Cenovus Energy Inc (NYSE:CVE) Experiences Heavier than Average Trading Volume

Andrew Cummings
August 11, 2017

Caymus Capital Partners Lp acquired 65,900 shares as Cenovus Energy Inc (CVE)'s stock declined 29.14%. Acadian Asset Management LLC increased its stake in shares of Cenovus Energy by 759.4% in the second quarter.

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Wellington Shields Capital Management LLC lowered its position in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). For institutional shareholders who wish to sell a large number of shares of a certain stock, lower liquidity will force them to sell the stock slowly over a longer period of time, to avoid losses because of slippage. If you are accessing this report on another website, it was illegally copied and reposted in violation of global trademark & copyright legislation. Letko, Brosseau & Associates Inc added to its investment by buying 7,354,590 shares an increase of 37.1% in the quarter. Over the last ninety days, insiders acquired 93,800 shares of company stock worth $1,171,428. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Zacks Investment Research upgraded shares of Cenovus Energy from a "hold" rating to a "buy" rating and set a $8.25 price objective for the company in a research note on Tuesday, July 25th. The shares were purchased at an average cost of C$13.30 per share, for a total transaction of C$332,500.00. The value of the total investment in Cenovus Energy Inc went from $223,728,000 to $199,920,000 a change of $23,808,000 quarter to quarter. Finally, Pzena Investment Management LLC raised its stake in Cenovus Energy by 16.0% in the second quarter. For the past 5 years, the company's revenue has grown -5%, while the company's earnings per share has grown -18.5%. The fund owned 166,272 shares of the oil and gas company's stock after selling 1,802,841 shares during the period. Aviva PLC now owns 639,225 shares of the oil and gas company's stock valued at $4,707,000 after buying an additional 121,210 shares during the period. (NYSE:CVE) by some 127,842,307 shares, 114 decreased positions by 47,716,878 and 55 held positions by 522,027,405.


Institutional investors now hold around $5.75 billion or 73.1% in CVE stock. The shares were bought at an average price of C$8.56 per share, with a total value of C$75,328.00. Letko Brosseau & Associates Inc. raised its position in shares of Cenovus Energy by 43.3% in the first quarter.

The P/E ratio is 3.36 and market capitalization is 9.81B. The stock's 50 day moving average is $9.70 and its 200-day moving average is $14.00.

Cenovus Energy (TSE:CVE) opened at 10.54 on Thursday. The oil and gas company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.24. Equities analysts anticipate that Cenovus Energy Inc will post $0.37 earnings per share for the current year.


The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.039 dividend. While in the same Quarter Previous year, the Actual EPS was $-0.22. Crescent Point Energy Corp." published on August 08, 2017, Fool.ca published: "Cenovus Energy Inc. Cenovus Energy's dividend payout ratio is 8.33%. The correct version of this article can be viewed at https://www.baseball-news-blog.com/2017/08/09/cenovus-energy-inc-cve-price-target-cut-to-c11-00-updated-updated.html.

A number of research firms have issued reports on CVE. The ex-dividend date was set for Tuesday the 13th of June 2017. ValuEngine downgraded shares of Cenovus Energy from a "hold" rating to a "sell" rating in a research note on Friday, June 2nd. The dividend yield was $0.96. BidaskClub downgraded Cenovus Energy from a "sell" rating to a "strong sell" rating in a report on Thursday, June 22nd.


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