Cenovus Energy Inc. (CVE), Horizon Pharma plc (HZNP) — Yesterday Stock's Trend

Dianna Christensen
October 22, 2017

At the end of 06/30/2017 reporting period, 121 institutional holders increased their position in Cenovus Energy Inc.

TRADEMARK VIOLATION WARNING: "Cenovus Energy Inc (CVE) Shares Sold by Bank of Nova Scotia" was first published by Week Herald and is owned by of Week Herald. The Company has four top-quality enhanced oil projects: Foster Creek, Christina Lake, Pelican Lake and Weyburn. The original version of this report can be viewed at https://www.dispatchtribunal.com/2017/10/20/cenovus-energy-inc-cve-upgraded-to-buy-at-zacks-investment-research.html. Its book value per share for the most recent quarter is $14.19 while its price to book ratio for the same period is 0.69, as for as the company's cash per share for the most recent quarter is $0.33, however its price to cash per share ratio for the same period is 30.11.

Several equities analysts have recently commented on the stock. BidaskClub lowered Cenovus Energy from a sell rating to a strong sell rating in a research report on Thursday, June 22nd.

Cenovus agreed last month to sell its Suffield operations in southern Alberta to International Petroleum Corp. for C$512 million in cash.

Cenovus Energy Inc was downgraded to "equal-weight" by analysts at Morgan Stanley.

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A number of other hedge funds also recently added to or reduced their stakes in CVE. Allegis Investment Advisors LLC lifted its holdings in Cenovus Energy by 16.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,201,800 shares of the company's stock valued at $28,624,000 after buying an additional 1,428,700 shares during the period.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings results on Thursday, July 27th. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. Cenovus Energy presently has an average rating of Hold and a consensus target price of $16.06. In looking the SMA 200 we see that the stock has seen a 19.58%.The Company's net profit margin for the 12 months at 18.20%. According to the Analysts, the Low Earnings estimate for the current quarter is $-0.06, while the High earnings estimate is $0.25.Comparatively, EPS for the same quarter previous year was $-0.02. Legal & General Group Plc boosted its stake in Cenovus Energy by 3.8% in the first quarter.

Additionally on 6/27/17 National Bank Financial "Initiates Coverage On" Cenovus Energy Inc (NYSE:CVE) to Sector Perform setting price target at $0 and on 6/22/17 Goldman Sachs "Reinstates" the stock to Neutral at $0. During the same quarter a year ago, the business posted ($0.05) earnings per share.

In addition, proceeds from the recently announced Suffield asset sale, which is also expected to close in the fourth quarter of the year, will be applied against the outstanding balance of the bridge facility. Investors of record on Friday, September 15th were paid a $0.039 dividend. Whereas, in last 21 trading days (one month) was moved up -0.89% and surged in last 63 trading days (quarter) of 34.36%. This represents a $0.16 annualized dividend and a dividend yield of 1.57%. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. The ex-dividend date of this dividend is Tuesday, December 13th. Finally, Sciencast Management LP bought a new stake in Cenovus Energy in the second quarter worth about $124,000. Cenovus Energy's payout ratio is -12.93%.

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