Nexus Investment Management INC Increased Its Cenovus Energy INC (CVE) Stake

Nexus Investment Management Inc rose its stake by 131.72% in Cenovus Energy Inc (CVE), according to 2017Q4 SEC filling. The stock of Bed Bath & Beyond Inc. Cenovus Energy had 3 analyst reports since October 20, 2017 according to SRatingsIntel. They expect $-0.04 earnings per share, 0.00% or $0.00 from last year's $-0.04 per share. Zacks' sales averages are a mean average based on a survey of sell-side analysts that follow Cenovus Energy.

Among 32 analysts covering Bed Bath & Beyond (NASDAQ:BBBY), 2 have Buy rating, 9 Sell and 21 Hold. The company reported C ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.12 by C ($0.55). Cenovus Energy had a negative return on equity of 9.35% and a negative net margin of 11.17%. During the same quarter in the previous year, the firm posted $0.39 EPS.

Several institutional investors have recently added to or reduced their stakes in CVE. Zacks Investment Research downgraded Cenovus Energy from a "hold" rating to a "sell" rating in a research report on Monday, January 8th. Tudor Pickering raised Cenovus Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, March 28th. The stock of Cenovus Energy Inc. Cenovus Energy Inc. (NYSE:CVE) has declined 35.61% since April 16, 2017 and is downtrending. (NYSE:CVE) has "Neutral" rating given on Thursday, June 22 by Goldman Sachs. Apache Corporation had 104 analyst reports since July 21, 2015 according to SRatingsIntel. During the same quarter last year, the company posted $0.39 earnings per share. sell-side analysts anticipate that Cenovus Energy will post 0.13 EPS for the current fiscal year. The company now has a consensus rating of Hold and a consensus price target of C$15.07. TD Securities lifted their target price on Cenovus Energy from C$13.50 to C$14.00 and gave the company a hold rating in a research note on Friday, December 15th. The firm has a market cap of $11,181.99, a price-to-earnings ratio of -468.00, a P/E/G ratio of 12.49 and a beta of 0.71. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.82 and a current ratio of 1.13.

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The firm also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $0.16 annualized dividend and a yield of 1.57%. This is a boost from Cenovus Energy's previous quarterly dividend of $0.04. Cenovus Energy's dividend payout ratio is presently -800.00%. Shares for $41,143 were sold by FLEISHER MICHAEL D. Shares for $184,040 were sold by Conine Steven on Wednesday, January 24. The institutional investor is holding 1.21 million shares, compared to the 522,210 from the previous quarter. First Allied Advisory Services Inc. acquired a new stake in shares of Cenovus Energy in the third quarter worth approximately $125,000. Lincluden Management Ltd. increased its position in Cenovus Energy by 15.9% during the fourth quarter. The company's stock sank 6.72% while Nexus Investment Management Inc bought 687,840 shares. The company has market cap of $18.64 million.

Other large investors have also modified their holdings of the company.

TRADEMARK VIOLATION WARNING: This piece was originally reported by and is owned by of The legal version of this piece of content can be read at Mackenzie Financial Corp increased its position in shares of Cenovus Energy by 73.9% during the fourth quarter.

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