TD Waterhouse Canada Inc. Sells 44,306 Shares of Cenovus Energy Inc $CVE

Key Points

• TD Waterhouse Canada reduced its Cenovus Energy position by 44,306 shares in the second quarter, leaving it with 9.66 million shares valued at approximately $237.1 million. Institutional investors collectively own 51.19% of the company.
• Cenovus reported quarterly earnings of $1.11 per share, in line with estimates, while revenue rose 47.9% year over year to $14.59 billion. Shares opened at $32.81, near the company’s 52-week high of $33.40.
• The company declared a quarterly dividend of $0.22 per share, equivalent to an annualized yield of 2.7%. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $39.00.

TD Waterhouse Canada Inc. reduced its position in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,663,869 shares of the oil and gas company's stock after selling 44,306 shares during the period. TD Waterhouse Canada Inc. owned 0.52% of Cenovus Energy worth $237,086,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Orion Capital Management LLC purchased a new stake in Cenovus Energy during the second quarter valued at approximately $25,000. Transamerica Financial Advisors LLC grew its holdings in Cenovus Energy by 1,302.7% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company's stock worth $26,000 after purchasing an additional 1,433 shares during the last quarter. Gables Capital Management Inc. acquired a new position in shares of Cenovus Energy during the second quarter worth $35,000. Kestra Advisory Services LLC purchased a new stake in shares of Cenovus Energy during the 4th quarter valued at $38,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Cenovus Energy by 74.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company's stock valued at $44,000 after purchasing an additional 1,384 shares during the last quarter. Hedge funds and other institutional investors own 51.19% of the company's stock.

Cenovus Energy Stock Performance

Shares of CVE opened at $32.81 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.04 and a current ratio of 1.63. The stock has a 50-day moving average of $29.01 and a two-hundred day moving average of $27.22. The stock has a market cap of $60.45 billion, a P/E ratio of 12.62 and a beta of 0.35. Cenovus Energy Inc has a one year low of $15.63 and a one year high of $33.40.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $1.11 earnings per share for the quarter, meeting analysts' consensus estimates of $1.11. Cenovus Energy had a return on equity of 21.08% and a net margin of 12.37%.The business had revenue of $14.59 billion for the quarter, compared to analyst estimates of $11.87 billion. During the same period in the prior year, the company earned $0.45 earnings per share. The company's revenue was up 47.9% on a year-over-year basis. As a group, research analysts predict that Cenovus Energy Inc will post 3.2 EPS for the current year.

Cenovus Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a $0.22 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. Cenovus Energy's dividend payout ratio is currently 24.62%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wall Street Zen raised Cenovus Energy from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Scotiabank reissued an "outperform" rating on shares of Cenovus Energy in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Cenovus Energy in a report on Thursday, August 27th. Zacks Research lowered shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 16th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Cenovus Energy in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $39.00.

Cenovus Energy Company Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.

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