Baker Ellis Asset Management LLC Sells 53,500 Shares of Cenovus Energy Inc. (NYSE:CVE)

Baker Ellis Asset Management LLC trimmed its position in Cenovus Energy Inc. (NYSE:CVE - Free Report) TSE: CVE by 80.6% during the 4th quarter, according to its most recent Form 13F filing with the 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 SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC increased its holdings in Cenovus Energy by 24.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 18,899 shares of the oil and gas company's stock worth $372,000 after acquiring an additional 3,652 shares in the last quarter. AXA S.A. raised its position in shares of Cenovus Energy by 14.7% during the 2nd quarter. AXA S.A. now owns 36,051 shares of the oil and gas company's stock valued at $709,000 after purchasing an additional 4,623 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Cenovus Energy by 5.3% during the 2nd quarter. Mackenzie Financial Corp now owns 11,186,227 shares of the oil and gas company's stock valued at $219,897,000 after buying an additional 562,663 shares in the last quarter. Ninepoint Partners LP boosted its holdings in Cenovus Energy by 19.0% in the 2nd quarter. Ninepoint Partners LP now owns 7,500,000 shares of the oil and gas company's stock worth $147,450,000 after buying an additional 1,200,000 shares during the period. Finally, SkyView Investment Advisors LLC increased its stake in Cenovus Energy by 13.2% in the 2nd quarter. SkyView Investment Advisors LLC now owns 41,510 shares of the oil and gas company's stock worth $816,000 after buying an additional 4,830 shares in the last quarter. Hedge funds and other institutional investors own 51.19% of the company's stock.

Cenovus Energy Price Performance

Shares of NYSE:CVE traded down $0.14 on Friday, reaching $14.88. The company's stock had a trading volume of 7,205,495 shares, compared to its average volume of 9,720,494. The company has a 50-day simple moving average of $15.26 and a 200 day simple moving average of $16.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. The company has a market cap of $27.15 billion, a P/E ratio of 10.25 and a beta of 2.01. Cenovus Energy Inc. has a 52-week low of $14.20 and a 52-week high of $21.90.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.08. The company had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $10.25 billion. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The firm's revenue for the quarter was down 17.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 earnings per share. As a group, equities research analysts anticipate that Cenovus Energy Inc. will post 1.4 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $0.133 per share. This is a boost from Cenovus Energy's previous quarterly dividend of $0.13. The ex-dividend date was Friday, December 13th. This represents a $0.53 dividend on an annualized basis and a yield of 3.58%. Cenovus Energy's payout ratio is 35.17%.

Analyst Upgrades and Downgrades

CVE has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $28.00 price objective on shares of Cenovus Energy in a research note on Monday, January 6th. BMO Capital Markets cut their price objective on shares of Cenovus Energy from $31.00 to $28.00 and set an "outperform" rating for the company in a report on Friday, November 1st. TD Securities downgraded shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 1st. Finally, StockNews.com cut shares of Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Cenovus Energy presently has an average rating of "Moderate Buy" and a consensus target price of $30.00.

Cenovus Energy Company 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.