Spinnaker Trust Increases Position in Merck & Co New Com (MRK); Cushing Asset Management LP Trimmed Its Position in Cenovus Energy (CVE) by $1.92 Million

April 23, 2018 - By Ellis Scott

Merck & Co., Inc. (NYSE:MRK) Logo

Spinnaker Trust increased its stake in Merck & Co Inc New Com (MRK) by 15.18% based on its latest 2017Q4 regulatory filing with the SEC. Spinnaker Trust bought 6,986 shares as the company’s stock declined 4.63% with the market. The institutional investor held 53,000 shares of the health care company at the end of 2017Q4, valued at $2.98M, up from 46,014 at the end of the previous reported quarter. Spinnaker Trust who had been investing in Merck & Co Inc New Com for a number of months, seems to be bullish on the $161.84B market cap company. The stock increased 2.17% or $1.2743 during the last trading session, reaching $60.1043. About 11.25 million shares traded. Merck & Co., Inc. (NYSE:MRK) has declined 14.94% since April 23, 2017 and is downtrending. It has underperformed by 26.49% the S&P500.

Cushing Asset Management Lp decreased its stake in Cenovus Energy Inc (CVE) by 81.3% based on its latest 2017Q4 regulatory filing with the SEC. Cushing Asset Management Lp sold 213,000 shares as the company’s stock declined 6.72% with the market. The hedge fund held 49,000 shares of the oil & gas production company at the end of 2017Q4, valued at $447,000, down from 262,000 at the end of the previous reported quarter. Cushing Asset Management Lp who had been investing in Cenovus Energy Inc for a number of months, seems to be less bullish one the $11.31 billion market cap company. The stock decreased 0.57% or $0.06 during the last trading session, reaching $9.57. About 2.14 million shares traded. Cenovus Energy Inc. (NYSE:CVE) has declined 35.61% since April 23, 2017 and is downtrending. It has underperformed by 47.16% the S&P500.

Among 24 analysts covering Merck & Co. Inc. (NYSE:MRK), 20 have Buy rating, 0 Sell and 4 Hold. Therefore 83% are positive. Merck & Co. Inc. had 88 analyst reports since August 13, 2015 according to SRatingsIntel. The stock of Merck & Co., Inc. (NYSE:MRK) earned “Buy” rating by Bank of America on Tuesday, April 17. The company was maintained on Friday, September 8 by Credit Suisse. The firm has “Overweight” rating given on Tuesday, April 17 by Morgan Stanley. Bank of America maintained the stock with “Buy” rating in Tuesday, November 28 report. Jefferies maintained it with “Hold” rating and $53 target in Tuesday, June 14 report. As per Tuesday, March 15, the company rating was maintained by Jefferies. The rating was maintained by Jefferies with “Hold” on Thursday, July 14. As per Thursday, January 12, the company rating was upgraded by Guggenheim. The rating was maintained by Credit Suisse with “Outperform” on Wednesday, February 14. As per Wednesday, September 30, the company rating was initiated by Societe Generale.

Spinnaker Trust, which manages about $861.66M US Long portfolio, decreased its stake in Cvs/Caremark Corp (NYSE:CVS) by 27,248 shares to 16,820 shares, valued at $1.22 million in 2017Q4, according to the filing. It also reduced its holding in Microsoft Corp (NASDAQ:MSFT) by 6,313 shares in the quarter, leaving it with 103,077 shares, and cut its stake in Exxon Mobil Corp (NYSE:XOM).

Investors sentiment decreased to 0.94 in Q4 2017. Its down 0.12, from 1.06 in 2017Q3. It turned negative, as 94 investors sold MRK shares while 631 reduced holdings. 123 funds opened positions while 558 raised stakes. 1.93 billion shares or 1.34% less from 1.96 billion shares in 2017Q3 were reported. Highlander Ltd Limited Liability Company reported 3,182 shares or 0.13% of all its holdings. Columbia Asset Management invested in 2.5% or 154,680 shares. Morgan Stanley invested in 0.22% or 14.38M shares. Pnc reported 9.46M shares or 0.52% of all its holdings. Sector Gamma As accumulated 558,500 shares. Comerica Securities Inc reported 70,902 shares or 0.51% of all its holdings. Winslow Evans & Crocker reported 0.43% of its portfolio in Merck & Co., Inc. (NYSE:MRK). Torch Wealth Ltd Liability Corp reported 25,141 shares. Navellier Assocs has invested 0.16% in Merck & Co., Inc. (NYSE:MRK). British Columbia Inv holds 1.67 million shares or 0.66% of its portfolio. New Jersey Better Educational Savings Tru holds 0.74% of its portfolio in Merck & Co., Inc. (NYSE:MRK) for 13,000 shares. Consulate owns 5,493 shares for 0.16% of their portfolio. Hendershot Invests holds 0.24% or 10,478 shares in its portfolio. Gabelli Funds Lc holds 0.26% or 805,230 shares. Legal & General Gp Public Limited Com has 0.58% invested in Merck & Co., Inc. (NYSE:MRK) for 14.33M shares.

Among 16 analysts covering Cenovus Energy Inc (NYSE:CVE), 6 have Buy rating, 2 Sell and 8 Hold. Therefore 38% are positive. Cenovus Energy Inc had 28 analyst reports since July 21, 2015 according to SRatingsIntel. The firm earned “Outperform” rating on Friday, May 26 by Credit Suisse. The rating was upgraded by Goldman Sachs on Tuesday, December 1 to “Neutral”. The company was maintained on Thursday, June 22 by Goldman Sachs. The stock of Cenovus Energy Inc. (NYSE:CVE) has “Equal-Weight” rating given on Monday, April 16 by Morgan Stanley. The firm has “Neutral” rating given on Thursday, January 21 by Nomura. The stock has “Neutral” rating by Bank of America on Thursday, April 5. JP Morgan maintained Cenovus Energy Inc. (NYSE:CVE) on Tuesday, December 15 with “Neutral” rating. The stock of Cenovus Energy Inc. (NYSE:CVE) has “Underperform” rating given on Tuesday, January 24 by Macquarie Research. The stock of Cenovus Energy Inc. (NYSE:CVE) earned “Buy” rating by Canaccord Genuity on Wednesday, June 21. Morgan Stanley downgraded Cenovus Energy Inc. (NYSE:CVE) rating on Wednesday, July 19. Morgan Stanley has “Hold” rating and $1100 target.

Analysts await Cenovus Energy Inc. (NYSE:CVE) to report earnings on April, 25 before the open. They expect $-0.12 EPS, down 200.00% or $0.08 from last year’s $-0.04 per share. After $-0.35 actual EPS reported by Cenovus Energy Inc. for the previous quarter, Wall Street now forecasts -65.71% EPS growth.

Merck & Co., Inc. (NYSE:MRK) Institutional Positions Chart

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