Asset Management One Co. Ltd. Sells 642 Shares of Ovintiv Inc. (NYSE:OVV)

Asset Management One Co. Ltd. cut its stake in Ovintiv Inc. (NYSE:OVV) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,083 shares of the company’s stock after selling 642 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Ovintiv were worth $4,432,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Spirit of America Management Corp NY bought a new stake in shares of Ovintiv in the fourth quarter worth approximately $373,000. Fifth Third Bancorp grew its stake in shares of Ovintiv by 20.3% in the fourth 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 period. Quent Capital LLC grew its stake in shares of Ovintiv by 151.3% in the fourth quarter. Quent Capital LLC now owns 583 shares of the company’s stock worth $26,000 after acquiring an additional 351 shares during the period. Blue Trust Inc. grew its stake in shares of Ovintiv by 20.5% in the fourth 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 period. Finally, Viking Fund Management LLC bought a new stake in shares of Ovintiv in the fourth quarter worth approximately $2,635,000. 83.81% of the stock is currently owned by institutional investors.

Insider Transactions at Ovintiv

In other news, EVP Renee Ellen Zemljak sold 76,264 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were 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 legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Renee Ellen Zemljak sold 76,264 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $50.96, for a total value of $3,886,413.44. Following the sale, the executive vice president now owns 23,672 shares in the company, valued at $1,206,325.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rachel Maureen Moore sold 9,300 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $50.65, for a total transaction of $471,045.00. Following the completion of the sale, the executive vice president now owns 52,557 shares in the company, valued at approximately $2,662,012.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,564 shares of company stock valued at $4,660,818. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OVV. Barclays began coverage on shares of Ovintiv in a report on Wednesday. They issued an “overweight” rating and a $69.00 price objective on the stock. Mizuho reissued a “buy” rating and issued a $58.00 price objective on shares of Ovintiv in a report on Thursday, April 4th. Scotiabank dropped their price objective on shares of Ovintiv from $53.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, January 16th. Citigroup raised their price objective on shares of Ovintiv from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, Wells Fargo & Company dropped their price objective on shares of Ovintiv from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 17th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $54.94.

Ovintiv Price Performance

Shares of NYSE:OVV opened at $55.52 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.60 and a quick ratio of 0.60. Ovintiv Inc. has a 1-year low of $32.07 and a 1-year high of $55.95. The company has a market capitalization of $14.93 billion, a P/E ratio of 7.04 and a beta of 2.65. The firm’s 50 day simple moving average is $48.48 and its two-hundred day simple moving average is $46.13.

Ovintiv (NYSE:OVV) last released its earnings results on Tuesday, February 27th. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $1.94 by $0.41. Ovintiv had a net margin of 19.16% and a return on equity of 19.50%. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $2.75 billion. Research analysts expect that Ovintiv Inc. will post 6.02 EPS for the current fiscal year.

Ovintiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Thursday, March 14th. Ovintiv’s dividend payout ratio (DPR) is presently 15.21%.

About Ovintiv

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.