TD Private Client Wealth LLC Acquires 1,236 Shares of Cenovus Energy Inc. (NYSE:CVE)

TD Private Client Wealth LLC lifted its stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 3.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,194 shares of the oil and gas company’s stock after buying an additional 1,236 shares during the period. TD Private Client Wealth LLC’s holdings in Cenovus Energy were worth $672,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CVE. Smead Capital Management Inc. raised its holdings in Cenovus Energy by 39.3% in the 3rd quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company’s stock valued at $257,831,000 after acquiring an additional 4,351,960 shares in the last quarter. 1832 Asset Management L.P. raised its stake in Cenovus Energy by 81.1% in the second quarter. 1832 Asset Management L.P. now owns 12,538,499 shares of the oil and gas company’s stock valued at $246,507,000 after purchasing an additional 5,613,320 shares in the last quarter. Mackenzie Financial Corp raised its stake in Cenovus Energy by 5.3% in the second quarter. Mackenzie Financial Corp now owns 11,186,227 shares of the oil and gas company’s stock valued at $219,897,000 after purchasing an additional 562,663 shares in the last quarter. Ninepoint Partners LP lifted its position in Cenovus Energy by 19.0% during the second quarter. Ninepoint Partners LP now owns 7,500,000 shares of the oil and gas company’s stock worth $147,450,000 after purchasing an additional 1,200,000 shares during the period. Finally, Geode Capital Management LLC grew its stake in Cenovus Energy by 9.7% during the third quarter. Geode Capital Management LLC now owns 6,413,919 shares of the oil and gas company’s stock worth $109,232,000 after buying an additional 568,732 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Stock Performance

NYSE CVE opened at $15.25 on Friday. The firm’s fifty day moving average price is $16.26 and its two-hundred day moving average price is $17.87. The stock has a market cap of $27.85 billion, a PE ratio of 10.52 and a beta of 2.02. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. Cenovus Energy Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $10.25 billion. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. Cenovus Energy’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS. On average, equities analysts expect that Cenovus Energy Inc. will post 1.48 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.133 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.53 annualized dividend and a dividend yield of 3.49%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.13. Cenovus Energy’s dividend payout ratio is currently 36.55%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. TD Securities downgraded shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, BMO Capital Markets decreased their price target on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Cenovus Energy presently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

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.