Toronto Dominion Bank trimmed its holdings in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 87.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 511,324 shares of the oil and gas company’s stock after selling 3,539,294 shares during the period. Toronto Dominion Bank’s holdings in Cenovus Energy were worth $27,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of CVE. Marshall Wace LLP acquired a new position in shares of Cenovus Energy in the 1st quarter valued at about $25,000. Crossmark Global Holdings Inc. lifted its stake in shares of Cenovus Energy by 7.2% in the 1st quarter. Crossmark Global Holdings Inc. now owns 60,112 shares of the oil and gas company’s stock valued at $121,000 after purchasing an additional 4,043 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Cenovus Energy by 4.5% in the 1st quarter. Van ECK Associates Corp now owns 107,326 shares of the oil and gas company’s stock valued at $217,000 after purchasing an additional 4,577 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Cenovus Energy by 2.4% in the 1st quarter. BlackRock Inc. now owns 326,616 shares of the oil and gas company’s stock valued at $660,000 after purchasing an additional 7,772 shares in the last quarter. Finally, Cumberland Partners Ltd lifted its stake in shares of Cenovus Energy by 17.2% in the 1st quarter. Cumberland Partners Ltd now owns 65,010 shares of the oil and gas company’s stock valued at $130,000 after purchasing an additional 9,531 shares in the last quarter. 75.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:CVE traded down $0.03 during midday trading on Thursday, hitting $4.94. The company had a trading volume of 159,254 shares, compared to its average volume of 5,089,000. Cenovus Energy Inc has a 12 month low of $1.41 and a 12 month high of $10.82. The company has a current ratio of 1.23, a quick ratio of 0.72 and a debt-to-equity ratio of 0.56. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of -4.75 and a beta of 2.61. The firm has a fifty day simple moving average of $4.75 and a 200 day simple moving average of $4.74.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings results on Thursday, July 23rd. The oil and gas company reported ($0.34) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.44) by $0.10. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.97 billion. Cenovus Energy had a negative return on equity of 8.03% and a negative net margin of 10.63%. During the same period last year, the company earned $0.22 EPS. Equities analysts forecast that Cenovus Energy Inc will post -1.28 EPS for the current fiscal year.
Several equities research analysts recently commented on the company. UBS Group raised their target price on Cenovus Energy from $2.70 to $6.00 and gave the company a “neutral” rating in a report on Monday, June 29th. ValuEngine upgraded Cenovus Energy from a “hold” rating to a “buy” rating in a report on Friday, May 1st. Tudor Pickering restated a “hold” rating on shares of Cenovus Energy in a report on Wednesday, April 29th. Scotiabank downgraded Cenovus Energy from an “outperform” rating to a “sector perform” rating and set a $6.50 price objective on the stock. in a report on Thursday, June 11th. Finally, Credit Suisse Group restated a “buy” rating and set a $8.00 price objective on shares of Cenovus Energy in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $9.20.
About Cenovus Energy
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.
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