Foster & Motley Inc. Purchases 1,735 Shares of Ovintiv Inc. (NYSE:OVV)

Foster & Motley Inc. raised its holdings in Ovintiv Inc. (NYSE:OVV – Get Rating) by 6.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,060 shares of the company’s stock after acquiring an additional 1,735 shares during the quarter. Foster & Motley Inc.’s holdings in Ovintiv were worth $1,245,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Bay Harbor Wealth Management LLC acquired a new stake in Ovintiv in the second quarter valued at approximately $29,000. Ronald Blue Trust Inc. acquired a new stake in shares of Ovintiv during the second quarter worth about $31,000. Rosenberg Matthew Hamilton boosted its holdings in shares of Ovintiv by 26.7% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 950 shares of the company’s stock valued at $44,000 after acquiring an additional 200 shares during the last quarter. CWM LLC increased its stake in shares of Ovintiv by 20.1% in the second quarter. CWM LLC now owns 1,460 shares of the company’s stock worth $65,000 after acquiring an additional 244 shares during the period. Finally, Raleigh Capital Management Inc. acquired a new position in Ovintiv during the second quarter valued at $69,000. 76.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Renee Ellen Zemljak sold 610 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $55.12, for a total value of $33,623.20. Following the transaction, the executive vice president now directly owns 71,814 shares in the company, valued at $3,958,387.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Howard John Mayson sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $56.21, for a total value of $146,146.00. Following the transaction, the director now directly owns 24,403 shares in the company, valued at approximately $1,371,692.63. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Renee Ellen Zemljak sold 610 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $55.12, for a total transaction of $33,623.20. Following the transaction, the executive vice president now directly owns 71,814 shares of the company’s stock, valued at approximately $3,958,387.68. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

OVV has been the subject of a number of recent research reports. TheStreet lowered Ovintiv from a “b-” rating to a “c” rating in a research note on Tuesday, November 8th. Royal Bank of Canada increased their price target on shares of Ovintiv from $57.00 to $58.00 and gave the stock a “sector perform” rating in a report on Thursday, November 10th. JPMorgan Chase & Co. cut their price objective on shares of Ovintiv from $78.00 to $69.00 in a report on Wednesday, October 19th. Mizuho reaffirmed a “buy” rating and issued a $68.00 price target (up previously from $61.00) on shares of Ovintiv in a report on Tuesday, January 10th. Finally, Morgan Stanley lowered Ovintiv from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $60.00 to $51.00 in a report on Tuesday. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Ovintiv has a consensus rating of “Moderate Buy” and a consensus price target of $70.32.

Ovintiv Trading Down 2.2 %

Shares of NYSE OVV opened at $50.21 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.49. Ovintiv Inc. has a 12-month low of $35.92 and a 12-month high of $63.30. The company has a 50-day moving average of $51.15 and a 200 day moving average of $50.27.

Ovintiv (NYSE:OVV – Get Rating) last posted its quarterly earnings results on Tuesday, November 8th. The company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.54). The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Ovintiv had a net margin of 29.27% and a return on equity of 53.16%. On average, sell-side analysts expect that Ovintiv Inc. will post 8.24 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Thursday, December 15th were paid a $0.25 dividend. The ex-dividend date was Wednesday, December 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.99%.

About Ovintiv

(Get Rating)

Ovintiv Inc, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.