Cenovus Energy Inc (CVE) Stake Boosted by Nexus Investment Management Inc.

Nexus Investment Management Inc. grew its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 131.7% in the 4th quarter, Holdings Channel reports. The fund owned 1,210,050 shares of the oil and gas company’s stock after buying an additional 687,840 shares during the quarter. Cenovus Energy comprises about 1.6% of Nexus Investment Management Inc.’s investment portfolio, making the stock its 25th largest position. Nexus Investment Management Inc.’s holdings in Cenovus Energy were worth $11,098,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Quantitative Investment Management LLC bought a new position in shares of Cenovus Energy during the second quarter valued at about $14,036,000. Shell Asset Management Co. increased its position in shares of Cenovus Energy by 145.9% during the third quarter. Shell Asset Management Co. now owns 203,582 shares of the oil and gas company’s stock valued at $6,134,000 after buying an additional 120,792 shares during the period. Legal & General Group Plc increased its position in shares of Cenovus Energy by 7.4% during the third quarter. Legal & General Group Plc now owns 4,990,018 shares of the oil and gas company’s stock valued at $49,921,000 after buying an additional 343,344 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Cenovus Energy by 29.2% during the second quarter. Goldman Sachs Group Inc. now owns 1,564,016 shares of the oil and gas company’s stock valued at $11,527,000 after buying an additional 353,162 shares during the period. Finally, Advisor Group Inc. increased its position in shares of Cenovus Energy by 10,501.4% during the third quarter. Advisor Group Inc. now owns 118,630 shares of the oil and gas company’s stock valued at $1,188,000 after buying an additional 117,511 shares during the period. 56.78% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of Cenovus Energy from a “hold” rating to a “sell” rating in a research report on Monday. Scotiabank cut shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, November 15th. AltaCorp Capital cut shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Thursday, November 9th. Canaccord Genuity restated a “buy” rating and issued a $15.50 price objective on shares of Cenovus Energy in a report on Monday, October 30th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $15.00 price objective on shares of Cenovus Energy in a report on Monday, October 16th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $14.42.

Shares of Cenovus Energy Inc (NYSE CVE) traded up $0.09 on Thursday, reaching $10.46. 3,969,100 shares of the company’s stock were exchanged, compared to its average volume of 4,254,972. The stock has a market capitalization of $13,600.00, a PE ratio of 4.59 and a beta of 0.62. The company has a current ratio of 1.41, a quick ratio of 1.10 and a debt-to-equity ratio of 0.62. Cenovus Energy Inc has a twelve month low of $6.76 and a twelve month high of $15.21.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were issued a $0.039 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Thursday, December 14th. Cenovus Energy’s dividend payout ratio (DPR) is presently 7.02%.

ILLEGAL ACTIVITY NOTICE: This news story was reported by Community Financial News and is owned by of Community Financial News. If you are viewing this news story on another domain, it was copied illegally and republished in violation of international copyright and trademark legislation. The legal version of this news story can be read at https://www.com-unik.info/2018/01/11/cenovus-energy-inc-cve-stake-boosted-by-nexus-investment-management-inc.html.

Cenovus Energy Company Profile

Want to see what other hedge funds are holding CVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cenovus Energy Inc (NYSE:CVE) (TSE:CVE).

Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

What are top analysts saying about Cenovus Energy? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Cenovus Energy and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit