Cenovus Energy Inc $CVE Stock Bought by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. lifted its stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 0.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,696,020 shares of the oil and gas company’s stock after acquiring an additional 32,151 shares during the quarter. Cenovus Energy makes up about 0.8% of TD Waterhouse Canada Inc.’s investment portfolio, making the stock its 29th biggest position. TD Waterhouse Canada Inc.’s holdings in Cenovus Energy were worth $305,599,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CVE. The Manufacturers Life Insurance Company purchased a new position in shares of Cenovus Energy in the 2nd quarter valued at $423,886,000. GQG Partners LLC acquired a new stake in Cenovus Energy during the 2nd quarter worth $411,552,000. Bank of America Corp DE acquired a new stake in Cenovus Energy during the 2nd quarter worth $369,701,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Cenovus Energy in the second quarter valued at $355,752,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Cenovus Energy in the second quarter valued at $261,811,000. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock traded up $0.98 during trading on Friday, reaching $32.95. The company’s stock had a trading volume of 7,498,810 shares, compared to its average volume of 7,430,596. The company has a 50-day moving average price of $31.96 and a two-hundred day moving average price of $29.08. The firm has a market cap of $59.86 billion, a PE ratio of 12.68 and a beta of 0.46. Cenovus Energy Inc has a fifty-two week low of $15.63 and a fifty-two week high of $34.16. The company has a current ratio of 1.63, a quick ratio of 1.04 and a debt-to-equity ratio of 0.25.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $1.11 EPS for the quarter, meeting the consensus estimate of $1.11. The firm had revenue of $14.59 billion during the quarter, compared to the consensus estimate of $11.87 billion. Cenovus Energy had a net margin of 12.37% and a return on equity of 21.08%. Cenovus Energy’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 EPS. On average, analysts forecast that Cenovus Energy Inc will post 4.12 EPS for the current year.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were paid a C$0.22 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. Cenovus Energy’s payout ratio is currently 24.62%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Cenovus Energy from a “neutral” rating to an “overweight” rating in a research note on Tuesday, September 8th. Royal Bank Of Canada lifted their target price on Cenovus Energy from $47.00 to $51.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Zacks Research raised Cenovus Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 28th. Gerdes Energy Research raised Cenovus Energy from a “neutral” rating to a “buy” rating and set a $50.00 target price for the company in a report on Wednesday, September 2nd. Finally, Raymond James Financial reissued an “outperform” rating on shares of Cenovus Energy in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Cenovus Energy has an average rating of “Buy” and a consensus target price of $39.00.

About Cenovus Energy

Cenovus Energy Inc (NYSE:CVE) is an integrated Canadian energy company headquartered in Calgary, Alberta. The company develops and produces crude oil, natural gas and natural gas liquids, with a significant focus on oil sands operations in Alberta. Its upstream activities include oil sands mining and in situ production, conventional oil and gas production, and the upgrading of heavy crude into synthetic crude oil.

Cenovus also operates in the downstream energy sector through crude oil refining, petroleum upgrading, marketing and distribution.