Galibier Capital Management Ltd. Has $30.57 Million Stake in Cenovus Energy Inc (NYSE:CVE)

Galibier Capital Management Ltd. increased its stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 25.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,003,244 shares of the oil and gas company’s stock after buying an additional 613,847 shares during the period. Cenovus Energy comprises about 9.7% of Galibier Capital Management Ltd.’s investment portfolio, making the stock its 5th largest position. Galibier Capital Management Ltd. owned approximately 0.24% of Cenovus Energy worth $30,571,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Cenovus Energy by 1.4% in the second quarter. Vanguard Group Inc. now owns 30,349,261 shares of the oil and gas company’s stock worth $267,681,000 after purchasing an additional 427,499 shares during the period. Beutel Goodman & Co Ltd. boosted its holdings in Cenovus Energy by 6.9% in the third quarter. Beutel Goodman & Co Ltd. now owns 22,323,456 shares of the oil and gas company’s stock worth $9,096,000 after purchasing an additional 1,444,938 shares during the period. CIBC Asset Management Inc boosted its holdings in Cenovus Energy by 8.7% in the third quarter. CIBC Asset Management Inc now owns 15,168,528 shares of the oil and gas company’s stock worth $142,332,000 after purchasing an additional 1,213,641 shares during the period. Lincluden Management Ltd. boosted its holdings in Cenovus Energy by 10.2% in the second quarter. Lincluden Management Ltd. now owns 5,891,532 shares of the oil and gas company’s stock worth $52,649,000 after purchasing an additional 544,920 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in Cenovus Energy by 140.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 2,674,088 shares of the oil and gas company’s stock worth $23,590,000 after purchasing an additional 1,559,840 shares during the period. Institutional investors and hedge funds own 76.89% of the company’s stock.

A number of equities analysts have commented on CVE shares. UBS Group lifted their price objective on shares of Cenovus Energy from $12.50 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Morgan Stanley downgraded shares of Cenovus Energy from an “equal” rating to an “equal weight” rating in a report on Tuesday, October 22nd. CIBC set a $16.00 price objective on shares of Cenovus Energy and gave the stock a “buy” rating in a report on Tuesday, October 15th. Goldman Sachs Group raised shares of Cenovus Energy from a “neutral” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Thursday, September 26th. Finally, Raymond James set a $13.00 price objective on shares of Cenovus Energy and gave the stock a “hold” rating in a report on Saturday, November 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $14.50.

Shares of CVE traded down $0.12 during midday trading on Tuesday, hitting $9.55. 310,297 shares of the stock traded hands, compared to its average volume of 2,489,032. Cenovus Energy Inc has a 1-year low of $7.23 and a 1-year high of $10.82. The firm has a market capitalization of $11.88 billion, a PE ratio of -5.50, a price-to-earnings-growth ratio of 1.84 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.60 and a current ratio of 1.12. The business’s 50 day moving average price is $9.66 and its two-hundred day moving average price is $9.14.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.08. Cenovus Energy had a net margin of 3.41% and a negative return on equity of 5.76%. The company had revenue of $4.70 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter in the previous year, the company posted ($0.20) earnings per share. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. As a group, equities research analysts forecast that Cenovus Energy Inc will post 0.47 EPS for the current fiscal year.

Cenovus Energy Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.

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

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