Mackenzie Financial Reduces $94M in Cenovus Energy Inc. ($CVE)
Key Points
- Mackenzie Financial changed its Cenovus Energy Inc. ($CVE) stake by 11.5% last quarter, cutting to 25,478,426 shares worth $725.63 million.
- Wall Street's consensus rating on $CVE is Strong Buy and an average price target of $34.41.
- $CVE last traded around $28.48.
Mackenzie Financial reduced its position in Cenovus Energy Inc. ($CVE) by 11.5% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,478,426 shares of Cenovus Energy Inc. after selling 3,314,585 shares during the quarter. Mackenzie Financial's holdings in Cenovus Energy Inc. were worth $725.63 million as of its most recent filing.
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About Cenovus Energy Inc.
Cenovus Energy Inc., together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada, the United States, and China. It operates through Upstream and Downstream segments. The company is involved in the development and production of bitumen and heavy oil; owns and operates pipeline gathering systems and terminals; operation of assets rich in NGLs and natural gas in Alberta and British Columbia; and offshore operations, exploration, and development activities in the East Coast of Canada and the Asia Pacific region. It also engages in refining, such as owned and operated Lloydminster upgrading and asphalt refining complex; owns and operates the Bruderheim crude-by-rail terminal and two ethanol plants; fuels business; and refining of crude oil to produce gasoline, diesel, jet fuel, asphalt, and other products. Cenovus Energy Inc. was founded in 2009 and is headquartered in Calgary, Canada.
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