Toronto Dominion Bank cut its holdings in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 50.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,228,111 shares of the oil and gas company’s stock after selling 5,333,319 shares during the period. Toronto Dominion Bank owned about 0.43% of Cenovus Energy worth $46,101,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in CVE. TD Asset Management Inc. increased its holdings in Cenovus Energy by 4.2% during the 2nd quarter. TD Asset Management Inc. now owns 43,206,265 shares of the oil and gas company’s stock worth $381,888,000 after purchasing an additional 1,739,611 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in Cenovus Energy by 20.3% during the 1st quarter. First Eagle Investment Management LLC now owns 26,109,212 shares of the oil and gas company’s stock valued at $226,628,000 after acquiring an additional 4,408,987 shares during the last quarter. FIL Ltd boosted its stake in Cenovus Energy by 8.0% during the 1st quarter. FIL Ltd now owns 16,536,490 shares of the oil and gas company’s stock valued at $143,543,000 after acquiring an additional 1,230,063 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Cenovus Energy by 16.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,350,585 shares of the oil and gas company’s stock valued at $37,755,000 after acquiring an additional 613,027 shares during the last quarter. Finally, Swiss National Bank grew its holdings in Cenovus Energy by 5.3% during the 2nd quarter. Swiss National Bank now owns 3,852,900 shares of the oil and gas company’s stock worth $33,979,000 after acquiring an additional 193,400 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.
CVE traded down $0.05 during trading hours on Wednesday, hitting $9.30. 3,728,955 shares of the stock were exchanged, compared to its average volume of 3,086,251. The stock has a market cap of $11.38 billion, a price-to-earnings ratio of -5.34, a price-to-earnings-growth ratio of 3.01 and a beta of 0.96. The stock has a 50-day simple moving average of $8.72 and a 200-day simple moving average of $8.91. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.54. Cenovus Energy Inc has a 12 month low of $6.15 and a 12 month high of $10.65.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Thursday, July 25th. The oil and gas company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.07). The business had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.38 billion. Cenovus Energy had a negative return on equity of 8.70% and a net margin of 1.25%. During the same period last year, the company posted ($0.24) earnings per share. Sell-side analysts expect that Cenovus Energy Inc will post 0.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a $0.038 dividend. The ex-dividend date is Thursday, September 12th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.15 annualized dividend and a dividend yield of 1.64%. Cenovus Energy’s payout ratio is -8.62%.
Separately, CIBC raised shares of Cenovus Energy from a “neutral” rating to an “outperform” rating in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $13.41.
About Cenovus Energy
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.
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