Livforsakringsbolaget Skandia Omsesidigt Takes Position in Ovintiv Inc. (NYSE:OVV)

Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Ovintiv Inc. (NYSE:OVV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,106 shares of the company’s stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Xponance Inc. lifted its holdings in Ovintiv by 0.6% in the 3rd quarter. Xponance Inc. now owns 41,823 shares of the company’s stock valued at $1,990,000 after purchasing an additional 240 shares in the last quarter. LPL Financial LLC increased its stake in shares of Ovintiv by 0.3% in the 3rd quarter. LPL Financial LLC now owns 89,668 shares of the company’s stock worth $4,265,000 after acquiring an additional 261 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Ovintiv by 20.5% in the 4th quarter. Blue Trust Inc. now owns 1,667 shares of the company’s stock worth $80,000 after acquiring an additional 284 shares during the last quarter. Signaturefd LLC increased its stake in shares of Ovintiv by 1.7% in the 3rd quarter. Signaturefd LLC now owns 19,093 shares of the company’s stock worth $908,000 after acquiring an additional 317 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Ovintiv by 20.3% in the 4th quarter. Fifth Third Bancorp now owns 1,945 shares of the company’s stock worth $85,000 after acquiring an additional 328 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling at Ovintiv

In other Ovintiv news, Director Howard John Mayson sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $50.56, for a total value of $303,360.00. Following the completion of the sale, the director now owns 36,840 shares in the company, valued at $1,862,630.40. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Renee Ellen Zemljak sold 76,264 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $50.96, for a total value of $3,886,413.44. Following the transaction, the executive vice president now owns 23,672 shares of the company’s stock, valued at $1,206,325.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Howard John Mayson sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $50.56, for a total value of $303,360.00. Following the completion of the transaction, the director now directly owns 36,840 shares in the company, valued at approximately $1,862,630.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,564 shares of company stock worth $4,660,818. 1.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on OVV shares. UBS Group raised their target price on Ovintiv from $62.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. The Goldman Sachs Group raised their price objective on Ovintiv from $47.00 to $56.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 26th. Scotiabank cut their price objective on Ovintiv from $53.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, January 16th. Barclays assumed coverage on Ovintiv in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $69.00 target price for the company. Finally, National Bankshares dropped their target price on Ovintiv from $69.00 to $53.00 and set an “outperform” rating for the company in a research report on Wednesday, January 10th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Ovintiv has an average rating of “Moderate Buy” and a consensus target price of $56.71.

Ovintiv Stock Up 0.9 %

OVV stock traded up $0.48 during trading on Thursday, hitting $52.23. 164,417 shares of the company’s stock were exchanged, compared to its average volume of 3,147,497. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.53. Ovintiv Inc. has a 52-week low of $32.07 and a 52-week high of $55.95. The business has a 50-day moving average price of $49.62 and a two-hundred day moving average price of $46.32. The stock has a market capitalization of $14.05 billion, a price-to-earnings ratio of 6.56 and a beta of 2.65.

Ovintiv (NYSE:OVV) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.41. Ovintiv had a return on equity of 19.50% and a net margin of 19.16%. The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $2.75 billion. As a group, equities research analysts expect that Ovintiv Inc. will post 6.36 EPS for the current year.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Thursday, March 14th. Ovintiv’s dividend payout ratio is currently 15.21%.

Ovintiv Company Profile

Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.