Blume Capital Management Inc. Increases Holdings in Cenovus Energy Inc (CVE)

Blume Capital Management Inc. boosted its holdings in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 21.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,381 shares of the oil and gas company’s stock after acquiring an additional 2,200 shares during the period. Blume Capital Management Inc.’s holdings in Cenovus Energy were worth $87,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hartree Partners LP acquired a new stake in shares of Cenovus Energy during the fourth quarter worth $528,000. Caption Management LLC acquired a new stake in shares of Cenovus Energy during the fourth quarter worth $1,652,000. D.A. Davidson & CO. raised its holdings in shares of Cenovus Energy by 4.5% during the fourth quarter. D.A. Davidson & CO. now owns 71,778 shares of the oil and gas company’s stock worth $505,000 after purchasing an additional 3,078 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Cenovus Energy by 31.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 836,666 shares of the oil and gas company’s stock worth $5,881,000 after purchasing an additional 197,921 shares during the period. Finally, Davis Rea LTD. acquired a new stake in shares of Cenovus Energy during the fourth quarter worth $3,835,000. Institutional investors own 74.94% of the company’s stock.

CVE stock opened at $7.55 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.26. Cenovus Energy Inc has a fifty-two week low of $6.15 and a fifty-two week high of $11.47. The stock has a market capitalization of $8.90 billion, a P/E ratio of -377.50, a PEG ratio of 2.84 and a beta of 0.72.

A number of analysts have weighed in on CVE shares. Canaccord Genuity reissued a “hold” rating on shares of Cenovus Energy in a report on Tuesday, October 16th. TD Securities raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a report on Monday, October 22nd. Scotiabank raised shares of Cenovus Energy from a “sector perform” rating to a “buy” rating in a report on Tuesday, October 30th. Raymond James reaffirmed a “hold” rating on shares of Cenovus Energy in a report on Thursday, November 1st. Finally, Zacks Investment Research reaffirmed a “buy” rating and issued a $9.25 price objective on shares of Cenovus Energy in a report on Tuesday, November 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. Cenovus Energy currently has a consensus rating of “Hold” and a consensus price target of $12.54.

COPYRIGHT VIOLATION WARNING: “Blume Capital Management Inc. Increases Holdings in Cenovus Energy Inc (CVE)” was first posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this news story on another site, it was illegally copied and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this news story can be read at https://www.chaffeybreeze.com/2019/02/12/blume-capital-management-inc-increases-holdings-in-cenovus-energy-inc-cve.html.

Cenovus Energy Company Profile

Cenovus Energy, Inc engages in gas and oil provisions. Its activities include development, production, and marketing of crude oil, natural gas liquids, and natural gas in Canada. It operates through four segments: Oil Sands, Deep Basin, Refining & Marketing, and Corporate & Eliminations. The Oil sands segment includes the development and production of bitumen and natural gas in northeast Alberta including Foster Creek, Christina Lake and Narrows Lake as well as projects in the early stages of development, such as Grand Rapids and Telephone Lake.

Featured Story: Fundamental Analysis – How It Helps Investors

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).

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

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

Leave a Reply