Burgundy Asset Management Ltd. Lowers Position in Cenovus Energy Inc (CVE)

Burgundy Asset Management Ltd. decreased its stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 20.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 18,167,602 shares of the company’s stock after selling 4,754,826 shares during the period. Cenovus Energy comprises 2.6% of Burgundy Asset Management Ltd.’s investment portfolio, making the stock its 7th largest position. Burgundy Asset Management Ltd. owned about 2.18% of Cenovus Energy worth $274,673,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. TD Asset Management Inc. boosted its stake in shares of Cenovus Energy by 0.3% in the third quarter. TD Asset Management Inc. now owns 28,195,443 shares of the company’s stock valued at $403,972,000 after buying an additional 83,455 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Cenovus Energy by 10.4% in the third quarter. Bank of Montreal Can now owns 23,146,668 shares of the company’s stock valued at $332,617,000 after buying an additional 2,188,441 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Cenovus Energy by 12.2% in the second quarter. Vanguard Group Inc. now owns 17,474,545 shares of the company’s stock valued at $241,498,000 after buying an additional 1,899,481 shares during the last quarter. 1832 Asset Management L.P. raised its stake in Cenovus Energy by 20.1% in the second quarter. 1832 Asset Management L.P. now owns 8,703,479 shares of the company’s stock valued at $120,397,000 after buying an additional 1,456,893 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Cenovus Energy by 116.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,193,495 shares of the company’s stock valued at $103,065,000 after buying an additional 3,866,900 shares during the period. 67.88% of the stock is currently owned by institutional investors.

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

Cenovus Energy Inc (NYSE:CVE) traded up 1.35% during midday trading on Friday, hitting $13.56. The stock had a trading volume of 1,132,980 shares. The stock’s market capitalization is $11.30 billion. The company’s 50 day moving average price is $14.40 and its 200-day moving average price is $14.66. Cenovus Energy Inc has a 52 week low of $10.02 and a 52 week high of $16.82.

ILLEGAL ACTIVITY NOTICE: “Burgundy Asset Management Ltd. Lowers Position in Cenovus Energy Inc (CVE)” was posted by sleekmoney and is owned by of sleekmoney. If you are reading this report on another domain, it was illegally stolen and republished in violation of United States & international trademark & copyright legislation. The correct version of this report can be accessed at http://sleekmoney.com/burgundy-asset-management-ltd-lowers-position-in-cenovus-energy-inc-cve/1655112.html.

CVE has been the subject of a number of research analyst reports. Edward Jones lowered Cenovus Energy from a “buy” rating to a “hold” rating in a report on Tuesday, December 13th. RBC Capital Markets reiterated an “outperform” rating and set a $25.00 price target (up from $24.00) on shares of Cenovus Energy in a report on Saturday, December 10th. Scotiabank reiterated an “outperform” rating and set a $21.00 price target on shares of Cenovus Energy in a report on Saturday, December 10th. TD Securities restated a “hold” rating and set a $21.00 price objective on shares of Cenovus Energy in a research report on Saturday, December 10th. Finally, Zacks Investment Research upgraded Cenovus Energy from a “sell” rating to a “hold” rating in a research report on Friday, December 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. Cenovus Energy presently has a consensus rating of “Hold” and a consensus target price of $20.08.

Cenovus Energy Company Profile

Cenovus Energy Inc is a Canada-based integrated oil company. It is engaged in the business of developing, producing and marketing crude oil, natural gas liquids (NGLs) and natural gas. Its segments include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations. The Oil Sands segment includes the development and production of bitumen and natural gas in northeast Alberta.

5 Day Chart for NYSE:CVE

Want to see what other hedge funds are holding CVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cenovus Energy Inc (NYSE:CVE) (TSE:CVE).

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/burgundy-asset-management-ltd-lowers-position-in-cenovus-energy-inc-cve/1655112.html

Receive News & Ratings for Cenovus Energy Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy Inc and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *