Ovintiv Inc. (NYSE:OVV) Shares Bought by Yousif Capital Management LLC

Yousif Capital Management LLC boosted its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 6.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,105 shares of the company’s stock after buying an additional 8,016 shares during the period. Yousif Capital Management LLC’s holdings in Ovintiv were worth $5,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Xponance Inc. boosted its position in Ovintiv by 0.6% during the third quarter. Xponance Inc. now owns 41,823 shares of the company’s stock worth $1,990,000 after purchasing an additional 240 shares in the last quarter. LPL Financial LLC raised its position in Ovintiv by 0.3% in the third quarter. LPL Financial LLC now owns 89,668 shares of the company’s stock valued at $4,265,000 after purchasing an additional 261 shares during the period. Blue Trust Inc. raised its position in Ovintiv by 20.5% in the fourth quarter. Blue Trust Inc. now owns 1,667 shares of the company’s stock valued at $80,000 after purchasing an additional 284 shares during the period. Signaturefd LLC raised its position in Ovintiv by 1.7% in the third quarter. Signaturefd LLC now owns 19,093 shares of the company’s stock valued at $908,000 after purchasing an additional 317 shares during the period. Finally, Fifth Third Bancorp raised its position in Ovintiv by 20.3% in the fourth quarter. Fifth Third Bancorp now owns 1,945 shares of the company’s stock valued at $85,000 after purchasing an additional 328 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OVV has been the topic of several research analyst reports. Wells Fargo & Company cut their price objective on Ovintiv from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 17th. UBS Group boosted their price objective on Ovintiv from $62.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, April 11th. National Bankshares cut their price objective on Ovintiv from $69.00 to $53.00 and set an “outperform” rating on the stock in a report on Wednesday, January 10th. Morgan Stanley boosted their price objective on Ovintiv from $49.00 to $53.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Finally, Mizuho reissued a “buy” rating and set a $58.00 target price on shares of Ovintiv in a research note on Thursday, April 4th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.71.

Insider Buying and Selling at Ovintiv

In other news, EVP Rachel Maureen Moore sold 9,300 shares of Ovintiv stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.65, for a total transaction of $471,045.00. Following the sale, the executive vice president now directly owns 52,557 shares of the company’s stock, valued at $2,662,012.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Ovintiv news, EVP Rachel Maureen Moore sold 9,300 shares of Ovintiv stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $50.65, for a total value of $471,045.00. Following the completion of the transaction, the executive vice president now directly owns 52,557 shares in the company, valued at $2,662,012.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Howard John Mayson sold 6,000 shares of Ovintiv 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 owns 36,840 shares of the company’s stock, valued at $1,862,630.40. The disclosure for this sale can be found here. Insiders have sold 91,564 shares of company stock valued at $4,660,818 over the last three months. 1.70% of the stock is owned by company insiders.

Ovintiv Price Performance

OVV stock opened at $53.17 on Friday. Ovintiv Inc. has a 52-week low of $32.07 and a 52-week high of $55.95. The stock’s fifty day simple moving average is $50.82 and its 200-day simple moving average is $46.62. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $14.30 billion, a price-to-earnings ratio of 6.74 and a beta of 2.65.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.41. The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $2.75 billion. Ovintiv had a return on equity of 19.50% and a net margin of 19.16%. Equities research analysts expect that Ovintiv Inc. will post 6.13 EPS for the current year.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Thursday, March 14th. Ovintiv’s dividend payout ratio (DPR) is presently 15.21%.

Ovintiv 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.