Cardinal Capital Management Lowers stake in Cenovus Energy Inc (USA) (CVE)

Cenovus Energy Inc (USA) (CVE) : Cardinal Capital Management reduced its stake in Cenovus Energy Inc (USA) by 4.02% during the most recent quarter end. The investment management company now holds a total of 2,470,274 shares of Cenovus Energy Inc (USA) which is valued at $36,362,433 after selling 103,460 shares in Cenovus Energy Inc (USA) , the firm said in a disclosure report filed with the SEC on Oct 5, 2016.Cenovus Energy Inc (USA) makes up approximately 4.12% of Cardinal Capital Management’s portfolio.

Other Hedge Funds, Including ,

Cenovus Energy Inc (USA) closed down -0.06 points or -0.42% at $14.31 with 21,99,313 shares getting traded on Tuesday. Post opening the session at $14.42, the shares hit an intraday low of $14.06 and an intraday high of $14.55 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. 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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