Ovintiv Inc. (NYSE:OVV) Shares Purchased by Xponance Inc.

Xponance Inc. increased its position in shares of Ovintiv Inc. (NYSE:OVV) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,424 shares of the company’s stock after acquiring an additional 601 shares during the period. Xponance Inc.’s holdings in Ovintiv were worth $1,863,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of OVV. Quent Capital LLC grew its holdings in Ovintiv by 151.3% during 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. Loomis Sayles & Co. L P boosted its position in Ovintiv by 107.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 658 shares of the company’s stock worth $31,000 after acquiring an additional 341 shares during the period. Pacifica Partners Inc. acquired a new stake in Ovintiv during the 4th quarter worth about $37,000. Quantbot Technologies LP acquired a new stake in Ovintiv during the 3rd quarter worth about $38,000. Finally, Ronald Blue Trust Inc. boosted its position in Ovintiv by 76.6% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,383 shares of the company’s stock worth $66,000 after acquiring an additional 600 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Ovintiv Stock Performance

Shares of NYSE OVV opened at $52.77 on Wednesday. The business has a fifty day simple moving average of $50.43 and a 200 day simple moving average of $46.53. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $14.19 billion, a price-to-earnings ratio of 6.69 and a beta of 2.65. Ovintiv Inc. has a one year low of $32.07 and a one year high of $55.95.

Ovintiv (NYSE:OVV) last issued its earnings results on Tuesday, February 27th. The company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.41. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $2.75 billion. Ovintiv had a return on equity of 19.50% and a net margin of 19.16%. Sell-side analysts expect that Ovintiv Inc. will post 6.36 EPS for the current year.

Ovintiv Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, March 14th. Ovintiv’s dividend payout ratio (DPR) is 15.21%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Morgan Stanley raised their price objective on Ovintiv from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Barclays began coverage on Ovintiv in a report on Wednesday, April 10th. They set an “overweight” rating and a $69.00 price target for the company. National Bankshares reduced their price target on Ovintiv from $69.00 to $53.00 and set an “outperform” rating for the company in a report on Wednesday, January 10th. Royal Bank of Canada raised their price objective on Ovintiv from $48.00 to $49.00 and gave the company a “sector perform” rating in a research note on Thursday, February 29th. Finally, Jefferies Financial Group raised their price objective on Ovintiv from $59.00 to $69.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.71.

Insider Buying and Selling at Ovintiv

In other Ovintiv news, Director Howard John Mayson sold 6,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $50.56, for a total value of $303,360.00. Following the sale, the director now directly owns 36,840 shares in the company, valued at $1,862,630.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Renee Ellen Zemljak sold 76,264 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $50.96, for a total transaction 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 through the SEC website. Also, Director Howard John Mayson sold 6,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $50.56, for a total value of $303,360.00. Following the sale, the director now owns 36,840 shares in the company, valued at approximately $1,862,630.40. The disclosure for this sale can be found here. Insiders have sold 91,564 shares of company stock worth $4,660,818 over the last three months. Company insiders own 0.97% of the company’s stock.

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.