Toronto Dominion Bank Has $109.52 Million Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

Toronto Dominion Bank lifted its stake in shares of Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 91.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,233,491 shares of the oil and gas company's stock after purchasing an additional 3,460,311 shares during the period. Toronto Dominion Bank owned approximately 0.40% of Cenovus Energy worth $109,515,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Assenagon Asset Management S.A. increased its stake in shares of Cenovus Energy by 1,289.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 430,781 shares of the oil and gas company's stock valued at $6,526,000 after acquiring an additional 399,787 shares during the last quarter. Gateway Investment Advisers LLC raised its holdings in Cenovus Energy by 175.4% in the fourth quarter. Gateway Investment Advisers LLC now owns 103,509 shares of the oil and gas company's stock worth $1,568,000 after purchasing an additional 65,921 shares during the period. Empirical Asset Management LLC bought a new position in shares of Cenovus Energy during the fourth quarter worth $174,000. Arkadios Wealth Advisors grew its holdings in shares of Cenovus Energy by 10.4% in the 4th quarter. Arkadios Wealth Advisors now owns 17,908 shares of the oil and gas company's stock valued at $271,000 after buying an additional 1,684 shares during the period. Finally, Grove Bank & Trust grew its holdings in shares of Cenovus Energy by 9.1% in the 4th quarter. Grove Bank & Trust now owns 38,465 shares of the oil and gas company's stock valued at $583,000 after buying an additional 3,194 shares during the period. Institutional investors and hedge funds own 51.19% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. National Bank Financial downgraded Cenovus Energy from an "outperform" rating to a "sector perform" rating in a report on Friday, February 21st. Veritas downgraded shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 14th. Royal Bank of Canada reiterated an "outperform" rating and issued a $25.00 price target on shares of Cenovus Energy in a report on Friday, April 11th. Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, National Bankshares reiterated a "sector perform" rating on shares of Cenovus Energy in a report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $25.75.

Cenovus Energy Stock Performance

CVE stock traded up $0.13 during mid-day trading on Friday, hitting $13.45. 5,424,839 shares of the company were exchanged, compared to its average volume of 9,094,154. Cenovus Energy Inc. has a 1-year low of $10.23 and a 1-year high of $21.08. The business has a 50 day simple moving average of $12.68 and a 200-day simple moving average of $14.15. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $24.50 billion, a PE ratio of 11.09 and a beta of 0.95.

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

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.