Ovintiv Inc. (NYSE:OVV) Stock Position Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its holdings in shares of Ovintiv Inc. (NYSE:OVVGet Rating) by 21.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 674,177 shares of the company’s stock after selling 181,224 shares during the period. Victory Capital Management Inc.’s holdings in Ovintiv were worth $31,012,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Rosenberg Matthew Hamilton raised its position in shares of Ovintiv by 26.7% in the third quarter. Rosenberg Matthew Hamilton now owns 950 shares of the company’s stock valued at $44,000 after purchasing an additional 200 shares during the period. Private Capital Group LLC boosted its stake in shares of Ovintiv by 7.1% during the second quarter. Private Capital Group LLC now owns 3,114 shares of the company’s stock valued at $138,000 after purchasing an additional 207 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Ovintiv by 1.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 23,533 shares of the company’s stock valued at $1,082,000 after acquiring an additional 234 shares in the last quarter. CWM LLC boosted its position in Ovintiv by 20.1% in the second quarter. CWM LLC now owns 1,460 shares of the company’s stock worth $65,000 after purchasing an additional 244 shares during the last quarter. Finally, Veriti Management LLC increased its stake in Ovintiv by 5.2% in the 2nd quarter. Veriti Management LLC now owns 5,326 shares of the company’s stock worth $235,000 after acquiring an additional 263 shares during the last quarter. 76.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ovintiv

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

Ovintiv Stock Performance

NYSE:OVV opened at $50.17 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.51 and a current ratio of 0.51. The firm’s 50-day moving average is $51.40 and its 200-day moving average is $50.17. Ovintiv Inc. has a 52-week low of $34.41 and a 52-week high of $63.30.

Ovintiv (NYSE:OVVGet 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 business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $2.52 billion. As a group, analysts forecast that Ovintiv Inc. will post 8.27 earnings per share for the current 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. 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

OVV has been the topic of several analyst reports. The Goldman Sachs Group raised their target price on Ovintiv from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, October 19th. Royal Bank of Canada raised their target price 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. Morgan Stanley decreased their target price on shares of Ovintiv from $61.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, December 14th. National Bankshares decreased their target price on shares of Ovintiv from $77.00 to $74.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 9th. Finally, Cowen increased their price objective on shares of Ovintiv to $79.00 in a research report on Tuesday, November 15th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.00.

Ovintiv Company 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.

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Institutional Ownership by Quarter for Ovintiv (NYSE:OVV)

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