Cenovus Energy INC (CVE) Holder Luminus Management LLC Boosted Stake by $68.53 Million

Cenovus Energy Inc. (NYSE:CVE) Logo

Luminus Management Llc increased its stake in Cenovus Energy Inc (CVE) by 62.08% based on its latest 2019Q2 regulatory filing with the SEC. Luminus Management Llc bought 8.57 million shares as the company’s stock declined 1.17% . The hedge fund held 22.37 million shares of the oil & gas production company at the end of 2019Q2, valued at $197.28M, up from 13.80M at the end of the previous reported quarter. Luminus Management Llc who had been investing in Cenovus Energy Inc for a number of months, seems to be bullish on the $11.69B market cap company. The stock decreased 1.58% or $0.15 during the last trading session, reaching $9.35. About 4.61M shares traded or 35.00% up from the average. Cenovus Energy Inc. (NYSE:CVE) has declined 7.85% since September 13, 2018 and is downtrending. It has underperformed by 7.85% the S&P500.

Luminus Management Llc, which manages about $3.51B and $4.17B US Long portfolio, decreased its stake in Ashland Global Holdings Inc (Call) by 2.22M shares to 150,000 shares, valued at $12.00 million in 2019Q2, according to the filing. It also reduced its holding in Air Products & Chemicals Inc (NYSE:APD) by 523,251 shares in the quarter, leaving it with 679,638 shares, and cut its stake in Dominion Energy Inc (NYSE:D).

More news for Cenovus Energy Inc. (NYSE:CVE) were recently published by: Seekingalpha.com, which released: “Cenovus Energy Cash Flow Cascade Continues – Seeking Alpha” on September 05, 2019. Finance.Yahoo.com‘s article titled: “Hedge Funds Have Never Been More Bullish On Cenovus Energy Inc (CVE) – Yahoo Finance” and published on June 13, 2019 is yet another important article.

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