TD Asset Management Inc. Reduces Position in Cenovus Energy Inc. (NYSE:CVE)

TD Asset Management Inc. decreased its position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 4.0% during the 4th quarter, Holdings Channel reports. The firm owned 34,010,827 shares of the oil and gas company’s stock after selling 1,416,952 shares during the period. TD Asset Management Inc.’s holdings in Cenovus Energy were worth $515,294,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVE. Bridgewater Associates LP bought a new stake in Cenovus Energy in the 3rd quarter worth $33,995,000. Anson Funds Management LP grew its stake in shares of Cenovus Energy by 188.2% in the third quarter. Anson Funds Management LP now owns 1,877,800 shares of the oil and gas company’s stock worth $31,405,000 after purchasing an additional 1,226,221 shares during the last quarter. Panview Capital Ltd bought a new stake in shares of Cenovus Energy in the fourth quarter worth about $16,741,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Cenovus Energy by 273.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,440,237 shares of the oil and gas company’s stock valued at $21,821,000 after purchasing an additional 1,054,483 shares during the period. Finally, HITE Hedge Asset Management LLC bought a new position in Cenovus Energy during the 3rd quarter valued at approximately $11,569,000. 51.19% of the stock is currently owned by institutional investors.

Cenovus Energy Trading Up 1.2 %

NYSE CVE opened at $14.30 on Tuesday. The firm has a market capitalization of $26.06 billion, a PE ratio of 11.81 and a beta of 1.99. The stock’s 50 day moving average is $14.33 and its 200 day moving average is $15.48. Cenovus Energy Inc. has a twelve month low of $12.08 and a twelve month high of $21.90. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.27). The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. Research analysts forecast that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.1269 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Friday, March 14th. Cenovus Energy’s dividend payout ratio is 40.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. National Bank Financial cut shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, February 21st. Finally, Royal Bank of Canada decreased their price objective on shares of Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.25.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.