Jones Collombin Investment Counsel Inc Lowers stake in Cenovus Energy Inc (USA) (CVE)

Cenovus Energy Inc (USA) (CVE) : Jones Collombin Investment Counsel Inc reduced its stake in Cenovus Energy Inc (USA) by 2.8% during the most recent quarter end. The investment management company now holds a total of 997,884 shares of Cenovus Energy Inc (USA) which is valued at $14,130,037 after selling 28,798 shares in Cenovus Energy Inc (USA) , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.Cenovus Energy Inc (USA) makes up approximately 4.08% of Jones Collombin Investment Counsel Inc’s portfolio.

Other Hedge Funds, Including , Rockefeller Financial Services Inc sold out all of its stake in CVE during the most recent quarter. The investment firm sold 274 shares of CVE which is valued $3,880. Capital Analysts sold out all of its stake in CVE during the most recent quarter. The investment firm sold 278 shares of CVE which is valued $3,978.Nn Investment Partners Holdings N.v. reduced its stake in CVE by selling 313,727 shares or 9.78% in the most recent quarter. The Hedge Fund company now holds 2,893,403 shares of CVE which is valued at $40,536,576. Cenovus Energy Inc (USA) makes up approx 0.37% of Nn Investment Partners Holdings N.v.’s portfolio.Capstone Asset Management Co reduced its stake in CVE by selling 37,240 shares or 31.75% in the most recent quarter. The Hedge Fund company now holds 80,069 shares of CVE which is valued at $1,121,767. Cenovus Energy Inc (USA) makes up approx 0.03% of Capstone Asset Management Co’s portfolio.Foundation Resource Management Inc boosted its stake in CVE in the latest quarter, The investment management firm added 759 additional shares and now holds a total of 640,898 shares of Cenovus Energy Inc (USA) which is valued at $8,882,846. Cenovus Energy Inc (USA) makes up approx 1.64% of Foundation Resource Management Inc’s portfolio.

Cenovus Energy Inc (USA) closed down -0.03 points or -0.21% at $14.29 with 23,89,909 shares getting traded on Wednesday. Post opening the session at $14.2, the shares hit an intraday low of $14 and an intraday high of $14.33 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Cenovus Energy Inc (USA) reported $-0.51 EPS for the quarter, missing the analyst consensus estimate by $ -0.19 based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus of $-0.32.Analysts expectations of $ 2691.47.During the same quarter in the previous year, the company posted $-0.11 EPS.

Many Wall Street Analysts have commented on Cenovus Energy Inc (USA). Cenovus Energy Inc (USA) was Upgraded by Morgan Stanley to ” Overweight” on Jun 13, 2016. Company shares were Reiterated by RBC Capital Mkts on Apr 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 23 from a previous price target of $22 .

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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