TD Asset Management Inc. Has $515.29 Million Stock Position in Cenovus Energy Inc. (NYSE:CVE)

TD Asset Management Inc. cut its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 4.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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. owned about 1.86% of Cenovus Energy worth $515,294,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Truvestments Capital LLC acquired a new stake in shares of Cenovus Energy in the 3rd quarter valued at approximately $25,000. Farther Finance Advisors LLC boosted its position in Cenovus Energy by 104.9% in the fourth quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 851 shares in the last quarter. Sierra Ocean LLC acquired a new stake in Cenovus Energy in the fourth quarter valued at approximately $67,000. Blue Trust Inc. grew its stake in shares of Cenovus Energy by 54.7% during the fourth quarter. Blue Trust Inc. now owns 4,742 shares of the oil and gas company’s stock worth $72,000 after buying an additional 1,677 shares during the last quarter. Finally, SevenBridge Financial Group LLC bought a new position in shares of Cenovus Energy in the 3rd quarter valued at $162,000. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Stock Up 1.2 %

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

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

Cenovus Energy Cuts Dividend

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

Analyst Ratings Changes

Several research firms recently commented on CVE. National Bank Financial downgraded shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, February 21st. StockNews.com lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. Finally, Royal Bank of Canada decreased their price objective on Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus 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.