Toronto Dominion Bank Buys 3,460,311 Shares of Cenovus Energy Inc. (NYSE:CVE)

Toronto Dominion Bank grew its stake in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 91.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,233,491 shares of the oil and gas company's stock after buying an additional 3,460,311 shares during the quarter. Toronto Dominion Bank owned 0.40% of Cenovus Energy worth $109,515,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. SIR Capital Management L.P. raised its position in Cenovus Energy by 809.0% during the fourth quarter. SIR Capital Management L.P. now owns 960,300 shares of the oil and gas company's stock valued at $14,549,000 after purchasing an additional 854,658 shares in the last quarter. Recurrent Investment Advisors LLC increased its position in shares of Cenovus Energy by 12.9% during the 4th quarter. Recurrent Investment Advisors LLC now owns 4,629,912 shares of the oil and gas company's stock valued at $72,889,000 after purchasing an additional 529,700 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cenovus Energy during the 4th quarter valued at about $447,000. Polar Asset Management Partners Inc. lifted its position in Cenovus Energy by 79.8% in the 4th quarter. Polar Asset Management Partners Inc. now owns 125,637 shares of the oil and gas company's stock worth $1,903,000 after buying an additional 55,780 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its position in Cenovus Energy by 4.0% in the 4th quarter. Quantinno Capital Management LP now owns 293,956 shares of the oil and gas company's stock worth $4,453,000 after buying an additional 11,252 shares during the last quarter. 51.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on CVE shares. Veritas downgraded shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. National Bankshares reaffirmed a "sector perform" rating on shares of Cenovus Energy in a research note on Friday, April 25th. Finally, National Bank Financial lowered Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research note on Friday, February 21st. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $25.75.

Cenovus Energy Price Performance

Shares of Cenovus Energy stock opened at $13.72 on Friday. The company's fifty day simple moving average is $12.68 and its two-hundred day simple moving average is $14.21. Cenovus Energy Inc. has a 12-month low of $10.23 and a 12-month high of $21.08. The firm has a market cap of $25.00 billion, a PE ratio of 11.33 and a beta of 0.95. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. The company had revenue of $11.15 billion for the quarter, compared to analysts' expectations of $12.39 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. During the same period last year, the firm earned $0.62 earnings per share. As a group, equities analysts expect that Cenovus Energy Inc. will post 1.49 EPS for the current year.

Cenovus Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.1269 per share. The ex-dividend date was Friday, March 14th. This represents a $0.51 annualized dividend and a dividend yield of 3.70%. Cenovus Energy's dividend payout ratio (DPR) is presently 51.40%.

Cenovus Energy Profile

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.

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