotiabank cut Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, November 15th. Canaccord Genuity reiterated a “buy” rating and issued a $14.50 price objective on shares of Cenovus Energy in a research note on Monday, September 25th. Zacks Investment Research cut Cenovus Energy from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $15.00 price objective on shares of Cenovus Energy in a research note on Monday, October 16th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Cenovus Energy presently has an average rating of “Hold” and a consensus price target of $14.42.
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Cenovus Energy Profile
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