Cenovus Energy Inc. (NYSE:CVE) Shares Sold by TD Asset Management Inc.

TD Asset Management Inc. trimmed its position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,010,827 shares of the oil and gas company's stock after selling 1,416,952 shares during the quarter. TD Asset Management Inc. owned about 1.86% of Cenovus Energy worth $515,294,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pathstone Holdings LLC raised its position in Cenovus Energy by 46.6% during the 3rd quarter. Pathstone Holdings LLC now owns 110,440 shares of the oil and gas company's stock worth $1,848,000 after buying an additional 35,105 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Cenovus Energy by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 76,940 shares of the oil and gas company's stock worth $1,287,000 after purchasing an additional 1,209 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Cenovus Energy by 11.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,653,192 shares of the oil and gas company's stock worth $61,163,000 after acquiring an additional 369,021 shares in the last quarter. Cerity Partners LLC lifted its stake in Cenovus Energy by 65.9% in the 3rd quarter. Cerity Partners LLC now owns 26,567 shares of the oil and gas company's stock valued at $444,000 after buying an additional 10,554 shares in the last quarter. Finally, SevenBridge Financial Group LLC purchased a new position in shares of Cenovus Energy in the third quarter valued at approximately $162,000. Institutional investors and hedge funds own 51.19% of the company's stock.

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Analyst Ratings Changes

CVE has been the topic of a number of research reports. StockNews.com lowered Cenovus Energy from a "buy" rating to a "hold" rating in a report on Saturday, December 28th. Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a report on Wednesday. Royal Bank of Canada cut their target price on Cenovus Energy from $26.00 to $25.00 and set an "outperform" rating for the company in a research note on Friday, February 21st. National Bank Financial lowered Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. Finally, Scotiabank raised Cenovus Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $29.00.

Cenovus Energy Trading Down 2.2 %

CVE traded down $0.31 during mid-day trading on Friday, hitting $13.78. 7,950,072 shares of the stock were exchanged, compared to its average volume of 8,539,786. The firm's fifty day moving average is $14.26 and its two-hundred day moving average is $15.42. Cenovus Energy Inc. has a 1-year low of $12.08 and a 1-year high of $21.90. The company has a market cap of $25.12 billion, a PE ratio of 11.39 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.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.27). The business had revenue of $8.40 billion for 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 analysts forecast that Cenovus Energy Inc. will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.1269 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Friday, March 14th. Cenovus Energy's dividend 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.