TD Private Client Wealth LLC Decreases Stake in Cenovus Energy Inc. (NYSE:CVE)

TD Private Client Wealth LLC trimmed its holdings in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 12.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,164 shares of the oil and gas company’s stock after selling 5,030 shares during the quarter. TD Private Client Wealth LLC’s holdings in Cenovus Energy were worth $533,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Bridgewater Associates LP acquired a new stake in Cenovus Energy in the third quarter valued at $33,995,000. Anson Funds Management LP raised its stake in shares of Cenovus Energy by 188.2% in the 3rd quarter. Anson Funds Management LP now owns 1,877,800 shares of the oil and gas company’s stock valued at $31,405,000 after purchasing an additional 1,226,221 shares in the last quarter. Panview Capital Ltd bought a new position in shares of Cenovus Energy during the fourth quarter worth about $16,741,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Cenovus Energy by 273.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,440,237 shares of the oil and gas company’s stock worth $21,821,000 after purchasing an additional 1,054,483 shares during the last quarter. Finally, HITE Hedge Asset Management LLC acquired a new position in Cenovus Energy in the third quarter worth about $11,569,000. Institutional investors and hedge funds own 51.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CVE shares. National Bank Financial downgraded Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, February 21st. StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. 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 company’s stock. According to MarketBeat.com, Cenovus Energy has a consensus rating of “Moderate Buy” and a consensus target price of $29.25.

Cenovus Energy Stock Up 1.2 %

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

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

Cenovus Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.1269 dividend. The ex-dividend date of this dividend 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%.

About Cenovus Energy

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.