Jarislowsky Fraser Ltd Lowers stake in Cenovus Energy Inc (USA) (CVE)

Cenovus Energy Inc (USA) (CVE) : Jarislowsky Fraser Ltd reduced its stake in Cenovus Energy Inc (USA) by 1.04% during the most recent quarter end. The investment management company now holds a total of 24,874,110 shares of Cenovus Energy Inc (USA) which is valued at $366,893,123 after selling 262,498 shares in Cenovus Energy Inc (USA) , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Cenovus Energy Inc (USA) makes up approximately 2.59% of Jarislowsky Fraser Ltd’s portfolio.

Other Hedge Funds, Including , O’shaughnessy Asset Management sold out all of its stake in CVE during the most recent quarter. The investment firm sold 125,053 shares of CVE which is valued $1,844,532. Trexquant Investment Lp added CVE to its portfolio by purchasing 12,534 company shares during the most recent quarter which is valued at $184,877. Cenovus Energy Inc (USA) makes up approx 0.02% of Trexquant Investment Lp’s portfolio.Ubs Asset Management Americas Inc boosted its stake in CVE in the latest quarter, The investment management firm added 61,567 additional shares and now holds a total of 1,929,184 shares of Cenovus Energy Inc (USA) which is valued at $28,474,756. Cenovus Energy Inc (USA) makes up approx 0.03% of Ubs Asset Management Americas Inc’s portfolio.I.g. Investment Management Ltd. reduced its stake in CVE by selling 2,623,476 shares or 32.12% in the most recent quarter. The Hedge Fund company now holds 5,543,780 shares of CVE which is valued at $80,218,497. Cenovus Energy Inc (USA) makes up approx 0.31% of I.g. Investment Management Ltd.’s portfolio.World Asset Management Inc boosted its stake in CVE in the latest quarter, The investment management firm added 3,957 additional shares and now holds a total of 51,568 shares of Cenovus Energy Inc (USA) which is valued at $735,360. Cenovus Energy Inc (USA) makes up approx 0.03% of World Asset Management Inc’s portfolio.

Cenovus Energy Inc (USA) closed down -0.05 points or -0.33% at $15.05 with 11,79,881 shares getting traded on Tuesday. Post opening the session at $15.08, the shares hit an intraday low of $14.95 and an intraday high of $15.2 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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 (USA) was Upgraded by Morgan Stanley to ” Overweight” on Jun 13, 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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