Cenovus Energy Inc $CVE Holdings Cut by TD Asset Management Inc

TD Asset Management Inc lowered its holdings in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 22.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,735,699 shares of the oil and gas company’s stock after selling 6,560,566 shares during the period. TD Asset Management Inc’s holdings in Cenovus Energy were worth $308,752,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Sequoia Financial Advisors LLC lifted its holdings in Cenovus Energy by 180.1% in the second quarter. Sequoia Financial Advisors LLC now owns 35,223 shares of the oil and gas company’s stock worth $479,000 after acquiring an additional 22,650 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in Cenovus Energy by 8.3% in the second quarter. Yousif Capital Management LLC now owns 17,539 shares of the oil and gas company’s stock worth $239,000 after acquiring an additional 1,340 shares during the last quarter. Maryland State Retirement & Pension System lifted its holdings in Cenovus Energy by 48.4% in the second quarter. Maryland State Retirement & Pension System now owns 278,759 shares of the oil and gas company’s stock worth $3,792,000 after acquiring an additional 90,940 shares during the last quarter. Castle Rock Wealth Management LLC bought a new position in Cenovus Energy in the second quarter worth about $1,331,000. Finally, Mraz Amerine & Associates Inc. lifted its holdings in Cenovus Energy by 24.5% in the second quarter. Mraz Amerine & Associates Inc. now owns 331,398 shares of the oil and gas company’s stock worth $4,507,000 after acquiring an additional 65,305 shares during the last quarter. Institutional investors own 51.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CVE. National Bankshares reissued an “outperform” rating on shares of Cenovus Energy in a report on Wednesday, September 10th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Cenovus Energy in a report on Tuesday, September 2nd. Wall Street Zen raised Cenovus Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. Raymond James Financial raised Cenovus Energy from an “outperform” rating to a “strong-buy” rating in a report on Thursday. Finally, UBS Group reaffirmed a “buy” rating on shares of Cenovus Energy in a report on Monday, August 25th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $23.33.

Cenovus Energy Price Performance

Shares of NYSE:CVE opened at $17.44 on Tuesday. Cenovus Energy Inc has a 12 month low of $10.23 and a 12 month high of $18.60. The stock has a market cap of $31.16 billion, a price-to-earnings ratio of 17.26 and a beta of 0.92. The stock’s 50 day moving average price is $16.49 and its 200 day moving average price is $14.47. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 0.78.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Thursday, July 31st. The oil and gas company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.14 by $0.19. Cenovus Energy had a return on equity of 9.06% and a net margin of 5.18%.The firm had revenue of $10.66 billion for the quarter, compared to analysts’ expectations of $10.64 billion. During the same quarter in the previous year, the company earned $0.62 earnings per share. The firm’s quarterly revenue was down 12.6% compared to the same quarter last year. Equities research analysts anticipate that Cenovus Energy Inc will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.80 annualized dividend and a yield of 4.6%. Cenovus Energy’s payout ratio is presently 57.43%.

Cenovus Energy 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.