Ovintiv Inc. (NYSE:OVV) Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its holdings in shares of Ovintiv Inc. (NYSE:OVV – Get Rating) by 4.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,213 shares of the company’s stock after buying an additional 1,568 shares during the period. Janney Montgomery Scott LLC’s holdings in Ovintiv were worth $1,758,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Fifth Third Bancorp boosted its position in shares of Ovintiv by 6.0% during the third quarter. Fifth Third Bancorp now owns 46,614 shares of the company’s stock worth $2,144,000 after buying an additional 2,651 shares during the period. Balasa Dinverno & Foltz LLC acquired a new stake in Ovintiv in the third quarter worth approximately $403,000. Artemis Investment Management LLP lifted its position in Ovintiv by 51.3% in the third quarter. Artemis Investment Management LLP now owns 1,762,404 shares of the company’s stock worth $81,014,000 after purchasing an additional 597,239 shares during the period. AE Wealth Management LLC lifted its position in Ovintiv by 14.7% in the third quarter. AE Wealth Management LLC now owns 11,441 shares of the company’s stock worth $526,000 after purchasing an additional 1,462 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Ovintiv by 11.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 45,487 shares of the company’s stock worth $2,092,000 after purchasing an additional 4,813 shares during the period. 76.76% of the stock is currently owned by institutional investors and hedge funds.

Ovintiv Price Performance

Shares of NYSE:OVV opened at $50.28 on Friday. The company’s fifty day moving average is $51.90 and its two-hundred day moving average is $49.87. 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 $34.41 and a 12-month high of $63.30. The company has a market cap of $12.36 billion, a P/E ratio of 4.07, a price-to-earnings-growth ratio of 0.15 and a beta of 2.80.

Ovintiv (NYSE:OVV – Get Rating) last posted its quarterly earnings results on Tuesday, November 8th. The company reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.54). Ovintiv had a return on equity of 53.16% and a net margin of 29.27%. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $2.52 billion. Equities analysts expect that Ovintiv Inc. will post 8.46 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The business 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Wednesday, December 14th. Ovintiv’s dividend payout ratio (DPR) is presently 8.10%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OVV. The Goldman Sachs Group upped their target price on Ovintiv from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, October 19th. Mizuho restated a “buy” rating and issued a $68.00 target price (up from $61.00) on shares of Ovintiv in a research report on Tuesday, January 10th. Morgan Stanley cut their target price on Ovintiv from $61.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, December 14th. Barclays cut their target price on Ovintiv from $69.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, December 7th. Finally, Royal Bank of Canada increased their price objective on Ovintiv from $57.00 to $58.00 and gave the company a “sector perform” rating in a research report on Thursday, November 10th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ovintiv presently has a consensus rating of “Moderate Buy” and an average target price of $71.00.

Insider Transactions at Ovintiv

In other news, EVP Renee Ellen Zemljak sold 610 shares of the company’s stock in a transaction on Wednesday, November 23rd. The shares were 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 of the company’s stock, valued at $3,958,387.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Ovintiv news, EVP Renee Ellen Zemljak sold 610 shares of the stock in a transaction on Wednesday, November 23rd. The shares were 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 $3,958,387.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Howard John Mayson sold 2,600 shares of the stock in a transaction on Monday, November 14th. The stock was sold at an average price of $56.21, for a total transaction of $146,146.00. Following the transaction, the director now directly owns 24,403 shares in the company, valued at $1,371,692.63. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Ovintiv Profile

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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.