Raymond James Financial Services Advisors Inc. Has $2.09 Million Stake in Ovintiv Inc. (NYSE:OVV)

Raymond James Financial Services Advisors Inc. increased its position in shares of Ovintiv Inc. (NYSE:OVVGet Rating) by 11.8% during the 3rd quarter, Holdings Channel reports. The fund owned 45,487 shares of the company’s stock after buying an additional 4,813 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Ovintiv were worth $2,092,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Coronation Fund Managers Ltd. boosted its stake in Ovintiv by 121.9% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 673,325 shares of the company’s stock worth $30,973,000 after acquiring an additional 369,874 shares during the last quarter. Zweig DiMenna Associates LLC bought a new position in Ovintiv during the 2nd quarter worth approximately $13,151,000. Seven Eight Capital LP bought a new position in Ovintiv during the 2nd quarter worth approximately $429,000. SailingStone Capital Partners LLC bought a new position in Ovintiv in the second quarter valued at approximately $647,000. Finally, Monarch Partners Asset Management LLC bought a new position in Ovintiv in the second quarter valued at approximately $427,000. Institutional investors own 76.76% of the company’s stock.

Insider Activity

In other news, Director Howard John Mayson sold 2,600 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $56.21, for a total value of $146,146.00. Following the completion of the sale, the director now owns 24,403 shares of the company’s stock, valued at $1,371,692.63. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Howard John Mayson sold 2,600 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $56.21, for a total value of $146,146.00. Following the completion of the sale, the director now owns 24,403 shares of the company’s stock, valued at $1,371,692.63. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Renee Ellen Zemljak sold 610 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $55.12, for a total transaction of $33,623.20. Following the completion of the sale, 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. 0.76% of the stock is currently owned by company insiders.

Ovintiv Stock Down 1.2 %

NYSE:OVV opened at $50.28 on Tuesday. Ovintiv Inc. has a one year low of $34.41 and a one year high of $63.30. The firm’s fifty day moving average price is $51.79 and its two-hundred day moving average price is $49.94. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.49.

Ovintiv (NYSE:OVVGet Rating) last released its quarterly earnings data on Tuesday, November 8th. The company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.54). Ovintiv had a net margin of 29.27% and a return on equity of 53.16%. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $2.52 billion. On average, analysts anticipate that Ovintiv Inc. will post 8.46 EPS for the current year.

Ovintiv Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OVV. Jefferies Financial Group began coverage on shares of Ovintiv in a research note on Wednesday, October 19th. They issued a “buy” rating and a $75.00 price target on the stock. Bank of America lifted their price target on shares of Ovintiv from $60.00 to $70.00 in a research note on Tuesday, September 20th. Siebert Williams Shank began coverage on shares of Ovintiv in a research note on Friday, December 9th. They issued a “buy” rating and a $75.00 price target on the stock. Citigroup lifted their price objective on shares of Ovintiv from $57.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, September 21st. Finally, Morgan Stanley lowered their price objective on shares of Ovintiv from $61.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, December 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Ovintiv currently has an average rating of “Moderate Buy” and a consensus price target of $71.00.

Ovintiv Company Profile

(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.

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Institutional Ownership by Quarter for Ovintiv (NYSE:OVV)

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