Ovintiv Inc. (NYSE:OVV) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC decreased its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 20.5% in the 4th quarter, Holdings Channel reports. The firm owned 814,493 shares of the company’s stock after selling 210,340 shares during the quarter. Fisher Asset Management LLC’s holdings in Ovintiv were worth $35,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of OVV. Quent Capital LLC raised its stake 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 stake in Ovintiv by 107.6% in the third quarter. Loomis Sayles & Co. L P now owns 658 shares of the company’s stock valued at $31,000 after acquiring an additional 341 shares during the period. Pacifica Partners Inc. bought a new position in shares of Ovintiv during the fourth quarter valued at approximately $37,000. Quantbot Technologies LP acquired a new stake in shares of Ovintiv during the 3rd quarter worth approximately $38,000. Finally, Fifth Third Bancorp lifted its holdings in shares of Ovintiv by 42.1% in the 3rd quarter. Fifth Third Bancorp now owns 1,617 shares of the company’s stock worth $77,000 after purchasing an additional 479 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Ovintiv Price Performance

NYSE OVV opened at $51.54 on Friday. The stock has a market capitalization of $13.86 billion, a P/E ratio of 6.53 and a beta of 2.65. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.60 and a current ratio of 0.60. The business’s fifty day moving average is $51.59 and its two-hundred day moving average is $46.74. Ovintiv Inc. has a 1 year low of $32.07 and a 1 year high of $55.95.

Ovintiv (NYSE:OVV) last announced its earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.41. Ovintiv had a return on equity of 19.50% and a net margin of 19.16%. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $2.75 billion. On average, research analysts forecast that Ovintiv Inc. will post 6.13 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Thursday, March 14th. Ovintiv’s dividend payout ratio is presently 15.21%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on OVV shares. UBS Group upped their price objective on Ovintiv from $62.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. The Goldman Sachs Group increased their price objective on shares of Ovintiv from $47.00 to $56.00 and gave the stock a “neutral” rating in a report on Tuesday, March 26th. Jefferies Financial Group boosted their target price on shares of Ovintiv from $59.00 to $69.00 and gave the company a “buy” rating in a research note on Friday, April 12th. National Bankshares dropped their price target on shares of Ovintiv from $69.00 to $53.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 10th. Finally, Barclays assumed coverage on Ovintiv in a research report on Wednesday, April 10th. They set an “overweight” rating and a $69.00 price objective for the company. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.71.

Insiders Place Their Bets

In other news, Director Howard John Mayson sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $50.56, for a total transaction of $303,360.00. Following the sale, the director now owns 36,840 shares in the company, valued at $1,862,630.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Rachel Maureen Moore sold 9,300 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.65, for a total value of $471,045.00. Following the completion of the sale, the executive vice president now directly owns 52,557 shares of the company’s stock, valued at approximately $2,662,012.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Howard John Mayson sold 6,000 shares of Ovintiv stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $50.56, for a total value of $303,360.00. Following the transaction, the director now directly owns 36,840 shares in the company, valued at approximately $1,862,630.40. The disclosure for this sale can be found here. Insiders sold a total of 91,564 shares of company stock worth $4,660,818 over the last ninety days. 1.70% of the stock is currently owned by company insiders.

Ovintiv Profile

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.