Baker Ellis Asset Management LLC Decreases Stock Holdings in Cenovus Energy Inc. (NYSE:CVE)

Baker Ellis Asset Management LLC lessened its stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 80.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,900 shares of the oil and gas company’s stock after selling 53,500 shares during the period. Baker Ellis Asset Management LLC’s holdings in Cenovus Energy were worth $195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Smead Capital Management Inc. raised its stake in shares of Cenovus Energy by 39.3% during the 3rd quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company’s stock worth $257,831,000 after acquiring an additional 4,351,960 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Cenovus Energy by 5.3% in the second quarter. Mackenzie Financial Corp now owns 11,186,227 shares of the oil and gas company’s stock worth $219,897,000 after purchasing an additional 562,663 shares during the last quarter. Ninepoint Partners LP increased its position in shares of Cenovus Energy by 19.0% during the second quarter. Ninepoint Partners LP now owns 7,500,000 shares of the oil and gas company’s stock worth $147,450,000 after purchasing an additional 1,200,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cenovus Energy by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 6,413,919 shares of the oil and gas company’s stock valued at $109,232,000 after purchasing an additional 568,732 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Cenovus Energy by 23.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,980,853 shares of the oil and gas company’s stock worth $83,330,000 after purchasing an additional 952,477 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors.

Cenovus Energy Stock Performance

NYSE CVE opened at $15.00 on Friday. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. Cenovus Energy Inc. has a twelve month low of $14.20 and a twelve month high of $21.90. The stock has a 50-day moving average of $15.26 and a 200 day moving average of $16.97. The stock has a market capitalization of $27.38 billion, a price-to-earnings ratio of 10.35 and a beta of 2.01.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its earnings results on Thursday, October 31st. The oil and gas company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. The business had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $10.25 billion. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. The company’s quarterly revenue was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 earnings per share. Sell-side analysts anticipate that Cenovus Energy Inc. will post 1.4 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a $0.133 dividend. This represents a $0.53 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Friday, December 13th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.13. Cenovus Energy’s dividend payout ratio (DPR) is 35.17%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. TD Securities lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 1st. BMO Capital Markets dropped their target price on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $28.00 price target on shares of Cenovus Energy in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.00.

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.