oh yes. In your project settings, change it to widescreen.
There is a button for this at the top left and you can also find this under FILE. Once you have changed the aspect settings, you video will appear pillarboxed in your preview window. If you right click on your video clip and choose the pan/crop tool it will open a window. right click on the preview here and choose SET TO OUTPUT. this will crop some of the image to 16x9. you can move the window to where you want it framed.