Cenovus Energy Inc (USA) (NYSE:CVE) shares trading up


Dallas, Texas 09/04/2013 (Financialstrend) – Shares of Cenovus Energy Inc (USA) (NYSE:CVE) recently faced mixed sentiments from the hedge fund managers for the second quarter of the fiscal year 2013. It was observed that by the end of the quarter, there were totally 18 hedge funds which had long positions in this stock and this presented the same results as those in the previous quarter. However, there had been few hedge fund managers who made noteworthy additions of their stake in this company during the second quarter. Harris Associates was observed to be holding the largest hedge fund stake in this firm with shares worth $610.4 million comprising 1.3% of the total fund portfolio.

The other hedge funds which had stayed bullish on this stock of Cenovus Energy Inc (USA) (NYSE:CVE) include First Eagle Investment Management, SQ Managers, Renaissance Technologies and D E Shaw. On the other hand, it was also observed that there existed some level of bearish sentiment towards this stock which resulted in the sale of shares by Chilton Investment Company for an aggregate value of $6.7 million and Alyeska Investment Group for an aggregate value of $3.4 million. Further, for the past six months, there had not been any insider sales or insider purchase of shares of this stock.

Cenovus Energy Inc (USA) (NYSE:CVE) presented gain in share prices on Tuesday to close at $30.63 per share which was an increase of 1.49% over previous close. The intraday prices of the stock moved in the range of $30.30 to $30.66 per share and the 52 week prices are at low of $28.32 and high of $36.25 per share. The stock on Tuesday reported trading volume of 1.06 million shares and the average level is at 2.24 million shares per day. Presently the company has 755.67 million shares traded in the market with institutional ownership at 72%.