Swiss National Bank Has $35.60 Million Stock Position in Ovintiv Inc. (NYSE:OVV)

Swiss National Bank lessened its stake in shares of Ovintiv Inc. (NYSE:OVV) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 810,600 shares of the company’s stock after selling 30,700 shares during the quarter. Swiss National Bank owned approximately 0.30% of Ovintiv worth $35,602,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of OVV. Quent Capital LLC increased its holdings in Ovintiv by 151.3% in the 4th quarter. Quent Capital LLC now owns 583 shares of the company’s stock worth $26,000 after purchasing an additional 351 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in shares of 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 buying an additional 341 shares during the period. Pacifica Partners Inc. bought a new position in Ovintiv in the 4th quarter valued at approximately $37,000. Quantbot Technologies LP acquired a new stake in Ovintiv during the 3rd quarter worth approximately $38,000. Finally, Fifth Third Bancorp grew its holdings in Ovintiv by 42.1% during the 3rd quarter. Fifth Third Bancorp now owns 1,617 shares of the company’s stock worth $77,000 after acquiring an additional 479 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Insider Transactions at Ovintiv

In related news, EVP Renee Ellen Zemljak sold 76,264 shares of the firm’s stock in a transaction dated 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 approximately $1,206,325.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Rachel Maureen Moore sold 9,300 shares of the stock in a transaction dated Friday, March 1st. The shares were 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 owns 52,557 shares in the company, valued at $2,662,012.05. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Renee Ellen Zemljak sold 76,264 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $50.96, for a total transaction of $3,886,413.44. Following the transaction, the executive vice president now directly owns 23,672 shares in the company, valued at $1,206,325.12. The disclosure for this sale can be found here. Insiders sold a total of 91,564 shares of company stock valued at $4,660,818 over the last three months. Corporate insiders own 0.97% of the company’s stock.

Ovintiv Stock Up 0.2 %

OVV stock opened at $52.51 on Wednesday. The stock’s 50 day simple moving average is $51.72 and its 200 day simple moving average is $46.69. The company has a market cap of $14.12 billion, a P/E ratio of 6.66 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. Ovintiv Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $55.95.

Ovintiv (NYSE:OVV) last issued 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. The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $2.75 billion. Ovintiv had a return on equity of 19.50% and a net margin of 19.16%. On average, research analysts expect that Ovintiv Inc. will post 6.13 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Thursday, March 14th. Ovintiv’s dividend payout ratio is currently 15.21%.

Analyst Ratings Changes

A number of equities analysts have recently commented on OVV shares. Barclays assumed coverage on shares of Ovintiv in a report on Wednesday, April 10th. They set an “overweight” rating and a $69.00 price target on the stock. UBS Group increased their price target on Ovintiv from $62.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Scotiabank reduced their target price on Ovintiv from $53.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, January 16th. Citigroup increased their target price on shares of Ovintiv from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, Wells Fargo & Company dropped their price target on shares of Ovintiv from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 17th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Ovintiv has an average rating of “Moderate Buy” and an average price target of $56.71.

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.